PLEASE UPDATE YOUR BROWSER

1 Reason Insurance (715)598-9924

Leadership Through Service

  • About
    • Meet the Insurance Agents of 1 Reason Insurance
    • Partner Insurance Companies
  • Personal Insurance
    • Car Insurance Quote for Personal Auto
    • Boat Insurance
    • Home Owners Insurance Application
    • Life Insurance Quotes
    • Motorcycle Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • RV Camper Insurance
    • Snowmobile Insurance
  • Business Insurance
    • Commercial Auto Insurance
    • What is General Liability Insurance
    • Rental or Vacant Properties
    • Workers Compensation in Wisconsin
  • Blog
  • Contact 1 Reason Insurance
    • Contribute As Guest Author
Home > Commercial Auto > General Liability Insurance, What Type of Coverage Offered

General Liability Insurance, What Type of Coverage Offered

Posted on: January 20, 2016 By: robert

In today's business environment, the fear of a lawsuit is not a matter of if, but when for most business owners. Business liability insurance coverage is no longer a discretionary expense, and operating a company without general liability insurance literally places the entire business at risk every day.

Since no one wants to see their hard work vaporize overnight, almost all businesses that are profitable or have assets will want to protect future earnings with various insurance policies including general liability. Unless you work in the insurance industry or have prior experience buying liability insurance, you may not know what's included. Unlike property insurance that protects your businesses assets in case of a loss, liability insurance protects you from losses as a result of a court case. Let's take a look what is and what is not covered with general liability, subject of course to policy limits and language. 

What can be included in a general liability insurance policy:

Bodily injury damages – For example, someone slips and falls inside your store because a bag of marbles broke open and dumped on the floor. Another example may be someone gets hurt from the use of your product, or even as a result of advertising.

Expenses related to defending a lawsuit including attorney fees, investigation costs, bond postings, medical expenses, expert testimony costs, and other litigation expenses. In my opinion, this is the most significant one because the costs of litigation alone can break many small businesses. Predatory lawsuits happen everyday and can force a business that is in the right to still have to cut a check because it's often cheaper than defending a frivolous case.

Actions of your full-time employees and temporary staff.

Damage to third party property.

Electronic data liability.

Other liability protections that you will want to talk to your agent about to gain a clear understanding of the overages available. 

What is usually NOT covered in a typical general liability insurance policy:

Your company's property.

Vehicles, boats, ATVs, snowmobiles

Personal identifiable information

Employee injuries – You're required in most cases to have worker's compensation insurance in place if you have employees.

Professional mistakes – Errors and omissions insurance is used by insurance agents, real estate professionals, attorneys and others.

Auto-related coverage – Similar to homeowner's insurance limitations, commercial liability insurance doesn't cover against claims made as a result of vehicle use. You will want to have commercial auto insurance to protect your vehicle when used for business purposes, and for company owned vehicles.

Comments

comments

Comments

comments

Categories: Commercial Auto, Commercial Insurance, Tips & Advice

Leave a Comment

You must be logged in to post a comment.

1Reason Agencies

What clients have to say:

Mike T. "I started a business last year and Robert responded to my inquiries immediately, and was extremely helpful and knowledgeable as to the type of insurance coverages I would need to get started. Now its been a year and he now carries All of my coverages! Absolutely the most hands on agent I've ever worked with but hands down the friendliest! I can call him anytime and never feel rushed and not only that but he responded while on a family vacation. I believe in relationships in business and so does Robert by the way he treats his customers. I have a true friend in the business, thank you Robert!"


Lynn R. "Bob is very knowledgeable and has always done a great job explaining different aspects of coverage. He is very accessible and looks out for what is best for the consumer. We highly recommend him!


Justin T. "Excellent agent, always available for answers to insurance related questions. Bob, is the person most people strive to become. Without a doubt, a great person!"


Sebastian T. "I can not begin to tell you how pleased I am with 1 Reason Insurance ! Their responding services is friendly and complete. For the services my company offers to the public it is sure nice to know that we are covered for a reasonable fee. Just having (1 R I ) 1 Reason Insurance there is such piece of mind ! Their insurance plans are strait to the point and easy to understand.
Thanks for the great service 1 Reason Insurance !"


Jeff H. "Very nice and cares about the customer! He was literally the reason why i chose him over other companies for my insurance"

Categories

  • Bonds
    • Performance Bond
  • Bookkeeping
    • Business Taxes
  • Business Marketing
    • Webhosting
  • Car Insurance
  • Commercial Auto
  • Commercial Insurance
  • Court Cases
  • Cyber Liability Insurance
  • Employment Opportunities
  • Employment Practices
  • Flood Insurance
  • Home Ownership
  • Homeowner's Insurance
  • Insurance Companies
    • Insurance News
  • Insurance Terms
  • Investing
    • Finance & Insurance News
  • Life Insurance
  • Non Emergency Medical Transportation
  • Payroll
  • Pinewood Derby
  • Professional Liability / E&O
  • Real Estate News
  • Rental Property Insurance
  • Retirement & Estate Planning
  • RV Insurance
  • Starting A Business
  • Stock Dividends
  • SuiteCRM Insurance CRM
  • Taxes
  • Tips & Advice
  • Travel
  • Uncategorized
  • Worker's Compensation

Recent Posts

  • LGI Homes Expands Presence Near Buffalo with New Minneapolis-Area Community
  • Flagship Communities Real Estate Investment Trust Releases 2024 ESG Report
  • NI Holdings, Inc. Reports Results for First Quarter Ended March 31, 2025
  • LGI Homes Continues Growth in Tampa, Florida with Expansion in Spring Hill
  • FG Communities Completes Manufactured Housing Acquisition in Morganton, North Carolina
  • Michael Keeney Joins Greystone as Chief Underwriter for Agency Lending
  • DeFi Development Corp. Purchases 20,473 Solana (SOL), Bringing Treasury Holdings to 420,690 SOL
  • DeFi Development Corp. Announces Closing of $24 Million Private Placement