How Does General Liability Work?

How Does General Liability Work?
by Arthur Williamson,

Every business requires general liability insurance as it protects them in cases of third-party damages. So what is general liability insurance? We brought in a panel of experts to explain how general liability works, what it covers and why it is essential for a business.

The panel of experts include;

  • Melanie Hanson, CEO EducationData Loan Finance;
  • Ann Martin, Director of Operations CreditDonkey Business Checking;
  • Sally Stevens, Co-founder FastPeopleSearch;
  • Evan W. Walker, Attorney The Law Office of Evan W. Walker;
  • John Espenschied, Owner Insurance Brokers Group;
  • Imani Francies, Insurance Expert USInsuranceAgents.com;

Melanie Hanson is the CEO of EducationData Loan Finance. According to Melanie...

If your business presents any risks to the health or property of others, general liability insurance is a must. There are a lot of different types of risks to consider here. General liability covers injury or property damage not only from your products but also in the course of your daily operations, which means it includes any risks to your employees in the course of their duties.

About the only type of business I could imagine that wouldn't need to consider general liability insurance is one with a fully remote workforce and an intangible product or service. 

Ann Martin is the Director of Operations of CreditDonkey Business Checking. According to Ann...

General liability coverage exists to protect both the employer and the employee who files a general liability claim. Companies lose a huge amount of money due to claims that anyone can make for harm or wrongdoing. 

Therefore, it is imperative that companies invest in general liability insurance to save money and protect their business operations. I suggest businesses pay their general liability insurance premiums per year as opposed to per month so that they can save money and guarantee coverage!

Sally Stevens is the Co-founder of FastPeopleSearch.io. According to Sally...

In simple words, medical expenditures and attorney fees arising from physical injuries and property damage for which your organization may be legally accountable can be covered by general liability insurance.

General liability insurance often covers you and your business for physical injury and property damage claims arising from your products, services, or activities. It could also protect you if you're judged accountable for your landlord's property damage.

General liability insurance doesn’t cover employee injuries, auto accidents, punitive damages (in most states), workmanship, intentional acts, or professional mistakes.

Evan W. Walker is a solo plaintiff attorney at The Law Office of Evan W. Walker. According to Evan...

General liability is insurance designed to protect a business against liability and is usually part of commercial insurance policies. It provides defense and indemnity to a business. If a claim or lawsuit is brought against a business for its alleged negligence, then the insurance company hires insurance defense attorneys to defend (the defense) the company pre-litigation and throughout litigation up to trial, and to pay for any settlement or judgment (the indemnity) on behalf of a business. 

Of course, there are conditions, exclusions, and qualifications that apply. A business should understand general liability insurance before a claim is made against it.

John Espenschied is the Owner of Insurance Brokers Group. According to John...

General liability insurance is an insurance package that protects against claims of bodily injury or property damage to others. It's a vital part of business protection. What if you or your company caused an injury to another person (or damaged their property) that is considered negligence? They will then have a claim against you for any damages awarded, plus the lawyer's fees and costs of the suit. 

General liability covers personal injuries arising out because it's assumed there was fault on our part in causing them-this includes bodily harm as well- which can get expensive when considering how high some winning court cases are!

This protects organizations by providing its insured party with financial relief should they need to defend themselves against lawsuits filed due to accidents or unexpected incidents which occur on their premises. It typically covers three different types of claims: bodily injury, personal injuries, and property damage. 

It will specify the time period for this coverage at the beginning (usually one year), and it will provide protection while your business operates both within your premises and away from the business location.

Imani Francies is an Insurance Expert with USInsuranceAgents.com. According to Imani...

General liability insurance often covers you and your business for physical injury and property damage claims arising from your products, services, or activities. It could also protect you if you're found accountable for your landlord's property destruction. It can assist in covering the costs of a customer's or client's medical bills if they slip and fall on your property and legal fees for defending your company in a lawsuit. 

However, while your commercial general liability (CGL) coverage may cover bodily harm or property damage to others as a result of your product or service, it expressly excludes damage to your own work, property, or product.

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Assured Standard will protect your business with the right insurance, depending on your needs. Now more than ever, it’s crucial to have the right general liability insurance experts on your side. Protecting the future of your business starts today.
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