General Liability Insurance
General Liability Insurance Information
General Liability Insurance for Cutler Bay & all of Greater Miami
No matter what services your business offers, you want to be able to respond to clients’ concerns, particularly if you make a mistake that harms them.You can often turn to commercial general liability (CGL) insuranceto help you do so. It will help you keep your financial security intact even when challenges arise from those who claim you caused them harm.
Come to Choice One Insurance,and you’ll have no problem finding coverage for the full scope of your business’s liabilities.Our agents are experts in all aspects of commercial insurance, and we’re here to make sure you get the right protection. Contact us at 800-547-0006 or request your free quote online now.
Common General Liability Insurance Questions
If you make a mistake that causes a customer or other non-employee a loss, then they might demand compensation from the business. General liability insurance is the coverage you can use to help you do so. A claim on yourpolicy might cover costs of third-party:
· Bodily Injuries
· Property Damage
· Personal Injuries (Libel, Slander, Copyright Infringement)
· Accidental Medical Payments (cover third party injuries regardless of fault)
· Legal expenses sustained in a lawsuit
Policies can cover negligent actions by both employees and the business owner. However, any harm caused because of intentional or criminal actions will have no coverage.
General liability policies exist because to be liable for something means that you are responsible for it.Therefore, liabilities in businesses include the responsibility you have for others’ security. If you cause someone a problem, then you will likely have to pay them to pick up the pieces. Liability insurance can provide the money to help youdo so. That way, you won’tstrain the business’s finances.
You want to minimize the financial ramifications of any liability lawsuit. So, when choosing your coverage limits, you’ll want to consider the size of the business, the number of employees, the costs of common industry claims and other factors. Many policies offer at least $1 million in coverage.
Keep in mind, besides your standard general liability coverage, you might need other policies like errors & omissions (E&O), cyber liability, directors & officers (D&O) or employment practices coverage.
Certain regulated industries must carry general liability policies. Additionally, contractors are often required by clients to buy coverage before they can bid for a project.If you rent your business space, then your landlord might require you to buy coverage, too.
Liability policies usually fall into two categories:
· Occurrence Policies: Your liability policy will have an expiration date. However, occurrence policies will offer coverage even after the expiration date. If the accident occurred while that policy was in effect, then the old policy can cover a claim that arises after it expires.
· Claims-Made Policies: On claims-made policies, both the accident in question and the claim must occur during the time between the policy’s start and end dates. Claims occurring after the end date of the policy will not have coverage unless you buy a tail endorsement to extend your coverage.
The cost of your general liability policy will vary based on numerous risk factors such as:
· The size of your business and your payroll
· Industry risks present in your operations
· The coverage limits you choose
If you choose to buy your general liability policy as part of a business owners policy (a BOP), you’ll often receive more favorable rates as opposed to buying separate CGL coverage.
However, your agent is happy to work with you in all cases to find the appropriate policy for both your coverage needs and your budget. Our unique policy comparison tools can help us look through multiple policies from multiple insurers to find one that offers you optimized coverage.