Commercial General Liability Insurance

In a litigious society, almost every business risks getting sued. If this happens, the right insurance can provide financial protection that can help prevent costly claims from putting your organization out of business. Continue reading to learn how general liability insurance can benefit your business or contact Hammer Agency today.

What Is General Liability Insurance?

General liability insurance, also known as commercial general liability insurance or business liability insurance, can help pay for losses arising from allegations that your business caused third-party harm. It is a legally binding contract between you and your insurance company.

What Does General Liability Insurance Cover?

Your general liability insurance policy can help pay for claims arising from your everyday business operations. While individual policies may vary, the following list contains common types of general liability insurance coverages:

• Property damage liability can help cover costs arising from allegations that your business caused property damage to a third party as a result of your everyday business operations or services.
• Bodily injury liability can help pay for expenses (e.g., lost wages and legal fees) if your business is held legally responsible for causing third-party injuries.
• Completed operations coverage can help pay to repair or replace third-party property if it’s damaged by your company’s operations.
• Personal and advertising injury liability can help cover costs (e.g., legal fees and settlements) if your business is held liable for publishing false or misleading statements, using stolen advertising ideas or causing personal injury.
• Medical payments coverage (MedPay) can help pay medical bills for nonemployees if your business causes an injury that requires medical attention.

Employee injuries will generally not be included in a general liability insurance policy. For more information on what our general liability policies cover, contact Hammer Agency.

Do I Need General Liability Insurance if I Work from Home?

Typically, a standard homeowners insurance policy will not cover losses associated with home-run businesses (e.g., a customer is injured in your driveway). If an incident occurs, you could have to pay associated legal fees and medical expenses out-of-pocket. You should consider buying general liability insurance coverage to protect your assets if you work closely with customers or clients.

Is General Liability Insurance Required by Law?

Although general liability insurance isn’t usually mandated, it may be required in some states for specific industries. Clients or customers may also ask for proof of general liability insurance to do business with you. Ask your insurance agent if you could benefit from general liability insurance coverage.

Where Can I Buy General Liability Insurance?

Even when general liability insurance isn’t strictly required, protecting your business from financial harm is essential. Contact Hammer Agency for a general liability insurance quote and to speak to an insurance agent.

We have offices in Littleton and Denver, Colorado.