General liability insurance is a type of insurance coverage designed to protect businesses from a variety of liabilities that may arise during their operations. It provides financial protection against claims of bodily injury, property damage, and personal injury that may occur on your business premises or as a result of your business operations. Whether a large corporation or a small start up, the team at Elliott, Powell, Baden, and Baker has access to an array of General Liability insurance options and can help tailor a plan to fit your needs.
Here are some key features of general liability insurance:
- Bodily Injury Coverage: If a third party (such as a customer, vendor, or visitor) suffers bodily injury on your business premises or as a result of your business activities, general liability insurance can cover medical expenses, legal fees, and any settlements or judgments resulting from a lawsuit.
- Property Damage Coverage: If your business activities cause damage to someone else’s property (e.g., a client’s home or office), general liability insurance can cover the cost of repairs or replacement, as well as any legal expenses if you are sued.
- Personal and Advertising Injury Coverage: This aspect of general liability insurance protects your business against claims of libel, slander, defamation, copyright infringement, and other forms of personal or advertising injury.
- Legal Defense Costs: General liability insurance typically covers the costs of defending your business in lawsuits, including attorney fees, court costs, and settlements or judgments, up to the policy limits.
- Products and Completed Operations Coverage: Some general liability policies include coverage for damages caused by your products or completed work. This can be important for businesses involved in manufacturing, distributing, or selling products, as well as those providing services.
General liability insurance is essential for most businesses, as it provides an important layer of protection against common risks and liabilities. The specific coverage and limits offered by a policy may vary depending on factors such as the type of business, its size, and, type of industry. At EPB&B our team will do a complimentary policy review to find you comprehensive protection for your business needs.