General business liability insurance protects you and your business from various claims involving bodily injuries and property damage. Here, the Youngs Georgetown team explains what general liability insurance covers, and why you need it.
What is general liability coverage?
General liability insurance helps cover the medical expenses and attorney fees that may result from bodily injuries or property damage for which your business may be legally responsible.
General liability insurance plans typically include:
- Bodily injury liability
- Property damage liability
- Medical payments
- Personal and advertising injury
- Products and completed operations
- Damage to premises rented to you
Oftentimes, general liability insurance is included in the property insurance portion of a Business Owners Policy (BOP). However, it is also available to contractors as a stand-alone coverage option.
Does my business need general liability insurance?
Almost every business should have general liability insurance.
If you are a contractor or a small business owner in particular, general liability insurance can be essential when it comes to safeguarding your livelihood.
Just one accident can result in a lawsuit that a small business owner or independent contractor may not be able to take on uninsured.
The team at Youngs Insurance in Georgetown can help protect you against this eventuality by making sure you have liability coverage that matches your level of exposure.
How much does general liability insurance cost?
The amount you pay for your general liability insurance will depend on a variety of factors. Your level of risk, the size and nature of our business, and whether your general liability is part of a broader package will all play a role in determining price.