Business Liability Insurance
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Check out our insurance for small business page to learn about small business coverages. If you still need guidance on whether general liability insurance is right for you, we're here to help. Contact our licensed agents with any of your concerns or questions.
While an LLC provides some protection from personal liability for members, the protection is not absolute and your business can still be sued. General liability insurance for your LLC helps protect your small business from the consequences of third-party claims for injury or property damage.
Being properly insured with business liability insurance is the best way to protect your company. We're here to help. Here are a few examples of companies that may be better suited to our other business insurance products
GEICO Insurance Agency, LLC has partnered with Hiscox Insurance to provide business insurance products. When you click on \"START QUOTE\" and \"Start your quote now\", you will be taken to the Hiscox website, which is not owned or controlled by GEICO.
GEICO has no control over the privacy practices of Hiscox and assumes no responsibility in connection with your use of their website. Any information that you directly provide to Hiscox is subject to the privacy policy posted on their website. All business products offered are written on an admitted basis (Hiscox Insurance Co., Inc.) with A.M. Best credit rating of 'A' (Excellent) and financial size XI.
Business Insurance coverages are written through non-affiliated insurance companies and are secured through the GEICO Insurance Agency, LLC. We can help you secure business insurance in all states except Hawaii.
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
Liability insurance can help cover medical expenses, attorney fees and damages you are legally responsible for. Nationwide can help with defense costs, regardless of fault, as well as protection for judgments, court costs and more.
Nationwide offers great basic plans that can be easily customized with a wide variety of options so you can select the coverage you need. We understand that you need complete business protection, not one-size-fits-all coverage. Our agents will work with you to determine the right type of commercial liability insurance you need for every stage of your business. You can enhance a basic policy with additional commercial liability insurance options, known as endorsements, that meet the specific needs of your business.
Provides protection for bodily injury and property damage that occurs away from your premises that are caused by your products or your work. The amount of coverage and the level of risk depend on your business type.
This business liability insurance coverage pays for legal costs if a customer trips and suffers an injury at your business, or if you accidentally damage someone's property. This policy also covers personal and advertising injuries, such as libel and copyright infringement.
Small business owners often need general liability insurance to fulfill requirements for a lease, loan, or contract. For example, a landlord might ask to see a certificate of insurance when you sign a commercial lease.
General liability insurance covers common business risks like customer injury, customer property damage, and advertising injury. It protects your small business from the high costs of lawsuits and helps you qualify for leases and contracts.
This business insurance policy covers legal defense costs if someone sues over a bodily injury, property damage, or advertising injury. Your policy can pay for everything from hiring a lawyer to court-ordered judgments and settlements.
Most commercial general liability (CGL) policies include product liability insurance. This type of coverage helps pay for lawsuits and other financial losses related to defective products, labeling errors that harm customers, and other product risks.
If someone sues a business owner or employee over slander, libel, false arrest, or copyright infringement, general liability insurance can help pay for legal defense costs and any resulting settlement or judgment.
Most companies need this insurance, especially if you rent or own an office or commercial space. Even if that doesn't apply to you, small businesses that work directly with clients and customers benefit from general liability insurance.
Generally not, but states may mandate it for certain industries like construction and cannabis. Depending on your type of business, you may also need coverage to get a professional license in your state.
A landlord or client may ask your business to show an ACORD certificate of insurance as proof of your general liability insurance coverage. This document verifies that your business can handle any personal injury or property damage lawsuits.
Traditional insurance agents can take several weeks to send a certificate of general liability insurance to new customers, which could be an issue for a business owner who needs immediate proof of insurance to sign a pending contract or lease.
Workers' compensation insurance is the policy that covers medical expenses and disability benefits for employees who are injured on the job. It's required in most states for businesses that have employees.
A business owner's policy (BOP) helps pay for replacement of stolen business property. It also covers business property damaged by a fire or certain weather events. This policy combines general liability insurance with commercial property insurance at a discount.
Most small businesses opt for the standard $1 million per occurrence / $2 million aggregate policy limits. This means the policy will pay up to $1 million to cover a single claim, with a $2 million limit for the lifetime of the policy, typically one year.
If your business has high risks or revenue, you can extend your general liability insurance coverage with commercial umbrella insurance. Umbrella insurance increases your maximum policy limit, meaning your insurance company can cover more expensive lawsuits.
For some industries, such as media and advertising professionals, general liability insurance will not cover libel, slander, or other advertising injuries. These businesses instead require media liability insurance, which is a form of professional liability insurance.
Read your policy carefully to see what is and isn't covered. To fill other gaps in coverage, you can also add endorsements to your policy. Check with a licensed insurance agent to make sure your general liability policy includes all the coverage you need.
The information provided on this website does not constitute insurance advice. All content and materials are for general informational purposes only. Complete Insureon's online application and contact one of our licensed insurance professionals to obtain advice for your specific business insurance needs.
Directors and officers (D&O) liability insurance is business insurance that is intended to protect the directors and officers of a company. Directors and officers can be sued by third parties, such as their suppliers and customers, or they can be sued by their employees. D&O liability insurance protects the personal assets of directors and assets in the event they are sued.\"}},{\"@type\": \"Question\",\"name\": \"What Are the Different Types of Business Insurance\",\"acceptedAnswer\": {\"@type\": \"Answer\",\"text\": \"A business can purchase a variety of insurance policies to protect it from a multitude of risks. Each type of insurance policy insures against different risks. Depending on the business, it may need a few different types of insurance. Common types of business insurance include general liability insurance, which protects against bodily harm to others, property damage, and personal injury; commercial property insurance, which protects against damage to the property that you have bought or rented for your business; business income insurance, which protects against the loss of business income; professional liability insurance, which protects against errors that your business has made in the products/services it sells, and data breach insurance, which protects against damages caused by data breaches/cyber attacks.\"}},{\"@type\": \"Question\",\"name\": \"Is a Sole Proprietor Personally Liable for Debts\",\"acceptedAnswer\": {\"@type\": \"Answer\",\"text\": \"Yes, a sole proprietor is personally liable for the debts of the company. A sole proprietorship is typically one individual running a business who is responsible for all debts and other issues, such as if they were sued. There is no protection against the owner's personal assets. An LLC, on the other hand, separates a business from the owners, so that in the event an LLC is sued or there are outstanding debts, legally the personal assets of the owners of an LLC cannot be claimed.\"}}]}]}] Investing Stocks Bonds Fixed Income Mutual Funds ETFs Options 401(k) Roth IRA Fundamental Analysis Technical Analysis Markets View All Simulator Login / Portfolio Trade Research My Games Leaderboard Economy Government Policy Monetary Policy Fiscal Policy View All Personal Finance Financial Literacy Retirement Budgeting Saving Taxes Home Ownership View All News Markets Companies Earnings Economy Crypto Personal Finance Government View All Reviews Best Online Brokers Best Life Insurance Companies Best CD Rates Best Savings Accounts Best Personal Loans Best Credit Repair Companies Best Mortgage Rates Best Auto Loan Rates Best Credit Cards View All Academy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All TradeSearchSearchPlease fill out this field.SearchSearchPlease fill out this field.InvestingInvesting Stocks Bonds Fixed Income Mutual Funds ETFs Options 401(k) Roth IRA Fundamental Analysis Technical Analysis Markets View All SimulatorSimulator Login / Portfolio Trade Research My Games Leaderboard EconomyEconomy Government Policy Monetary Policy Fiscal Policy View All Personal FinancePersonal Finance Financial Literacy Retirement Budgeting Saving Taxes Home Ownership View All NewsNews Markets Companies Earnings Economy Crypto Personal Finance Government View All ReviewsReviews Best Online Brokers Best Life Insurance Companies Best CD Rates Best Savings Accounts Best Personal Loans Best Credit Repair Companies Best Mortgage Rates Best Auto Loan Rates Best Credit Cards View All AcademyAcademy Investing for Beginners Trading for Beginners Become a Day Trader Technical Analysis All Investing Courses All Trading Courses View All Financial Terms Newsletter About Us Follow Us Facebook Instagram LinkedIn TikTok Twitter YouTube Table of ContentsExpandTable of ContentsWhat Is Business Liability InsuranceHow It WorksThe CostFAQsBusiness InsuranceSmall Business InsuranceBusiness Liability InsuranceBy 59ce067264
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