What Coverage Does General Liability Insurance Provide?
General liability insurance provides essential coverage for businesses, protecting them from a variety of potential liabilities and risks.
Follmer Insurance Services is offering general liability insurance in Brighton, South Lyon, Howell, Pinckney, Ann Arbor and surrounding areas.
These are some crucial things regarding the coverage it provides:
- Bodily Injury Coverage: General liability insurance typically covers bodily injuries that occur on your business premises or as a result of your business operations. This includes medical expenses, legal fees, and compensation for injuries sustained by third parties such as customers, visitors, or vendors. For example, if a customer slips and falls in your store, general liability insurance can help cover their medical bills and any resulting legal expenses.
- Property Damage Coverage: This insurance also covers property damage caused by your business operations. Whether it’s damage to someone else’s property or rented premises, general liability insurance can help pay for repairs or replacements. For instance, if your employee accidentally damages a client’s expensive equipment during a service call, your policy can cover the costs of repair or replacement.
- Personal and Advertising Injury: General liability insurance often includes coverage for personal and advertising injury claims. This protects your business against claims of slander, libel, copyright infringement, or false advertising. If your advertising inadvertently causes financial or reputational harm to another person or business, this coverage can help cover legal costs and damages awarded in a lawsuit.
- Legal Defense Costs: In addition to covering damages and settlements, general liability insurance typically includes coverage for legal defense costs. This can be crucial for small businesses facing lawsuits, as legal expenses can quickly escalate even if the claims are ultimately found to be groundless.
- Products Liability Coverage: If your business manufactures, distributes, or sells products, general liability insurance can provide protection against claims of bodily injury or property damage caused by defects in your products. This coverage extends to legal defense costs, settlements, and judgments arising from such claims.
- Completed Operations Coverage: This aspect of general liability insurance covers claims related to work completed by your business. If a product you’ve sold or a service you’ve provided leads to injury or damage after the fact, completed operations coverage can help cover associated costs. For example, if a contractor’s work on a building later results in structural damage, completed operations coverage can help mitigate the financial impact.
Overall, general liability insurance is a crucial safeguard for businesses, providing comprehensive coverage against a range of potential liabilities and risks.
