As a small business owner, you have a lot on your plate. From accounting, to marketing and sales, to product development and inventory — the to-do list can seem never ending. That’s why it’s no surprise that details like liability insurance can so easily slip through the cracks, leaving your business financially vulnerable.
Unfortunately, nearly anyone your business interacts with can make claims against you. And without the right insurance protection, these claims could cripple your operation.
What General Liability Insurance Covers
General liability (GL) coverage can be part of a standalone policy or can be part of a business owner’s policy (BOP). This coverage safeguards your business’ finances and reputation in the event a customer or third party takes legal action against you or your employees.
The following are types of claims covered by a GL policy:
What General Liability Insurance Doesn’t Cover
GL coverage does have limits — both in dollar amounts and types of situations covered. This depends on a number of factors, including your specific industry and your business’s exposure to visitors and clients.
However, there are a few limits that apply to businesses across the board. GL does not cover the following types of damages:
To learn more about how Liberty Mutual can protect the investment you’ve made in your business, visit our general liability page or connect with an independent insurance agent today.