Cheap Commercial Liability Insurance Usa – General liability insurance helps protect your small business against claims for bodily injury or property damage to others. Without general liability coverage, you may have to pay out of pocket for these claims. General liability insurance (GLI) is called various things such as business liability insurance, commercial general liability insurance, or comprehensive general liability (CGL).
Remember that general liability insurance costs are different for everyone because every business is unique. Factors that can determine these prices include:
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Did you know that four out of 10 small business owners will have a property or general liability claim in the next 10 years?
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Claims range from unexpected events such as burglary to unexpected accidents such as a customer being injured after a slip.
It’s a question we hear a lot: “Does my small business need general liability insurance?” Chances are, the answer is yes. With general liability insurance, you will be protected against the following claims:
If a customer is injured at your place of business, this policy can help pay their medical bills.
Employees sometimes damage customer property while delivering products or services. Your GL policy can help you with compensation.
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General liability insurance can help cover criminal prosecution, defamation, slander, wrongful eviction, and invasion of privacy.
If your rental property is damaged by fire, lightning or explosion, your general liability policy can help you pay for repairs.
Liability insurance helps protect you from costly general liability claims that can arise in normal business situations, such as:
You may also need this coverage if your client requires it. Many clients want to confirm that you have general liability coverage before signing a contract with your company. You can prove your general liability insurance with a certificate of liability insurance.
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General liability insurance does not cover all types of insured events. Depending on your small business, you may need different types of coverage to further protect your business. General liability insurance does not cover business vehicle accidents, injury or illness to employees, damage to your business property, professional mistakes or errors, willful misconduct or illegal acts, or any claims that exceed your liability limits. It also doesn’t cover data breach claims or lost income if your business can’t open due to damage to covered property.
State laws generally do not require business owners to carry general liability insurance. But it is still good to have liability insurance. If a customer sues your business and you don’t have coverage, it can put your business finances and your personal assets at risk.
It is important to understand the general liability insurance laws in your state. Work with a local insurance agency or our dedicated small business insurance team to help you choose the right liability insurance.
Although state law does not require LLCs to have liability insurance, it’s a good idea to have coverage for your business against everyday risks. Additionally, you may have to pay out-of-pocket for claims against your business, which can be expensive. Talk to an insurance agent or get an online quote today to find out how we can help protect your LLC.
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When you’re ready to get a general liability quote, you’ll want the right information. It includes:
Not all insurance companies are the same. It’s important to work with someone you can trust. We have over 200 years of experience helping small business owners protect their companies with coverage like general liability insurance.
Whether you’re looking for a quote, trying to understand the general liability class code, or need help filing a claim, we’ve got you covered.
To learn more, create a free quote or purchase general liability insurance online. We can also help you obtain other essential business coverage such as commercial property insurance and commercial auto insurance.
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“I was very pleased with the quote and general liability policy I received for my small business. I would recommend Hartford without reservation.
“I have had company general liability insurance through Hartford for many years. It’s a good product at a reasonable price and customer service is always responsive to any requests or questions.”
“Excellent response time. Less than 2 hours after filling out the online form to request a quote for the company’s general liability insurance, I received a call from someone in Hartford to set it up.”
“I have been using Hartford since 2011. I use it for my homeowners insurance and liability insurance. I look forward to the next time I need their insurance for another reason!”
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1 Premium amount shown is based on monthly premiums paid by Small Business customers of The Hartford between 1/1/21 and 12/31/21 for 12-month policies. The premium is derived from many factors related to your business and can vary.
2 The Hartford, “The Hartford Report: More than 40 percent of small businesses will experience entitlements in the next 10 years”
Hartford shall not be liable for any damages arising from the use of any information provided on this site. Please contact your insurance agent/broker or insurance company to determine your specific coverage needs as this information is intended to be educational in nature.
The information contained on this site should not be construed as specific legal, human resources, financial or insurance advice and coverage is not guaranteed. In the event of a loss or claim, coverage decisions will be subject to the policy language and payment of any potential claim will be determined after the claim is investigated.
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Some coverage varies by state and may not be available to all businesses. All Hartford coverage and services described on this site are The Hartford Financial Services Group, Inc. Property and casualty insurance may be offered by one or more of the company’s subsidiaries. Listed in Legal Notices.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the Hartford brand and is headquartered in Hartford, CT. See Hartford’s Legal Notice for more details. It can cost as little as $11 a month or $128 a year for some businesses, but the exact price you pay depends on your business location and operations.
Your general liability insurance policy can help cover costs if you experience damage to property you don’t own (known as personal injury) or an injury to a non-employee.
If you own a retail business or work in professional services, your business insurance may cost less than a construction contractor. Because higher-risk occupations can have higher claims for injury and property damage.
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Contractors work with other people’s property, build structures, and use expensive equipment. They face greater risk in day-to-day business than many other businesses.
If you own a hair salon and employ seven people, insurance may cost you more than a self-employed hairdresser.
A small business owner in New York may pay more for insurance than a business owner in Wyoming.
This is partly due to different regulations in different states and partly because insurance costs are sometimes higher in densely populated areas that receive more property claims.
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For example, if you run a lawn care business and have had previous property damage insurance claims, you may see an increase in premiums at renewal time.
If you want more financial protection, you can opt for a higher coverage limit. Higher limits almost always increase the amount you pay for insurance, but you may pay less out of pocket in the event of a claim.
For example, if you are an electrician with 25 years of experience and no claims, you can expect to pay less than an electrician who has been in the business for two years and claims.
Tip: It’s important to provide as accurate information about your business as possible when you receive a business insurance quote to ensure you get the right coverage and avoid delays in claims processing.
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The insurance company will calculate your premium based on all of the above factors, such as how likely you are to make a claim and how many employees you have.
With NEXT, getting cheap business insurance is easy – it’s reliable too. We tailor your coverage to meet your business needs and operations. After you answer a few questions using our quick online quote process, we’ll share pricing options for your business.
You can get full coverage in minutes and licensed advisors are ready to help if you need it.
So what is the average cost of general liability insurance? Here are the average monthly premiums for general liability insurance for various businesses:
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Common liability policies have per claim limits (also known as “per occurrence limits”) and aggregate limits (the maximum amount of coverage during the policy period, usually one year).
For example, let’s say you have a general liability policy with no deductible with a $500,000 limit. You have a one-time claim for damage to a client’s home that will cost $600,000 to settle. This means you will have to pay $100,000 out of pocket.
If you want more protection against losses and incidents, you need higher coverage limits on your policy, which means you will pay more for this policy.
The right amount of coverage for you
