General Liability Business Insurance Guide: What is covered by GL Insurance Policies?

Almost every type of business requires some form of insurance to protect them from lawsuits, customer property damage, customer injury, and so on. You can shop around for general liability (GL) insurance online. Don’t pick the first quote you come across. It is important to learn the terms and conduct research, just as you would with any other type of insurance.

The industry you are involved in plays a big part in the policy and coverage you should look for. If you are new to the business and don’t have much experience, or have had problems with claims in the past, you need to prove to the insurance companies that you will not be a risky investment and that you deserve a chance to prove yourself. If there are any red flags you give off, insurance companies may not cover you.

If you are not involved in any high-risk industries, you should have a better chance of being approved by a good insurance provider. Even if your industry is considered high risk, there may still be opportunities for you.

Keep in mind that commercial general liability insurance policies are not the same. A GL policy is not a “one size fits all” type of agreement. A good insurance company will write a policy that matches your business needs as specifically as possible. There are even insurance options for those who work from home. For example, if you run a website building business, you might want a policy that protects you against libel, slander, accidental copyright infringement, etc. Note: If you really have a history of litigation, it may be difficult for you to get a good politics.

What is not covered by professional liability insurance?

What does GL business insurance typically NOT cover?

• Professional errors

• Damage to your own business property

• Employee injuries

• Employee discrimination suits

If you want protection for your own physical commercial property, look for commercial property insurance. This will help pay for repair/replacement costs of your business-related property when it is damaged by theft, fire and other types of weather-related events.

Workers’ compensation insurance is something you should consider if you are concerned about employee injuries.

Where should you begin your search for professional general liability insurance as well as other business-related coverage? There are many affordable, customized solutions at Hiscox Business Insurance. You should be able to find all the coverage you need. It’s easy to compare policies to decide which will be best for you.

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