General Liability Insurance - The  Insurance Product EVERY Business Should Have

 

General Liability is a comprehensive policy which provides coverage for bodily injury and/or property damage that happens due to many different types of losses that can occur during business operations.  If your business is located in Denver Colorado, Golden, Lakewood, Arvada, Wheat Ridge, Morrison or Evergreen a business insurance broker can help determine the needs of your business. Let’s look at some the main types of losses that are covered by this policy.

   

 

• Premises Liability

 

If a business rents an office space, storage yard or owns a building or land, this policy will provide repayment of medical bills to any visitor, vendor or third party who might be injured while on the business location (this excludes employees who should be covered under work comp for their injuries at work).

            EXAMPLE – Someone slips on your we floor and is injured.

If an employee or business owner accidentally damages any portion of the ‘rented’ business space, the repair costs will be reimbursed by the policy. 

            EXAMPLE – An employee starts a fire in the lab and burns down a portion of the building where the business leases the lab.

 

• Off Premises Liability

While employees are out in the community (away from the business premise or location) they will have coverage if they injury someone or damage another entity’s property.

            EXAMPLE – An employee is late for an appointment and is running through the parking lot. He accidentally knocks a woman over and hits her head on the pavement.  Or an employee is on a sales call and accidentally spills his coffee on the company’s server and shuts down their business operations for 24 hours.

 

• Products Completed

This Coverage pays for injuries or property damage that arises out of the manufacture, distribution or use of the products they make or sell. 

           EXAMPLE – An auto repair shop mechanic doesn’t tighten a tire properly, it dislodges while the customer is driving and causes an accident.

 

• Personal & Advertising Injury

Pays for damages to others in connection with the insured’s advertising of its products or services such as:  defamatory or disparaging material, liable, slander, invasion of privacy, copyright infringement and/or misappropriation of advertising ideas.

           EXAMPLE – A company places a print ad disparaging the competition who finds it offensive and sues the company for defamation of character.

 

General Liability can be purchased as a ‘stand alone’ policy from a commercial insurance broker near you, but usually this coverage is packaged along with other important coverages in a Business Owners Policy (BOP) or a Commercial Package Policy (CPP) where you can take advantage of better pricing. 

We are a Small Business Insurance broker located in Golden CO and would like to learn all about your business.  Only then can we match your business’ unique needs with the insurance coverage required to protect the business assets from a liability lawsuit.   Request a Call Back today and let us make sure your business is insured properly.