A lot of businesses face common liability risks regardless of their industry, location or size. General liability insurance policies offer Massachusetts businesses protection against a number of these common perils.
General liability insurance is normally designed to safeguard businesses from covered third-party lawsuits. These are most often suits filed by customers, vendors or other companies.
Like most types of insurance, the exact protections that general liability coverage provides can vary. The majority of general liability policies, however, offer some form of the following:
Policies can offer additional protections as optional coverages, but these additional protections are less uniform across policies.
Some general liability policies offer product liability coverage, but there are others that don’t. Moreover, those policies that do provide product liability coverage frequently have low limits for the protection.
A few businesses may be able to get all of the product liability protection that they need through a general liability policy that includes this coverage. Many businesses that need this coverage, however, want higher limits than a general liability policy will afford. These businesses often end up purchasing a product liability-specific policy in addition to their general liability policy.
Since general liability policies are normally designed to insure against lawsuits filed by third parties, policies frequently don’t offer coverage for employees who are injured at work. Working employees typically aren’t considered third-party individuals.
Instead, work-related injuries suffered by employees tend to fall under the domain of workers compensation insurance. Businesses that have employees can purchase this insurance as a separate policy.
There are many Massachusetts businesses that can benefit from having general liability coverage. Because this coverage protects against a broad range of common risks, it’s something that small and large businesses can often use.
Professionals who run their own businesses are one of the many various businesses that should consider getting a general liability policy. This coverage is particularly important for professionals because professionals:
Insurance companies consider many factors when setting premiums for general liability policies. Some of the items insurers might consider include:
General liability coverage may be purchased through a single-coverage policy, a business owners policy or a commercial package policy. In order to find the best available policy at the most affordable rates, businesses must not only compare general liability policies but also have to weigh each of these three options.
For help finding the best available solution, businesses should talk with an independent Massachusetts insurance agent who’s familiar with general liability insurance and other commercial insurances. Such an agent is free to compare policies from different insurers, and they know how to compare individual policies, business owners policies and commercial package policies. With an agent’s expertise, businesses can quickly and easily find the solution that will give the most robust coverage at an affordable rate.