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General Liability Insurance
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Coverage is applicable to injuries occur: |
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Bodily injury to others. |
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On your business premises. |
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Property damage to property of others. |
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Off your premises while you are working. |
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Personal injury claims (libel, slander, defamation of character). |
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From use of your products by others. |
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Advertising injury (problems that arise from the way you might advertise your goods or services). |
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From your "products or completed operations". |
There are some very important exclusions or restrictions of coverage that your agent will discuss with you. Many of these restrictions require additional policies or endorsements to properly protect you.
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Property CoverageIf you own the building that you operate your business from or in, you will want to cover the building from potential damage by loss.
Everyone needs some type of coverage for their business contents, whether they own the building containing the business contents or lease.
You might also want to cover the property of others on which you perform work or service. Damage you cause to property that you work on is limited under your General Liability form.
There are various types of policies that will provide coverage for your building, your contents or property of others. Your agent can identify the coverages that best fit your property needs as well as your pocketbook.
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Business Income CoverageWhen your business property (building or contents) suffers damage and you are unable to continue your operations, you will suffer the following types of losses:
- Loss of income created by your inability to conduct your usual operations.
- Financial loss due to payment of expenses that continue even if your operations are halted.
- Extra expenses above normal to resume operations as quickly as possible, get back up and running and let your customers know where you are, how to reach you, and more.
A special policy is necessary to provide you with reimbursement for these catastrophic losses. Consult your insurance agent for the coverage that best fits your needs.
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Business Auto CoveragesCommercial auto coverage is similar to personal auto coverage. Some coverages available for purchase are:
- Bodily injury to others
- Property damage to others
- Uninsured and Underinsured motorists coverage
- Medical payments
- Collision coverage
- Comprehensive coverage
Please refer to the Personal Lines Personal Auto discussion for more detail or your insurance agent for exposure analysis. Consult your agent for an explanation of important policy exclusions and restrictions.
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Workers' Compensation InsuranceA state mandatory coverage that provides mandated benefits to employees when they are injured on the job. The policy provides the injured employee with lost wages, medical expenses and rehabilitation expenses. The policy also protects the employer when sued by the employee for work related injuries
There are some restrictions and exclusions that your agent can explain to you.
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Employment Related Practices Liability CoverageYour employee or potential employee could sue you for such things as:
- Wrongful termination
- Discrimination
- Sexual Harassment
These types of claims presented against you are NOT covered under your General Liability or Workers' Compensation policies. You must purchase this separate policy for legal defense costs and protection against court judgments.
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Commercial Umbrella CoverageA policy that will provide additional liability limits over those that you purchased under your General Liability, Commercial Auto and Workers' Compensation policies. In this lawsuit happy society, one can never know how much coverage is enough, but more is definitely better!
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Professional Liability CoverageDuring the course of your profession you might make incorrect decisions or judgments that ultimately cause financial harm or injury to others. Often these losses are NOT covered under your General Liability policy. A separate policy to cover "errors and omissions" that you may make during the course of your profession is necessary. Some usual professions needing this coverage are doctors, lawyers, real estate agents, accountants, architects and more.
Contact your insurance agent to determine if you have a "professional liability" exposure in addition to your "general liability" exposure.
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Directors and Officers Liability CoverageA coverage necessary to protect corporate officers, directors, and board members or officers, directors and board members of non-profit corporations or associations when sued for decisions or judgments that cause financial harm or injury to others. Again, these types of losses are not covered under your General Liability policy and a separate policy is necessary to protect the individual and personal assets of the officers and directors from loss through court judgments or settlements.
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Pollution Liability CoverageCoverage for bodily injury or property damage that results from pollutants that you might use or produce during the course of your business activities must be covered under a separate policy as the general liability policy excludes such losses. You should discuss any potential pollution exposure that you might have with your insurance agent.
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Other coverages that your business may need include:
- Flood Insurance
- Special Computer coverage
- Bonds - guarantees that an obligation will be fulfilled
- Inland Marine coverage for "moveable property", mobile equipment, property of others
- Boat insurance
- Employee Dishonesty Coverage
- Fine Arts
- Special Event Coverage
- Liquor Liability
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