Understanding General Liability Insurance: Essential Coverage for Business Protection

Business owners and contractors need general liability (GL) insurance to safeguard their financial health. Just one incident could lead to a lawsuit that threatens your business if you don’t have adequate liability coverage. GL insurance provides protection against a variety of claims that may stem from your business activities, including bodily injuries, property damage, and personal injury claims.

Coverage Offered by General Liability Insurance

General liability coverage can be part of a business owner’s policy (BOP) or obtained as a separate policy. It protects your business from a wide range of risks, including property damage, bodily injuries, damage to rented spaces, medical expenses, advertising errors, and harm to your business’s reputation.

Property Damage and Bodily Injury

This coverage defends against claims for bodily injury or property damage that arises from your business operations or products.

Damage to Rented Premises

If your business operates in rented facilities, GL insurance can cover damages to those premises caused by events like fires, lightning, or explosions.

Medical Payments

If an individual is injured on your business property, general liability insurance can help cover their medical treatment costs.

Advertising Errors

This insurance protects your business from claims arising from mistakes made in advertising your goods, services, or products.

Harm to Reputation

GL insurance provides protection against allegations of slander, libel, wrongful eviction, malicious prosecution, and violations of privacy.

Costs of General Liability Insurance

The expense of general liability coverage for your business depends on several factors, including:

• Type of business
• Number of employees
• Degree of risk exposure
• Location of the business

Some businesses inherently have a greater risk exposure than others. At Ocon Insurance Agency TX in Dallas, Texas, our agents are committed to helping you obtain comprehensive general liability coverage for your business. We strive to find the appropriate level of coverage at the most competitive prices.