General Liability Insurance

Introduction to General Liability Insurance

General Liability Insurance is a type of commercial insurance which aims to cover financial losses arising from any physical injury or damage of property which is caused by the insurer or the employees of his company to others. Such insurance covers apply when the accidents take place at the premises of the insurer or at the customer’s location. Insurance claims are not provided for the errors that may occur at the time of delivery of any professional service to the customers.

General Liability Insurance is also provided in cases of theft or any damage to the computers’ hardware or software of the concerned company. Coverage is also provided in case of destruction of other properties like and the office furnitures. Certainly there is limit imposed on the coverage that is provided.

Extent of General Liability Insurance Coverage

Experts opine that General Liability Insurance to the extent of two to three million dollars. The price that the concerned person or company applying for the General Liability Insurance has to pay is a function of the size of business and the risks that are tagged with it.

In the following section we may list the types of insurance that are provided by the General Liability Insurance Companies

The General Liability Insurance Covers

Personal and Advertising Injury: Such General Liability Insurance coverage is provided in case of any offensive activity done by the insurer or his employees. Offenses can be slander, libel, dispraise or violation of copyright laws.

Employment Practices Liability: This type of General Liability Insurance covers defense costs when the insurer or the employees are caught up in law suits.

Medical Expenses: If anyone is injured on the premises of the insurer then such medical expenses are borne by the general insurance company on behalf of the insurer.

Tenants’ liability: If there is damage caused due to fire or other covered reasons in the premises rented by the insurer, then insurance coverage is provided for such losses by the General Liability Insurance companies. In this way the business of the insurer is shielded against financial claims arising out of such loss.

For more information on General Liability Insurance one may view rotary.org, allbusiness.com etc.