General Liability Insurance
Who needs general liability insurance?
General liability insurance is often combined with property insurance in a Business Owners Policy (BOP), but it’s also available to many contractors, store owners, property owners etc. as a stand-alone coverage.
As a contractor or small business owner, you need general liability protection to safeguard your business.
A single accident could result in a lawsuit that you might not be able to afford. A great way to protect against this is to make sure you have liability coverage that matches your level of exposure.
Typically Landlords, Property Owners, or General Contractors might require you to carry a certain amount of general liability before you can work for them.
General liability insurance for contractors
If you’re a contractor, you might only want general liability – not a full Business Owners Policy. For example, you might not own any commercial buildings that require property insurance, or need to cover payroll or other operating expenses. However, you’re still exposed to liability risks from your job.
General liability insurance cost
The cost of general liability insurance is impacted by many factors. Mainly:
1)Your business type
2)Your location
3)The level of risk your company is exposed to
4)The number of employees you have
Get it all in a Business Owners Policy
General liability, along with other coverages, is available in Business Owners Policies known in short as BOP’s. By bundling the coverages together you get a more comprehensive policy covering business furniture, Commercial buildings or Storage facilities just to name a few.