General Liability Fire/Water Damage: If your company accidentally causes a fire or floods another person’s home, general liability will cover losses related to these incidents. Bodily Injury Claims. Workers Compensation Work Injury: If one of your employees suffers an injury while working on behalf of your company, general liability would provide compensation if your employee filed a claim related to his or her injuries at work, regardless of fault Workers compensation
General Liability only carries $500,000/$1 Million Coverage’s? Most general liability policies cover up to $500,000 per occurrence/$1 million for each year
General Liability only carries $500,000/$1 Million Coverage’s? Most general liability policies cover up to $500,000 per occurrence/$1 million for each yearGeneral Liability only carries $500,000/$1 Million Coverage’s? Most general liability policies cover up to $500,000 per occurrence/$1 million for each year
If you own a business, whether it’s a multi-national corporation or a freelance gig, it’s essential to protect yourself and your business with general liability insurance New York. This type of policy will help protect you from legal costs and potential damages if someone is injured on your property or if something is damaged during one of your events. Your business may also require workers’ compensation coverage, which pays for lost wages and medical expenses for employees who have been hurt on the job. There are other types of insurance, such as professional liability insurance, that can be combined with a general liability policy or purchased separately.
You might know that your business is required to carry general liability insurance, but do you know what it covers? If you’re like most business owners, you might not even realize that general liability coverage protects against many different kinds of accidents. The truth is that you can rest easy knowing that your business has one of the strongest financial protections out there. General liability insurance will cover any physical injuries or damages to property caused by your company—but it also goes far beyond those two things.
For example, if someone slips and falls on ice outside your store (an all-too-common occurrence), then general liability coverage will help pay for their medical bills and offer them financial support until they’re able to return to work.
General liability insurance is, as its name suggests, an insurance policy that covers your business for all types of damages and losses resulting from claims or lawsuits. If someone slips on your sidewalk, you’re covered. If a customer gets food poisoning at one of your restaurants, you’re covered. It’s usually part of a business owner’s commercial general liability insurance (CGL), which is pretty much required if you run any kind of business that involves serving customers or working with third parties who could file a claim against you later on. How much does general liability cost? Most experts will say that getting some sort of coverage is more important than how much it costs.