Best Product Liability Insurance For Small Business - General liability insurance (GLI) is sometimes called business liability insurance or commercial general liability insurance. This type of liability insurance helps protect your business from claims that it caused bodily injury or harm to others. Without general liability coverage, you will have to pay for these claims out of pocket.
It's a question we hear a lot: "Does my small business need general liability insurance?" The answer is probably yes. With general liability insurance, you will be protected against claims:
Best Product Liability Insurance For Small Business
If a customer is injured at your place of business, this policy can help cover their medical bills.
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Employees sometimes damage customer property while providing products or services. Your GL policy can help pay for the damage.
General liability insurance policies can help cover malicious prosecution, libel, slander, wrongful eviction and invasion of a person's privacy.
If your rental property is damaged by fire, lightning or explosion, your general liability policy can help pay for the repairs.
General liability insurance does not help cover all injuries or damages in every situation. For example, this policy does not cover medical expenses for injured workers. General liability insurance also does not cover lost wages for injured workers. Instead, you would need workers' compensation insurance.
Product Liability Insurance: Coverage & Quotes
Did you know that four out of 10 small business owners will likely experience a claim or general liability in the next 10 years? and fall
We strive to provide our customers with the best coverage at the best possible price. We know the needs of our small business owners at The Hartford. General liability quotes vary, but we can give you a quote today so you know how much it will cost you. Just remember that the cost of general liability insurance is different for everyone because every company is unique. Insurance companies use several factors to determine costs.
For example, costs vary by country because one of the factors an insurance company can use is location. Other factors that insurance companies may consider include:
You can save money on the cost of general liability insurance by bundling, such as a Business Owner's Policy (BOP). It combines general liability coverage with business property insurance and business income insurance.
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Liability insurance coverage helps protect you from costly general liability that can occur in normal business situations such as:
You may also need this coverage if your customers require it. Many customers want to confirm that you have general liability coverage before they sign a contract with your company. You can prove your general liability insurance with a liability insurance certificate. Get more protection for your business with commercial auto insurance that covers you, your employees and the vehicles you operate, rent, lease or own.
State laws typically do not require business owners to carry general liability insurance. However, it is still a good idea to have this liability insurance. If a customer sues your business and you don't have coverage, it can put your business finances and your personal assets at risk.
It is important to understand your state's insurance laws. Work with a local insurance agency or our small business insurance team to help you choose the right business liability insurance.
Business Liability Insurance Definition
Forming a limited liability company (LLC) separates your personal assets from your business. However, you are still exposed to claims for damages that could put your business at risk. A limited liability insurance policy can help protect your LLC and cover claims that it caused bodily injury or harm to others.
A professional indemnity insurance policy helps protect your business against claims of error or error in the provision of professional services. This coverage is also known as errors and omissions insurance or E&O insurance.
As a top multinational carrier, we face catastrophic exposures every day. Together with you, we will reduce the impact of general liability on your business.
Our risk engineering team can help protect your employees with one-on-one risk management consultations and security seminars.
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Not all insurance companies are the same. It's important to work with someone you can trust. We have over 200 years of experience helping small business owners protect their businesses with coverage such as general liability insurance.
Whether you're looking for a quote, trying to understand general liability class codes, or help with submitting a claim, we've got your back.
To find out more, start a free quote and take out general liability insurance online. We can also help you obtain other essential business coverages, such as commercial property insurance and commercial auto insurance.
When you're ready to receive a general liability offer, you'll want to have the right information at hand. This includes:
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1 The Hartford, "The Hartford Reports: More than 40 percent of small businesses will experience a claim in the next 10 years"
2 Premium amounts shown are based on monthly premiums paid by The Hartford's Small Business customers between 1/21/2021 and 12/31/2021 for 12-month policies. The premium is derived from a number of factors specific to your business and may vary.
The Hartford is not responsible for any damages related to the use of information on this site. Please contact your insurance agent/broker or insurance company to determine specific coverage needs as this information is educational in nature.
The information on this site should not be construed as specific legal, personnel, financial or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, the determination of coverage will depend on the policy language, and any claim payment will be determined after the claim is investigated.
Small Business Insurance
Certain coverages vary by country and may not be available to all companies. All Hartford coverages and services described on this page may be offered by one or more affiliates of The Hartford Financial Services Group, Inc.
Hartford Financial Services Group, Inc. (NYSE: HIG) operates through its affiliates under The Hartford brand and is headquartered in Hartford, CT. Please read The Hartford's legal notice for additional details. Whether you're in retail, construction, or financial services, most small business owners need small business insurance. Having one can help protect the existence you've worked so hard for. The right small business coverage can help cover costly damages and lawsuits from:
Small business insurance helps protect your personal property and business income. It also helps protect you from liability claims.
If you want to get the best business insurance for your small business, you will likely need a variety of insurance products and coverages. With our Business Owner Policy (BOP), you get three essential types of coverage rolled into one:
Guide To Product Liability Insurance For Small Business Owners — Backoffice (2022)
General liability insurance helps protect businesses from claims that they caused bodily injury or property damage to someone else. It can also help protect your business from personal injury claims such as libel or slander.
Commercial property insurance, also known as business property insurance, helps protect your own or leased physical building and the tools and equipment used to run your business.
Business income insurance, also known as business interruption coverage, helps replace your lost income if you are unable to operate due to covered property damage. This includes damage from fire, wind or theft.
Over time, you may need more coverage to protect your small business. We are here to help and can provide you with small business insurance quotes based on the risks you face. Here are some of the different types of coverage we offer:
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Workers' compensation insurance provides benefits to your employees if they suffer an injury or illness on the job. Also known as workers' compensation insurance, it can help pay for an injured worker's medical expenses, treatment and lost wages. Most states require employers to carry employee computers.
Commercial auto insurance helps keep you and your employees safe on the road while driving a company vehicle for business.
Professional liability insurance, also known as errors and omissions insurance, helps protect your business against claims that an error occurred in professional services provided to a client.
Data breach insurance, which some insurers call cyber liability insurance, helps you pay to respond to a breach if personally identifiable information is lost or stolen.
Small Business Insurance Quotes Online In Australia
Small business insurance costs vary. This is because every small business is different and has unique risks. How much does small business insurance cost? It depends on what you need. However, you can use the chart below to see the average cost business owners have paid for coverage at The Hartford:
Most states require some form of insurance for small business owners. No matter how careful you are, an accident can happen. If they do, the right types of coverage can make a big difference. Learn more about small business insurance needs.
There is no single small business insurance policy that will cover every claim. Many small business owners start with a BOP because it includes both liability and property coverage. A BOP can help protect your business from:
We proudly work with thousands of small business owners across the country. If you're looking for more information on how to get small business insurance where you live, check out our state business insurance page.
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