What is General Liability Insurance?

https://robfreeman.com/ - General liability insurance, also known as commercial general liability insurance, or business liability insurance, protects your business from claims of bodily injury and property damage caused by your business’s operations or from products you’ve sold or work you’ve performed, or from personal advertising injury arising out of the advertising of your products or services.

General liability may be purchased separately as a standalone policy, or packaged together with property insurance, and maybe umbrella coverage, in a package policy or business owner’s policy, also known as a BOP.

General liability is considered to be “table stakes” for entrepreneurs starting their own business. One of the reasons why general liability is so useful for entrepreneurs, especially contractors of any type, is that it includes coverage for contractual liability, or liability assumed in a contract.

It’s important to note that not all general liability policies are the same. General liability policies may exclude certain exposures, or even many exposures, that your business has. I encounter this on a regular basis and people are shocked to discover that the insurance policy they have doesn’t cover them for the work that they do.

This is why it’s important to work with an insurance broker who specializes in your industry. If you have questions about your general liability policy, please schedule an appointment with me today.