General Liability Insurance

​General liability insurance (GLI) is also known as commercial general liability insurance or business liability insurance. This kind of liability insurance protects your company from bodily harm or property damage claims. Such claims can arise in the course of normal business operations. However, you'd have to pay for the damages out of pocket if you didn't have general liability insurance.

What is covered by General Liability Insurance?
General liability insurance helps to cover and protect yourself against claims of: 

• Physical injury or property damage caused by your business
• Reputational harm caused by malicious prosecution, slander, libel, wrongful eviction, invasion of privacy, and other offenses
• Medical expenses if a customer or client is injured while visiting your establishment
• Renter's property damage caused by a covered loss such as fire, lightning, or explosion

General liability insurance can also assist in the payment of:

• Medical expenses incurred by a customer or client as a result of a slip and fall in your establishment
• Repair costs for repairing a wall that your employee inadvertently damaged while working at a customer's premises
• Legal fees incurred as a result of lawsuits filed against your company
• Settlements and judgments obtained as a result of a lawsuit filed by a customer or client

Who is covered by General Liability Insurance?
Four out of every ten small business owners are likely to face a property or general liability claim within a few years. Thus, claims can range from unexpected incidents, such as a burglary, to unforeseen accidents, such as a customer being injured after accidentally falling.

What is the purpose of General Liability Insurance?
Many business owners are perplexed as to why they require general liability insurance when they already have commercial auto insurance and workers' compensation insurance. The solution is straightforward. As a business owner, liability insurance protects you from costly overall liability claims that may arise in everyday business contexts, like:

• You or one of your employees are representing a client
• Face-to-face meetings with clients
• Working on or with someone else's property
• Using third-party facilities for business purposes
• Promoting your company

In addition, if your clients request it, you may also be required to provide this coverage. Before signing a contract with your company, many clients want to make sure you have general liability insurance; thus, you may use a certificate of insurance to demonstrate that you have general liability insurance.  

Final Words
Increase your business's protection by purchasing commercial insurance to cover you, your employees, and the vehicles you operate, rent, lease, or even own.

At UG Insurance Brokerage Inc, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, don't hesitate to contact our agency at (718) 848-7777 or Click Here to request a free quote.  Coverage discussed in this article is not guaranteed. Please contact our agents today to ensure that your needs are being met and learn more about your policy. We are happy to help!