When does a small busiess need
general liability insurance?
Almost every business needs some form of general liability insurance to protect company assets and sign important contracts. Commercial general liability protection can help small businesses pay for unexpected lawsuits, sign deals with new clients, rent commercial space, and avoid bankruptcy.
A policy reassures clients that you'll be able to compensate them if you damage their property or injure someone with your work. Most small business owners purchase a policy shortly after starting a business. Read more about general liability coverage.
What is the cost of general liability protection?
In 2017, the national average monthly cost for general liability coverage through our various commercial insurance carriers was $70 per month. Remember, this is only an average and isn’t necessarily what you’ll pay. Your rate depends on the specific features of your business.
Discover more about general liability insurance cost, policy rating factors and money-saving tips to help you find the best combination between price and protection for your business. Call us today at 1-877-334-7646, or request a quote online.
Get is all in a Business Owner's Policy (BOP)
General liability, along with other coverages, is available in a BOP written through commercial insurance carrier partners.
If you need to protect things like personal property used for your business, or commercial buildings such as garages or storage facilities, you might require the additional protections provided in a BOP.
We make general liability quotes
better when we compare
Got questions about general liability coverage?
We've got answers.
No, but failing to carry general liability coverage could result in you having to pay for all the expenses related to a claim against your business. For example, while visiting your office a client slips on a rug and breaks their hip. Without general liability protection, you could be solely responsible for all the medical bills and legal fees. So, even though it’s not required by law, it should be a priority for your business.
Sometimes. If you elect a policy with a deducible, you choose the amount of your general liability deductible when you get an insurance quote. A deductible is a fixed out-of-pocket expense you agree to pay before your coverage starts to pay.
General liability insurance only pays for third-party damages, not yours. You’re considered the “first-party”. The “third-party” is the one that has a claim against you. This means general liability won’t cover your property or equipment against theft or damage.
To protect your property, we offer mono-line commercial property coverage or you can add this coverage as a part of a Business Owners Policy.
Yes. Since general liability premiums are considered “a cost of doing business”, they usually can be written-off at tax time. That said, it’s a good idea to consult a tax professional to make sure.
No. General liability only provides coverage for claims against you by others for their bodily injuries or damage to their property. To protect from claims against you for professional neglect or mistakes, you need to have professional liability insurance.
A certificate of insurance (COI) is an official document that lists all coverages and limits on an insurance policy. Essentially, it proves that you have insurance and details your policy coverages and limits.