General Liability Insurance
The primary means to protect the assets of your business is to carry adequate commercial general liability insurance. This coverage protects your business should it be found responsible for bodily injury (hurting someone) or property damage (hurting something). This is a foundational coverage and is typically the first liability insurance clients purchase.
What Does General Liability Insurance Cover?
Standard general liability insurance policies provide coverage for claims of:
- bodily injury or other physical injury,
- personal injury (libel or slander),
- advertising injury, and
- property damage as a result of your products, premises, or operations.
General liability insurance can also be included in a commercial package policy with other coverages such as property, crime, automobile, and more. It covers the cost to defend and settle claims. A standard commercial general liability policy covers:
- Premises and operations liability: Coverage for bodily injury and property damage sustained by others on your premises or in conjunction with your business operations. If any employees work off-premises, this insurance can cover their work as well.
- Products liability: Coverage for bodily injury and property damage sustained by others as a result of your products. For example, a food processor finds protection here for illness caused by their food, and a manufacturer is protected from suits related to bodily injury resulting from their product.
- Personal and advertising injury: Protects against offenses made by you or your staff during the course of business such as libel, slander, disparagement, or copyright infringement in advertisements.
- Defense costs: Coverage for legal expenses for liability claims brought against your business, regardless of who is at fault.
- Medical expenses: Coverage for medical expenses if someone is injured on your premises or by your products. This is no-fault coverage, meaning it is available no matter who is at fault. At times termed “slip and fall coverage”, it is much broader than that. However, due to its no-fault nature, it is provided at sublimit such as $2,000 or $5,000, beyond which legal liability needs to be established.
How Much Coverage Does Your Business Need?
The amount of coverage your business needs depends upon:
- Perceived risk: Consider the amount of risk the public associates with your business operations. Public opinion influences perceived liability.
- Premises and operations liability: Consider the risks posed to others by your premises and business operations, whether those operations are local or remote. Include the legal climate of the state in your considerations as some states reward higher damages than others.
- Type of product manufactured or service rendered: Providers of products or services that have greater potential to injure someone or damage something should insure appropriately.
Consider a commercial umbrella liability policy to increase coverage to the desired limit of liability.
Other Ways to Protect Your Business
- Contact Us for a complimentary risk analysis plus safety and compliance information.
- Establish a high standard for quality control, whether a service or product.
- Keep records up to date and accurate.
- Thoroughly train employees.
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Why Bankers Insurance?
Anyone can be an order-taker. Bankers Insurance is different.
We don’t expect clients to be general liability insurance experts. Take advantage of our experience. We can explain options and help you determine coverage that suits your needs.
As your insurance agent, we strive to know you. Only then can we suggest coverage that fits your specific business. We look for coverage gaps and offer protection. With us, you get the benefit of:
Individual Agent
Each of our clients is assigned a specific insurance agent in our office and provided a phone number that rings on their desk. And each agent has a backup in case they are out for any reason. Though any one of our agents can help, nothing beats speaking with the person familiar with your account.
Local Support
Bankers Insurance is local. Our agents live in the neighborhood. No one enjoys talking to a call center or exchanging email when in urgent need of service or if a claim arises.
Fast, Courteous Service
We serve our clients with dignity and respect.
Flexible Billing
Want to pay for your general liability insurance directly to the company? Monthly? By credit card? We can find a billing option that suits you.
Competitive Prices
Product and service are important, but with Bankers Insurance you also get low pricing. Our insurance companies compete for your business, resulting in low prices for you.
Quality Insurance Products
We primarily represent “A” rated insurance carriers, verified by AM Best. Our general liability insurance products are designed to meet a variety of needs. We tailor insurance coverages to your business.
