General liability insurance is an important business insurance a business owner should have. Of course, you have to get quotes in the process of getting an affordable general liability insurance for your specific business. Let us see how to get the quotes for fulfilling your purpose.
General Liability Insurance:
General liability insurance is an essential part of your business portfolio irrespective of the fact whether you work from your office or from your home or off the field. If you start a new business, then it is good to buy a general liability insurance before you open your business. Even if you have this insurance coverage already, you have to review the policy as and when your business expands.
If you visit the website of an insurance company you will find certain columns and if you enter your zip code and the insurance coverage, your business type needs, you will get general liability business insurance quotes in a very quicktime. As such you can get such quotes in respect of many insurance providers and many insurance agencies are there to provide you general liability business insurance quotes in respect of prominent insurance carriers, they represent.
A general liability business insurance is a perfect choice for any business as it protects your business from a person or business’ claims of bodily injury and related medical costs, property damage, data loss and personal injury.
What is Covered?
The general liability insurance provides cover to the following.
- Bodily injury
- Third party property damage
- Personal injury
- Advertising injury (libel and slander)
- Third party medical expenses
- Related defence costs
What is not Covered?
- Damages done to business equipment and rented property
- Workers compensation insurance
- Employee dishonesty
- Professional liability
- Fraud or intentional damages and injuries
- Leak of sensitive information
In a business operation you may think that you will not at all be sued, but lawsuits are a part of business landscape. When a small business is sued, the cost will be much higher that cannot be tolerated or borne by them. Instead if you have a general liability insurance on hand, you can face any type of lawsuits to be filed by third parties. Lawsuits for small business may cost between $4000 and $190,000 and how do you expect a small business to meet this huge expense without the help of a general liability insurance?
But, you must get an affordable general liability insurance which provides all types of coverages under its purview. For this purpose, you have to get quotes for general liability business insurance from a minimum number of five insurance providers. You can compare these quotes along with the coverages offered for a better choice. General liability business insurance is a safety net in protecting any type of business as it funds the businesses when something goes wrong.
If a person is injured in your business premises, general liability insurance will take care of the medical expenses of the injured as well as ambulance ride and emergency room visit. If the injured person refuses your help in this regard and choose to go for legal remedy, then you have an option to engage a lawyer to defend your case. Your lawyer can negotiate with the injured for an out of court settlement or take it to a trial.
In general, liability insurance for small businesses is very much affordable and general liability insurance is no exception. If you run a low-risk business you may have to spend around $450 per year towards general liability insurance. On an average these policies cost about $741 per year while a median business may cost $428. However, getting general liability business insurance quotes is an important process in buying it.
Conclusion: General liability insurance is a common type of business insurance needed by every business and do not fail to get one for your business safety.