Insurance coverage can protect many things, including your car, your home, your health, and your family. Just as there are many types of personal insurance, proper coverage is also extremely important for businesses. Many business owners opt to purchase a type of insurance referred to as “general liability insurance.” If you own a business, you should discuss your options with a general liability insurance agency today.
What is General Liability Coverage?
Also commonly called Commercial General Liability (CGL or GL) insurance, general liability insurance protects your business if a third party files a legal claim for Bodily Injury, Property Damage or Personal Injury. Facing a lawsuit can be very expensive, as it can require investigation, fees for attorneys and witnesses, and for any judgments entered against your business by the courts.
Do I Need this Coverage if I Already Have Professional Liability Insurance?
Professional liability insurance is another type of commercial coverage that protects against lawsuits. However, professional liability insurance covers lawsuits regarding professional negligence and that insurance will not cover a lawsuit if a customer slips and falls or suffers another type of physical injury in an accident. Medical costs for injuries can rise into the hundreds of thousands of dollars, so having coverage for these accidents is important.
How Much is This Type of Insurance?
Like any other type of insurance, the price for coverage will depend on many factors. Just like auto rates can vary based on driving history and credit score, your costs of general liability insurance will depend on the size of your company, the years you have been in business, and the type of industry you are engaged in. Our experienced agents can compare rates to find the best price for you.
If you are a business owner, an accident on the part of a customer or business partner can be devastating for your bottom line and can even cause your business to go bankrupt. To avoid this, you should always plan ahead and ensure you have proper coverage.
Call 203-367-7704 for a Quote Today
As a business owner, you need to make sure both your commercial and personal assets are protected in the event something unexpected occurs and you face liability. At the office of Berliner-Gelfand & Co., Inc., we work closely with each client to determine which type of insurance coverage is right for your personal and business needs. If you want a quote or more information about insurance products, call our Connecticut insurance agency for assistance 203-367-7704.