General Liability insurance is the most common type of commercial insurance purchased. It is a true third party type of coverage where it is designed to protect others from the actions of the business. Even though it is the most commonly purchased business policy, it is also a very complicated coverage that needs special attention to when buying it. Before actual signing the applications to a General Liability policy, make sure you know the intent of the policy you are purchasing and also what it doesn’t cover. The insurance industry is reactive to the legal system and makes changes and adjustments to the policy language when court cases are published. Therefore it is critical that you, as the business owner, understand your current liability coverage as the language may have changed since you first took out the policy.
What is General Liability Coverage?
General liability is all about legal liability insurance for your business. It can cover many types of legal issues you may be responsible for. However, this insurance does not cover everything.
Who Needs General Liability Coverage?
If you own a business, you need to protect your legal interests. In fact, any business that is open to the public is vulnerable and needs protection.
What is a Standard Business Liability Insurance Policy?
Your business needs could be much different than the shop next door or even your competitor. However, these options are considered essential:
Bodily Injury – can include medical payments, income loss, disability, and death benefits.
Property Damage – damaging other people’s property.
Libel and slander – from you or your employees.
Options for General Liability Insurance
General liability coverage should only be part of your total liability insurance package. Here are some options you may wish to include:
Product liability – important for manufacturing or food serving businesses
Professional liability – covers damages caused by your employees, such as improper advice.
Broad form property damage – covers customer’s property while in your care.
Environmental protection liability – protects your business if your work causes hazards to the ecosystem.
Infringement of patents or copyrights
Subcontractor liability – protects against damages caused by companies you subcontract.
Towing liability – also called on hook insurance. Covers vehicles you tow, and is essential for automotive services.
Why Use an Insurance Expert in New Berlin?
If you want to get the best coverage with the least amount of effort, consider the many benefits of an independent insurance agent from American Advantage – Petersen Group in New Berlin, Wisconsin. We are there to make it as easy on you as possible. Our insurance experts routinely do business with many of the best insurance companies in the industry, and we find you the best deals possible. This gives you maximum coverage with minimal premiums.
Why spend all your time insurance shopping when you don’t have to? Your independent agent is there to give you coverage customized for your business and business property. We will find you the right property insurance, commercial auto insurance, and business insurance. There’s no need to check out all of these coverage options separately, when your agent can take care of everything for you.
Don’t take unnecessary chances with your business, contact an insurance professional at American Advantage – Petersen Group in New Berlin, Wisconsin today. Call us at 262-432-0789 for more information or fill out the free insurance quote form and we’ll get back to you.