General liability insurance, also known as business liability insurance, is an essential coverage for all businesses. Accidents such as injuries or property damage can occur on company grounds, and they can be expensive. General liability insurance can protect you from covering out-of-pocket costs related to such incidents.

What Is General Liability Insurance?

General liability insurance provides financial protection against incidents that occur as a result of normal business operations.

What Does General Liability Insurance Cover? 

Commercial general liability insurance may provide coverage for a company’s legal liability for third-party property damage, bodily injury and personal and advertising injury.  

In addition to providing compensation for damages, commercial general liability insurance may pay associated legal fees (e.g., attorney fees, settlements and judgments). 

What Are the Types of General Liability Insurance?  

Commercial general liability insurance may pay for damages up to the policy’s limits. Standard general liability insurance policies typically provide coverage for three types of legal liability, including:  

• Coverage A: Bodily injury and property damage liability arising from business or premises operations. 
•  Coverage B: Personal and advertising injury, including allegations of libel, slander, copyright infringement and invasion of privacy. 
•  Coverage C: Medical payments suffered by a nonemployee on the insured company’s property or due to exposure to the company’s operations.  

 

How Much General Liability Insurance Do I Need?

General liability insurance needs vary depending on the business. Standard coverage needs are generally dependent on the following three factors:

• Perceived risk. Consider the risk associated with your business operations and functions. For example, if you manufacture heavy machinery, you would likely need more coverage than another organization that manufactures stuffed animals.
• Premises and operations liability. If you operate in a state with a reputation for rewarding hefty damages, you may wish to purchase higher liability limits.
• Type of product manufactured. If you manufacture a potentially dangerous product, you may want to carry higher liability limits.

The agents at Crawford-Butz Insurance can assist you in learning more about your insurance needs and how much general liability insurance you might want to have for your business.

Get General Liability Insurance Today

If you are a business owner near St. Louis, Missouri, we can assist you. The experienced agents at Crawford-Butz Insurance are dedicated to helping business owners learn more about potential general liability insurance policies so they can decide on the right coverage for their businesses.

Reach out to our agency today at 314-752-2500 to learn more.