How much does general liability insurance cost?

The cost of general liability insurance varies depending on the type of business and its location. Business size also affects the rates, with larger companies often paying higher premiums. On average, general liability insurance costs around $50 per month for $2 million in coverage. Rates may increase if you have a history of filing insurance claims or if you exceed policy limits.

Who needs general liability insurance?

It is in the best interest of every business owner to consider general liability insurance. This coverage protects businesses from paying out of pocket in case of lawsuits for bodily injury or property damage. If your business is open to the public, makes deliveries, hires temporary or part-time employees, creates advertising materials, or uses social media professionally, it is a good idea to compare general liability insurance quotes and find a policy that suits your needs.

Does general liability insurance cover accidents caused by my employees while driving their personal vehicles for business purposes?

No, general liability insurance typically does not cover accidents caused by employees while driving their personal vehicles for business purposes. In such cases, a separate hired and non-owned auto liability insurance policy may be necessary.

Are there any exclusions or limitations to general liability coverage for commercial vehicles?

Yes, there may be certain exclusions or limitations to general liability coverage for commercial vehicles. It’s important to review the specific policy terms and conditions to understand the scope of coverage provided.

Can I add additional insured parties to my general liability insurance policy for commercial vehicles?

Yes, it is often possible to add additional insured parties to your general liability insurance policy for commercial vehicles. This can provide coverage for other individuals or entities that may be involved in an accident with your business vehicles.

Does general liability insurance cover damage to my own commercial vehicles in case of an accident?

No, general liability insurance typically does not cover damage to your own commercial vehicles in case of an accident. This type of coverage is usually provided by commercial auto insurance policies.

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The general liability (GL) insurance meaning and how it applies to businesses shouldn’t be confused with liability auto insurance coverage. While both pay for damages and injuries caused to another party, the general liability insurance definition only applies to businesses and business owners. Though general liability differs from auto liability, it still provides liability protection…

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Tag: general liability

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Compare Quotes from Top Companies and Save

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