General Liability Buyers Guide
Introduction to general liability
Table of Contents
- Introduction to general liability
- Before you buy commercial general liability insurance
- Defining insurance coverage
- Insurance gaps and overlaps
- Find a General Liability supplier
Because mistakes happen, businesses need general business liability insurance.
Essentially, business liability insurance is there to clean up after your business's mistakes, providing coverage for claims related to negligent business activities (injury related to the use of your product, for example) or the failure to use reasonable care. The insurer typically pays damages and legal defense fees as well as case-settlement charges.
How much general liability coverage do you need? This can be difficult because benchmarks really do not exist. While some brokers recommend that your coverage match that of the largest court award for a case relevant to your business, others base recommendations on company assets.
How much will general liability business insurance cost? There's not an easy answer, as it will depend greatly on the type of business you're in, how much coverage you choose, and other factors. Try requesting customized business insurance quotes.
Moreover, unlike property, which has a fixed value, liability claims do not have any limitations. In this lawsuit-crazed society, the sky could indeed be the limit. To get a rough idea on pricing, check out what other BuyerZone users paid for liability insurance.
