Most small businesses need this coverage. It guards against things like bodily injury, property damage, completed operations and advertising injury that arise from your business. Sometimes people refer to this coverage as "business insurance".
General liability insurance (GL), often referred to as business liability insurance, is coverage that can protect you from a variety of claims including bodily injury, property damage, personal injury and others that can arise from your business operations. General liability insurance quotes usually include:
General liability insurance is often combined with property insurance in a Business Owners Policy (BOP).
As a contractor or small business owner, you need some form of business liability insurance to safeguard your livelihood.
A single accident could result in a lawsuit that you might not be able to handle. A great way to protect against this is to make sure you have liability coverage that matches your level of exposure.
Some employers or clients might also require you to carry a certain amount of general liability before you can work for them.
If you're a contractor, you might only want general liability - not a full BOP. For example, you might not own any commercial buildings that require property insurance, or need to cover payroll or other operating expenses. However, you're still exposed to liability risks from your job.
You might be eligible to get general liability insurance, without the extra coverages in a BOP, through Germania or the Progressive Advantage Business Program. We offer general liability, as well as Blanket Additional Insured Coverage to contractors who qualify.
Blanket Additional Insured Coverage extends your existing liability insurance to other entities as required by some contracts with employers.
General liability, along with other coverages, is available in BOPs written through Germania or the Progressive Advantage Business Program.
If you need to protect things like personal property used for your business, or commercial buildings such as garages or storage facilities, you might require the additional protections provided in a BOP.
Is general liability insurance required by law?
No, but failing to carry general liability insurance could result in you having to pay for all the expenses related to a claim against your business. For example, while visiting your office a client slips on a rug and breaks their hip. Without general liability insurance, you could be solely responsible for all the medical bills and legal fees. So, even though it’s not required by law, it should be a priority for your business.
Does general liability insurance have a deductible?
Yes. You choose the amount of your general liability deductible when you get a quote. A deductible is a fixed out-of-pocket expense you agree to pay before your coverage starts to pay.
Does general liability insurance cover theft?
General liability insurance only pays for third-party damages, not yours. You’re considered the “first-party”. The “third-party” is the one that has a claim against you. This means general liability won’t cover your property or equipment against theft or damage. To protect your property, as an authorized agent of both Germania and Progressive, we can offer Business Personal Property coverage as a part of a Business Owners Policy.
Is general liability insurance tax deductible?
Yes. Since general liability premiums are considered “a cost of doing business”, they usually can be written-off at tax time. That said, it’s a good idea to consult a tax professional to make sure.
Texas is big! It’s filled with diverse people, environments, weather, and homes. With so many different ways to live, your insurance needs to be flexible enough to cover the way you live. Kelley Insurance Agency, offers a variety of customizable property and liability insurance products, coverages, and endorsements. Our staff is here to help when you are considering our General Liability Insurance coverages.