Understanding General Liability Insurance!
In today’s litigious society, even small mishaps can result in large lawsuits. That’s why general liability insurance, along with property and worker’s compensation insurance, is essential for most companies. Liability insurance protects the assets of a business when it is sued for something it did (or didn’t do) to cause an injury or property damage.
General liability insurance can be purchased separately or as part of a business-owner’s policy (BOP). A BOP bundles property and liability insurance into one policy; however, the liability coverage limits are generally pretty low. Businesses that need more coverage usually purchase liability insurance as a separate policy. The amount of coverage a business needs depends on a couple of factors:
- Perceived risk. Business owners should first consider the amount of risk associated with their business. For example, a business that manufactures heavy machinery is at a greater risk of being sued than a company that manufactures linens, and would therefore need more liability insurance.
- The state in which you operate. Businesses that operate in states with a history of awarding high damage amounts to plaintiffs typically need to carry liability insurance with higher coverage limits. An insurance broker can offer guidance in this area.
Filed Under:
Afinity/Association Insurance Programs,
Agricultural/Farm Insurance,
All Terrain Vehicle (ATV) Insurance,
Annuities,
Ardmore PA,
Aston PA,
Auto/Car Insurance,
Bala Cynwyd PA,
Basic Liability Car Insurance,
Benefit Consultants,
Berwyn PA,
Boats, Marine & Watercraft Insurance,
Brookhaven PA,
Bryn Mawr PA,
Bus/Coach Insurance,
Business/Commercial Insurance,
Chadds Ford PA,
Collegeville PA,
Commercial & Business Insurance,
Commercial Truck Insurance,
Condominium Insurance,
Conshohocken, PA,
Contractors Insurance,
Dental Insurance - Individual,
Devon PA,
Disability/Income Replacement Insurance,
Downingtown PA,
Drexel Hill PA,
Earthquake Insurance,
Employee Benefits/Group Insurance,
Exton PA,
Financial Services,
Fleet Vehicle Insurance,
Flood Insurance,
General Liability Insurance,
Glen Mills PA,
Group Dental Insurance,
Group Disability/Income Replacement - Long Term,
Group Health Insurance,
Group Identity Theft Protection Plans,
Group Life Insurance,
Group Long Term Care,
Group Orthodontics Plans,
Group Pre-Paid Legal Plans,
Group Prescription Drug Plans,
Group Vision Insurance Plans,
Havertown PA,
Health Insurance for Seniors,
High Risk Auto Insurance,
Home Health Care Insurance,
Homeowners Insurance,
Horsham, PA,
Identity Theft Protection Plans,
Internation Travel Insurance,
Lansdale, PA,
Life Insurance,
Life Insurance for Seniors,
Limousine Insurance,
Local Insurance Agents & Agencies,
Long Term Care Insurance,
Malvern PA,
Media PA,
Medicare Supplement Insurance,
Mortgage Insurance,
Motorcycle Insurance,
Newtown Square PA,
Norristown PA,
Nursing Home Care Insurance,
Online Insurance Quotes,
Paoli PA,
Pet Related Employee Benefit Programs,
Phoenixville PA,
Pottstown PA,
Pre-paid Legal Plans,
Prescription Drug Plans,
Prescription Drug Plans-Individuals,
Recreation Vehicle RV Insurance,
Rental Property Coverage,
Renters Insurance,
Royersford PA,
SR-22 Auto Insurance,
Schwenksville, PA,
Senior Insurance,
Serving Berks County PA,
Serving Chester County PA,
Serving Delaware County PA,
Serving Montgomery County PA,
Spring City Pa,
Springfield PA,
Supplemental Employee Benefits,
Term Life Insurance,
Umbrella/Excess Liability Insurance,
Universal Life Insurance,
Upper Darby PA,
Variable Universal Life Insurance,
Villanova PA,
Vision/Glasses Plans,
Wayne PA,
West Chester PA,
Whole/Permanant Life Insurance,
Workers Compensation Insurance,
disability/income replacement - short term,
personal insurance
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