Who Needs General Liability Insurance? A Guide for Small Business Owners

For many small business owners, general liability insurance is critical to managing risk and staying in operation.

Does My Small Business Need General Liability Insurance?

Any business that interacts with clients, customers or vendors in person may benefit from general liability insurance. Retail stores, contractors, consultants, restaurants and service providers may all face accidents on their property or during business operations.

General liability coverage is often required when signing commercial leases or contracts. Without it, your business may be unable to take on new contracts or work with larger companies requiring proof of coverage.

What Does General Liability Insurance Cover?

General liability insurance policies may cover the following situations, up to your policy limit:

• Bodily injury that occurs on your business premises or due to your services

• Property damage caused by your employees or resulting from your business operations

• Personal injury claims, such as defamation, libel and slander

• Copyright infringement

• Legal defense costs and court fees

How Much Is General Liability Insurance?

Various factors impact rates of general liability insurance. Most insurers consider the following to calculate your premium:

• Industry type

• Revenue

• Number of employees

• Coverage limits

• Claims history

General Liability Insurance Near You

Contact Kiero Insurance & Multiservices, LLC today for more information on general liability insurance. Our team can discuss your options and help you choose the appropriate coverage.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.