General Liability Insurance (Quotes, Cost & Coverage)
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Frequently Asked Questions About General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
General Liability Insurance Quotes
General Liability Insurance.
At GeneralLiabilityInsure.com our goal is to get you the California, Delaware, Kentucky, New Jersey, New York, Pennsylvania or Texas business insurance you need as fast and easy as possible. We specialize in quick general liability insurance quotes, and have many options placing your small business insurance coverage. We have a fast commercial general liability insurance quote process, making binding coverage simple.
Fast and affordable small business general liability insurance quotes in CA, DE, IL, KY, NJ, NY PA & TX. Get your Certificate of Insurance (COI) today.
General Liability Insurance. The cost of annual premiums are nominal, generally ranging from a few hundred dollars a year to a couple of thousand, depending on the coverage needs of the particular business. In return, your business gets the peace of mind that you're covered for the unexpected, should it ever happen, and you could end up saving your business and your assets if the unthinkable occurs.
Your business can opt to purchase a general liability insurance policy on its own or as part of a business owner's policy, which is an insurance policy that bundles both property and liability under a single umbrella. However, if your business has a business owner's policy, it's still a good idea to review the coverage for liability that your policy affords, and if necessary, add an excess liability policy as a separate insurance product to make sure protection is in place.
See the benefits you can get by working with our business insurance experts:
- Real Insurance Agents: We're not an online lead generation website trying to sell commercial insurance leads to other agents. We're a commercial insurance agency with real, licensed professional insurance brokers ready to help.
- Commercial Experts: You get the benefit benefit of our specialized small business insurance experts that work very hard to find you the best coverage options and the lowest cost. Business insurance can be complex.
- Fast Insurance Quotes: We know you want to get the coverage you need quickly to you can get the certificate of insurance (COI). We can help you compare rates and coverages then get you the lowest priced offer.
How Does Business Liability Insurance Work?
If you're a business owner in or thinking of starting a small business, you're probably aware that you need small business general liability insurance, but maybe you're somewhat confused about what it is, what it covers, and how much you need to fully protect yourself and your business from potential liabilities. What is general business liability insurance? What does it do? Why do you need it? How much should you buy? Read on to discover more about this essential insurance for your business and find out how to get the right level of coverage for your particular needs.
How Much Liability Insurance Do You Need?
The amount of coverage that your PA business needs depends on your individual business model and the amount of risk associated with your business. For instance, a consultant or a web designer may need less coverage than a roofer or a contractor. The location of your business also plays a key role in determining your coverage needs. For instance, if you live in a state that has a tendency to award large amounts of damages to personal injury claimants, then you may want to beef up your liability policy.
Our general liability insurance policy experts can help you select the coverage levels you need to protect you and your business from the liabilities you face on a daily basis.
How Does Liability Insurance Cover You?
Like a traditional insurance plan, a general liability policy pays for covered claims up to a specified limit. For instance, if your business is sued for injury due to a hazard on the worksite, a policy may cover the medical costs to the injured party along with a set amount for your legal fees. If your business has a liability policy with a $1,000,000 limit, and you're sued for $700,000 with attorney fees amounting to around $100,000, then your policy is sufficient to cover your loss.
However, in the same scenario, if you're sued for $950,000, and you have attorney fees of $100,000, then you may need to come up with an additional $50,000 to cover the loss. This is why it makes sense to purchase more liability insurance than you think you need; better to be safe than sorry when you're putting your personal assets and your business at risk. Excess insurance is always preferable to inadequate insurance.
CGL protects a company from the two types of losses:
- When a third party is awarded damages due to bodily injury or property damage for which the company is responsible.
- The policy covers the cost of defending the insurance company or party against the charges that are named in the lawsuit. This can include attorney fees, costs for investigation, and other related legal expenses. The costs to the defense can be a huge amount even when the defense is not responsible for the damages.
The indemnity, or payment of damages, and the defense obligations are the two parts of a general liability policy.
Loss exposures is a term that refers to any property, circumstances, activity, and events that can cause an insured loss. This general liability exposure is usually broken down into four separate groups:
- Premises and Operations involves any liability that comes from the conditions in and surrounding the insured company's premises as well as any operations that take place on or off company property.
- Products and Completed Operations is any liability that involves the company's insured products or any completed works. This type of insurance is difficult to define because it not only involves products that the company is making at present, it also covers any liability for products that have already been made. There are unique risks and challenges involved with this coverage.
- Contractual Liability means that a company has taken on obligations that do not exist under normal law and has voluntarily liability that is outlined in a contract.
- Independent Contractor Liability is used to describe a person or company that hires an independent contractor to do work on their behalf. This type of liability may be used by smaller companies that hire independent contractors for some of their jobs.
Do some industry research before buying your policy, and remember that some clients may require that you carry a particular amount of general liability insurance coverage before you can even work for them. Consult with your agent to find out how much is enough, and if you already have liability insurance, if it's enough to protect you.
Do You Need Other Types Of Insurance?
Some states require that all businesses that have employees pay into the state disability insurance fund and workers compensation insurance fund, and some require that general liability is purchased as well. In addition, you may need:
- Commercial Property
- Professional Liability (errors & omissions)
- Commercial Auto
- Commercial Umbrella and More...
The commercial insurance content available here at GeneralLiabilityInsure.com is for informational purposes only and not for the purpose of providing legal or financial advice. General Liability Insure does not warrant or make any representations regarding the usefulness of or the expected results of the material contained on this website. You should contact your attorney, accountant and/or financial adviser to obtain advice with respect to any particular commercial insurance questions or issue.
Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, Markel, Nationwide, Penn America, Philadelphia, Progressive, Scottsdale, The Hartford, Travelers, USLI, Western World, Zurich & others.