General Liability Insurance in Springdale, AR
Also known as business liability insurance, general liability insurance can provide essential financial protection for your business. Contact Variety Insurance Agency in Springdale, Arizona, to learn more about general liability coverage.
What Is General Liability Insurance?
General liability insurance is a business insurance policy that can help provide coverage if your business is accused of causing third-party bodily injury or property damage. It can also provide coverage for third-party personal or advertising injury claims. These claims are fairly common and can cause financial hardship if your business lacks adequate coverage.
What Does General Liability Insurance Cover?
A general liability insurance policy may help pay for common third-party claims stemming from your business products, services or operations. It may help cover legal fees and damages for which your business is responsible. Examples of common general liability coverages include the following:
- Property damage liability can help pay for repairs or replacements if your business is held liable for third-party property damage.
- Bodily injury liability coverage can help cover legal fees, settlements and judgments if your business is accused of causing bodily injuries to third parties.
- Medical payments coverage can help pay for medical bills if a third party experiences a bodily injury on your business’s premises or after being exposed to your business’s everyday operations, regardless of fault. This coverage generally doesn’t cover employee injuries.
- Personal and advertising injury liability can help cover legal expenses if your business is held liable for causing personal injuries, issuing false or misleading statements or using stolen advertising ideas.
Who Needs General Liability Insurance?
Nearly every business can benefit from general liability coverage, including home-based businesses. Although general liability insurance isn’t typically required by law, certain industries may be required to carry general liability coverage to meet licensing requirements. Specific clients and customers may also require it.
Even if general liability insurance isn’t required, it’s highly recommended for any business that works closely with clients or customers or has a public business space. Contact Variety Insurance Agency for further guidance.
How Much Does General Liability Insurance Cost?
Your insurer may consider several factors to help them determine the cost of your general liability insurance premiums, including the following:
- Claims history
- Number of employees
- Policy details (e.g., coverage amounts and deductibles)
- Building size
The agents at Variety Insurance Agency can help you evaluate your business insurance needs and help you get started with a tailored insurance quote. Contact us today to learn more about our general liability insurance policies.