General Liability
What is General Liability Insurance?
General liability insurance is a type of insurance policy that provides coverage for businesses against common risks. This insurance protects companies from financial losses that may occur as a result of unexpected claims, such as accidents, property damage, or injuries caused to third parties.
General liability policies can be customized to fit the specific needs of different businesses. For example, a small retail shop may need coverage for customer injuries and product-related claims, while a construction company may require additional protection for on-site accidents and property damage.
The most common types of general liability coverage include:
Premises liability: This covers accidents or injuries that occur on the business property, such as slips and falls.
Product liability: This protects businesses from claims related to defective or harmful products sold or manufactured.
Completed operations coverage: This provides protection for damages or injuries caused by services or projects after they have been completed.
Advertising liability: This covers claims of copyright infringement, slander, or false advertising related to marketing efforts.
Medical payments coverage: This helps cover medical expenses if someone is injured on the business property, regardless of fault.
The cost of general liability insurance varies depending on several factors, including the size and type of business, the industry, the location, and the coverage limits required. Business owners should work with an insurance agent or broker to assess risks and select the right policy for their situation.
In summary, general liability insurance is an essential safeguard for any business. It provides protection against costly claims and legal actions, ensuring the company can continue to operate smoothly. By understanding available coverage options and working with an experienced insurance professional, business owners can secure the right level of protection for their unique needs.
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faqs
Frequently Asked Questions
Please contact us if you cannot find an answer to your question.
What is a deductible?
A deductible is an amount that you're responsible for in the event of a loss. This is the amount you pay out-of-pocket, and insurance covers the remainder.
How can I make sure that I have coverage for my valuables?
When speaking with your agent to set up your policy, any valuables (jewelry, art, family collectibles), our agent can review your policy and recommend changes to ensure your valuables have proper coverage.
Do I need to get a new appraisal to renew or change my coverage?
No. You do not need a new home appraisal during the renewal or coverage change process.
Can I keep my carrier?
Yes, In most cases you can keep your carrier, but have The Bedford Group Inc. manage your policy. This is done by transferring you policy.
