General Liability Insurance
General Liability Insurance protects your California business from liability claims regarding bodily injury. And other types of physical injuries or property damage that occur at your place of business. This type of insurance often referred to as “Business Liability Insurance” or “Commercial Liability Insurance. Basically, it provides coverage for your business against customer injuries and property damage, and lawsuits related to both. It’s often the first policy new business owners purchase and arguably the most important.
Why does your business need general liability insurance?
Are you an entrepreneur with your own business? If so, you know that every day, your company is at risk for potential lawsuits. That’s why it is so critical that you have a general liability insurance policy. While having this insurance is not a legal requirement in California, it is still a good idea to have. Failing to carry general liability could result in paying for all the expenses related to a claim against your business. Third-party claims or client-related lawsuits could pierce a deep hole in your pocket that could damage your business operation. Without this insurance, 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.
Commercial Liability Insurance
Unexpected accidents can happen in a matter of seconds. But damages can cost you the business that you have taken years to build up. When it comes to business insurance, this insurance is the baseline and first type of policy you should purchase. You can purchase general liability coverage on its own. But it’s often packaged with property insurance as part of a business owner’s policy(BOP). A bundled insurance package is made for small businesses can be a cost-effective solution. Hence, General liability insurance typically covers you and your company for claims involving
- Bodily Injury Liability
- Property damage liability
- Libel, slander, and copyright.
- Medical payments
- Products completed operations
- Damage to premises rented to you
- Settlements and judgments for covered claims