What Is General Liability?
General Liability, also known as business liability is a form of insurance that's meant to protect your business from claims such as personal injury or property damage that can come about from your business operations. It is often purchased bundled with other coverages within a business owners policy (BOP), but can be purchased separately as well.
What Does General Liability Cover?
Now, let's talk coverage. General Liability Insurance is like a multi-tool for your business, handling various situations with finesse. It protects you from:
Bodily Injury
Did someone take a tumble in your store or trip over a rogue cable at your office? This insurance has your back, covering medical costs and potential legal headaches.
Property Damage
Oops, a client's laptop went for an unexpected flight? No worries! General Liability Insurance steps in to cover the costs of repairing or replacing damaged property.
Advertising Injury
Ever heard of the phrase "sticks and stones may break my bones, but words can never hurt me"? Well, in the business world, words can hurt. If your advertising accidentally steps on someone's toes, this insurance is there to smooth things over.
Legal Defense
When legal battles loom on the horizon, General Liability Insurance is your legal eagle, covering the costs of attorneys, settlements, and court fees.
Who Needs General Liability?
In short, all kinds of businesses do! Liability claims are more common than you might think, and if the legal system gets involved, the costs can add up pretty quickly. Without general liability protection, you may be stuck paying these costs out of your own pocket! General liability is a must-have for any business owner.
How Much Does A General Liability Policy Cost?
Here's some things to consider when receiving a general liability quote:
1. Business Type: Different industries face different risks. Running a high-energy trampoline park? That might cost a bit more than running a quaint bookstore.
2. Business Size: The bigger the business, the more coverage you might need, affecting the cost. Essentially, more people, more protection, more cost.
3. Location: Location matters when trying to insure your business. A business in a busy, bustling city is typically exposed to more potential risks than one in a small, sleepy town.
4. Coverage Limits: The more coverage you want, the higher the premium. It's like choosing between a basic cell phone plan and one with unlimited data – more perks, more cost.
5. Risk Factors: If your business involves high-risk activities or deals with delicate products, the cost may be adjusted accordingly.
Let The DDA help you insure your business against claims! Call us at 404-947-5010 or start the quoting process yourself by clicking the link below!