General Liability Policies
General commercial liability insurance is there to protect your business from financial loss resulting from someone claiming you or your employees have caused injury or damage. General liability policies typically cover the following types of situations:
Bodily Injury
Physical injury to someone, not an employee that happens at your place of business and injuries that occur at a client’s home or workplace caused by you or your employees.
Personal Injury
Libel, slander, copyright infringement, wrongful eviction, advertising infringement, and more.
Advertising Injury
Losses caused by following in connection with your business and the advertising of your goods or services: libel, slander, invasion of privacy, copyright infringement, and misappropriation of advertising ideas.
Legal Defense and Judgments
Costs associated with defending against real and frivolous lawsuits and judgments. This usually does not include punitive damages for negligence or willful misconduct.
Limit Your Risk And Financial Exposure
General commercial liability insurance is not required for businesses operating in California. However, it is essential to know that California puts no cap on liability lawsuit rewards. The state is known for awarding large liability judgments. As a result, we believe it is essential to have sufficient liability coverage to limit your risk and financial exposure.
Help Protect Your Business From Risks
How much commercial liability insurance should you have depends on your unique situation. In general, the type of business you have will determine the amount of insurance needed for your business. For small businesses, between $500,000 and $1 million is usually acceptable. For higher-risk enterprises or those with significant interaction with the public like a consumer-focused business, you may want to invest in a higher level of coverage. With more and more people working out of their home, it is critical to understand the limitations of your homeowner’s or renter’s insurance when it comes to business liability and loss.
When running your own business, it’s essential to consider the risks your business may face and how to protect your business from unforeseen events. All businesses face some liability; general liability insurance is designed to help protect your business from risks. Working with a professional knowledgeable of general liability insurance’s intricacies and your particular business and financial situation is important when determining what if any coverage you should have.