General Liability Business Insurance Guide: What Is Covered in GL Insurance Policies?

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

The industry you’re involved in plays a huge role in the policy and coverage you should look for. If you’re new to the business world 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 are not going to be a risky investment and that you deserve a chance to prove yourself. If there are any red flags you are giving off, insurers might not want to cover you.

If you’re not involved in any high-risk industries, you should have a better chance of getting approved by a good insurance provider. Even if your industry is considered to be high-risk, there still might be options for you.

Keep in mind that general liability business insurance policies aren’t all the same. A GL policy isn’t a “one size fits all” type of deal. A good insurance company will write a policy that appropriately matches your company’s needs as specifically as possible. There are even insurance options for those who work from home. If you run a website building company, for instance, you might want a policy that protects you from libel, slander, accidental copyright infringement, etc. Note: if you really do have a history of lawsuits, it might be difficult for you to get a good policy.

What is Not Covered By a General Liability Business 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 business property, look for commercial property insurance. This will help pay for expenses to repair / replace your business-related property when it is damaged by theft, fire, and other types of weather-related events.

A workers’ compensation insurance policy is something to consider if you are concerned about employee injuries.

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