General Liability Insurance
General liability insurance is an operating requirement for businesses today. It is the backbone of your liability insurance coverage and one that cannot be overlooked for its importance in any risk management plans.
At Insurance Center of North Jersey, we understand that a small business owner doesn’t have unlimited funds to purchase insurance. With that in mind, we work with you to keep the cost of your coverage low while providing the robust protection you need.
What Does General Liability Insurance Cover?
It is not the sum total of liability coverage businesses in today’s litigious climate need, but it does serve a specific and necessary purpose by paying for things like medical costs, legal fees for your defense, settlements awarded against you, etc. – up to your coverage amount – should someone become injured while on your property or their property becomes damaged on or by your property.
What Types of Businesses Need General Liability Insurance?
It’s true that you may cross all the T’s and dot all the I’s in your business. Unfortunately, accidents happen in every business. There’s no way to avoid them altogether. Some accidents are tragic and poorly timed, resulting in a worst-case scenario that lands your business in court.
All businesses; large corporations, small businesses, and contractors need the protection that general liability coverage provides. General liability coverage is provided in a standard business owner’s policy (BOP), but for those businesses that are ineligible for a BOP they would require a standalone general liability policy.
Depending on the risks your particular business faces when it comes to litigation, you may also need the additional protection of an umbrella policy that will kick in one once the limits of your general liability policies have been exhausted.
Does General Liability Coverage have Exclusions?
There are limits to what general liability insurance covers by definition, as well as exclusions, or items that are not covered by general liability insurance for business. Below are some of the common exclusions:
- Employee injuries sustained on the job. For this, you will need workers’ compensation coverage.
- Professional mistakes and errors. Mistakes and errors happen, even for professionals. For these you will need professional liability or errors and omissions insurance coverage.
- Data breaches. Businesses that keep computerized records of employees or customers need to invest in cyber liability coverage in order to help shield your business from the fallout of data breaches.
- Auto related accidents, injuries, and property damage. In this situation you will need commercial auto insurance or non-owned auto insurance. In most instances hired & non-owned auto can be added to the General Liability for an additional premium.
Other types of liability responsibilities not covered by general liability include punitive damages, intentional acts, and workmanship of products.
The types of liability protection businesses throughout New Jersey need include the following:
- Employment Practices Liability Insurance
- Medical Payments Coverage
- Employee Benefits Liability Insurance
- Excess Liability Coverage
- Fire Liability Coverage
Robust liability coverages for your business certainly help to mitigate your risks.
Why Turn to Insurance Center of North Jersey for Your General Liability Coverage?
Insurance Center of North Jersey offers a wide range of options for businesses when it comes to general liability insurance that won’t leave you reeling over how much that commercial liability insurance costs. We have served New Jersey businesses faithfully for more than 80 years and believe that our dedication to reliable quotes and effective coverage is part of the secret for our long-term success.