What is General Liability Insurance?
General liability insurance is a type of business insurance that protects businesses from financial liability for bodily injury or property damage that occurs as a result of their operations. It can also cover legal fees and other expenses associated with defending against lawsuits.
Why Do I Need General Liability Insurance?
General liability insurance is essential for any business, regardless of its size or industry. It can protect your business from financial ruin if someone is injured or their property is damaged as a result of your business’s activities. Even if you are not at fault, you could be held liable for damages, and legal fees can be expensive.
How Much Does General Liability Insurance Cost?
The cost of general liability insurance varies depending on a number of factors, including the size of your business, the industry you are in, and your claims history. However, there are a number of ways to save money on your insurance premiums, such as bundling your insurance policies or increasing your deductible.
Where Can I Find Cheap General Liability Insurance Near Me?
There are a number of ways to find cheap general liability insurance near you. You can shop around online, compare quotes from different insurance companies, or work with an insurance broker. You can also save money by bundling your insurance policies or increasing your deductible.
What are the Benefits of Cheap General Liability Insurance?
There are a number of benefits to having cheap general liability insurance, including:
Financial protection from lawsuits
Peace of mind knowing that your business is protected
Increased credibility with customers and clients
How Do I Get Cheap General Liability Insurance?
There are a number of things you can do to get cheap general liability insurance, including:
Shop around and compare quotes from different insurance companies
Bundle your insurance policies
Increase your deductible
Work with an insurance broker
Strengths and Weaknesses of Cheap General Liability Insurance
Strengths:
There are a number of strengths to cheap general liability insurance, including:
It is affordable, even for small businesses
It can provide peace of mind
It can help you attract and retain customers
Weaknesses:
There are also some weaknesses to cheap general liability insurance, including:
It may not provide enough coverage for your business
It may not cover all types of claims
It may not be available from all insurance companies
Table of Cheap General Liability Insurance Providers
| Provider |
Average Annual Premium |
Coverage Limits |
Deductible |
| Progressive |
$500 |
$1 million |
$500 |
| State Farm |
$600 |
$2 million |
$1,000 |
| Farmers |
$700 |
$3 million |
$1,500 |
| Travelers |
$800 |
$4 million |
$2,000 |
| Chubb |
$900 |
$5 million |
$2,500 |
FAQs about Cheap General Liability Insurance
What is the difference between general liability insurance and professional liability insurance?
General liability insurance protects businesses from financial liability for bodily injury or property damage that occurs as a result of their operations. Professional liability insurance, on the other hand, protects businesses from financial liability for errors or omissions in their professional services.
Do I need general liability insurance if I work from home?
Yes, you need general liability insurance even if you work from home. If someone is injured or their property is damaged as a result of your business activities, you could be held liable for damages.
How much general liability insurance do I need?
The amount of general liability insurance you need depends on a number of factors, including the size of your business, the industry you are in, and your claims history. However, most businesses should have at least $1 million in coverage.
What are the benefits of bundling my insurance policies?
Bundling your insurance policies can save you money on your premiums. When you bundle your policies, you are essentially buying multiple policies from the same insurance company. This can result in a discount on your overall premium.
What is a deductible?
A deductible is the amount of money you have to pay out of pocket before your insurance coverage kicks in. A higher deductible will result in a lower premium, but it will also mean that you have to pay more out of pocket if you file a claim.
What types of claims are covered by general liability insurance?
General liability insurance covers a wide range of claims, including:
- Bodily injury
- Property damage
- Libel and slander
- False advertising
- Malicious prosecution
What are the exclusions to general liability insurance?
General liability insurance does not cover all types of claims. Some common exclusions include:
- Intentional acts
- Criminal acts
- Acts committed by employees outside the scope of their employment
- Pollution
- Workers’ compensation claims
How do I file a general liability insurance claim?
If you need to file a general liability insurance claim, you should contact your insurance company as soon as possible. Your insurance company will provide you with a claim form and instructions on how to file your claim.
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