What is General Liability Insurance and How Does it Protect My Business
Inside General Liability
Just about every business owner should have general liability insurance coverage to protect the business in the event of an action brought against them, even false claims because even if your business hasn't done anything wrong, legal and attorney bills are expensive. This valuable coverage can be purchased as a stand-alone policy (called "monoline insurance") or part of a package in a BOP (business owner’s policy) or "Commercial Package Policy". Typically referred to as “slip and fall” insurance, General Liability policies offer much more protection to the business owner.
Almost all general liability insurance polices are made up of various forms and endorsements and/or exclusions. So in that sense, general liability policies are like books, with each chapter providing or limiting coverage. Sometimes, even within a "chapter", a form will do both. For example, a form may provide coverage if a ladder falls for a contractor, albeit later limit the coverage to only yourself, or maybe employees, and exclude sub-contractors.
Bodily Injury & Property Damage Liability
This provides coverage in the event that an injury is caused or property damage happens in the course of your ongoing operations and work. For example, a lawn service is sued because while cutting grass the mower operator hit a rock that was sent as a missile into the head of a child causing injury. Or, that rock went through a window and broke an expensive ceramic figurine. The number of possible bodily injury and property damage potentially caused by your service is probably endless. You can certenly count on civil litigation lawyers going to sleep every night trying to dream up new and inovative ways to find something you're doing as causing harm to another.
Personal Injury Liability
Although these sounds like it would cover for physical personal injuries that an insured might inflict on another, the coverage is for many different things. Primarily this coverage is provided to pay for lawsuits arising out of alleged offenses such as libel, slander and false arrest.
Advertising Injury Liability
This part of the policy is triggered if an action is brought by a third party for alleged loss or suffering resulting from an organization’s advertising. This coverage has become more popular resulting from the social network advertising in a very litigious environment.
This is a great little coverage that is almost a gift from the insurance company. The Medical Payments coverage can be accessed with proving fault and can settle many injury situations. Usually purchased with limits such as $5,000 or $10,000, this coverage can be very valuable to the insured. For example, that same lawn mower operator accidently rolls over some rocks and one of them hits a child playing in the yard. If the injury is not severe and only requires a quick trip to the ER, the insurance company will pay the costs up to the limits selected, without out the need for legal action.
Premises Liability provides coverage for damage caused to property you rent such as warehouse, office or retail space.
We offer general liability policies in a wide variety of places including Michigan cities of Ann Arbor, Dearborn, Detroit, Flint, Grand Rapids, Kalamazoo, Saginaw, Traverse City and many others. In Minnesota, North Carolina, Oregon, Texas, and Wisconsin Also.