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:
- Bodily injury and property damage liability
- Personal and advertising injury
- Medical payments
- Products completed operations
- Damage to premises rented to you
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.
General Liability is not require by federal law, 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.