General Liabilities
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Keep Your Business Secured from Liability Claims
The term GL (General Liability Insurance) is known as business liability insurance, which is defined as a shield that helps you keep secured from various types of claims, including bodily injury, property damage, personal injury and many others which could come from the operations of your business. The quotes for general liability mainly cover:
- Bodily injury and property damage liability
- Personal and advertising injury
- Medical payments
- Products-completed operations
- Damage to premises rented to you
What does General Liability Insurance Cover?
This insurance safeguards your small-scale business from the claims that might happen during the operations of your normal business, including:
- Property damage
- Physical injury
- Defense costs
- Personal and advertising injury
Read how it keeps your startup business secure and how much you will have to think of for your particular risk.
Who needs general liability insurance?
General liability insurance is interconnected with property insurance in BOP (Business Owners Policy). However, it can be accessible by several contractors as a separate protection shield with the help of the Progressive Advantage Business Program.
As the owner of a startup business or a contractor, you require some type of business liability insurance in order to protect your living.
A single incident might lead to the circumstances of a lawsuit which could be handled by you. A good way to secure against this is to ensure the availability of liability coverage that meets your exposure level.
Few clients or employers may also want you to carry a particular amount of general liability before you start working for them.
Common questions about general liability insurance
No, but failing to carry general liability insurance could result in you having to pay for all the expenses related to a claim against your business. For example, while visiting your office a client slips on a rug and breaks their hip. Without general liability 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.
Yes. You choose the amount of your general liability deductible when you get a quote. A deductible is a fixed out-of-pocket expense you agree to pay before your coverage starts to pay.
General liability insurance only pays for third-party damages, not yours. You’re considered the “first party.” The “third party” is the one that has a claim against you. This means general liability won’t cover your property or equipment against theft or damage.
Yes. Since general liability premiums are considered “a cost of doing business,” they usually can be written-off at tax time. That said, it’s a good idea to consult a tax professional to make sure.
No. General liability only provides coverage for claims against you by others for their bodily injuries or damage to their property. To protect from claims against you for professional neglect or mistakes, you need to have professional liability insurance.
A certificate of insurance (COI) is an official document that lists all coverages and limits on an insurance policy. Essentially, it proves that you have insurance and details your policy coverages and limits.
Yes. Progressive can help you get business insurance, including general liability, in all states except Hawaii. Browse by state.
Yes. High-risk businesses can get general liability insurance in a specialty market called excess and surplus lines (E&S). E&S insurance provides coverage for businesses the standard market doesn’t protect.
General liability insurance for contractors
If you’re a contractor, you might only need general liability instead of a business owners policy (BOP). For example, you might not own any commercial buildings that require property insurance or have to cover payroll or other operating expenses. However, you’re still exposed to liability risks from your job.
You might be eligible to get general liability insurance, without the extra coverages in a BOP, through the Progressive Advantage Business Program. We offer general liability, as well as Blanket Additional Insured Coverage to contractors who qualify.
Blanket Additional Insured Coverage extends your existing liability insurance to other entities as required by some contracts with employers.
General liability insurance cost
In the year 2022, general liability insurance’s national median cost was $53 through progressive, and $72 was the average cost.
Most customers find their monthly premium to be closer to the median price because expensive outliers often drive up the average cost. Your rate will depend on specific features of your business.
Discover more about general liability insurance cost, policy rating factors and money-saving tips to help you find the best combination between price and protection for your business. Call us or start a quote online.
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