Throughout your business’s operations, there may be times when you make a mistake or are otherwise involved in situations from which other parties accrue injuries, damages or financial losses. In these situations, you could be found legally responsible for the affected parties’ losses, meaning you must have recourse to ensure you can manage these unexpected financial burdens. With this in mind, general liability insurance emerges as an essential loss control measure.

What Is General Liability Insurance Coverage for Businesses?

General liability insurance is integral to most businesses’ overall coverage portfolios. These policies are critical in limiting potential losses related to incidents affecting third parties, such as customers and passersby. For example, if you are contracted to work on a construction site and a guest is injured due to a trip hazard or falling object, general liability insurance for construction contractors may make all the difference.

What Does Comprehensive General Liability Insurance Cover?

Comprehensive general liability insurance is an older term for these types of policies, and although some insurers may still use or recognize it, there is typically no difference between the coverage offered. Regardless of terminology, general liability protection can help pay for financial losses and legal expenses arising from the following:

• Bodily injuries—If your business is at fault for another party’s injuries, general liability insurance can help pay for their medical bills, lost wages and other financial losses.
• Property damage—Your business’s insurance can provide financial assistance to repair or replace other parties’ property or possessions if you were at fault for damaging them.
• Personal and advertising injuries—General liability insurance can cover losses arising from third-party personal injuries and reputational harm, such as slander or libel.

Get the Right Coverage

Contact the dedicated team at Anthony Mercado Agency today for tailored coverage solutions, such as small business and liability insurance or contractors liability coverage.