{"id":49,"date":"2018-06-14T07:46:29","date_gmt":"2018-06-14T13:46:29","guid":{"rendered":"https:\/\/www.philkleininsurance.com\/blog\/?p=49"},"modified":"2018-06-14T07:46:29","modified_gmt":"2018-06-14T13:46:29","slug":"the-ins-and-outs-of-general-liability-coverage-whats-covered-and-whats-not","status":"publish","type":"post","link":"https:\/\/www.philkleininsurance.com\/blog\/the-ins-and-outs-of-general-liability-coverage-whats-covered-and-whats-not\/","title":{"rendered":"The Ins and Outs of General Liability Coverage: What’s Covered – And What’s Not"},"content":{"rendered":"

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As a small business owner, you have a lot on your plate. From accounting, to marketing and sales, to product development and inventory \u2014 the to-do list can seem never ending. That\u2019s why it\u2019s no surprise that details like liability insurance can so easily slip through the cracks, leaving your business financially vulnerable.<\/p>\n

Unfortunately, nearly anyone your business interacts with can make claims against you. And without the right insurance protection, these claims could cripple your operation.<\/p>\n

What General Liability Insurance Covers<\/strong><\/em><\/p>\n

General liability (GL) coverage can be part of a standalone policy or can be part of a business owner\u2019s policy (BOP). This coverage safeguards your business\u2019 finances and reputation in the event a customer or third party takes legal action against you or your employees.<\/p>\n

The following are types of claims covered by a GL policy:<\/p>\n

Bodily injury<\/em>: If a third party is injured at your place of business (or as a result of work performed away from your business), your GL policy would cover costs, including medical expenses, lost wages, and any court-awarded compensation or out-of-court settlements.<\/p>\n

Property<\/em>: If your business\u2019s actions result in damage to someone else\u2019s property, your GL policy will cover costs to repair the damage. This applies to real estate, equipment, and supplies, as well as compensation for loss of use during the time it takes for the damaged property to be repaired or replaced.<\/p>\n

Personal and advertising injury<\/em>: If your business causes nonphysical damage to a third party through advertising tactics or other activities, your GL policy will cover these damages. However, coverage does not apply if your business intentionally makes a false statement knowing it will cause harm.<\/p>\n

Additionally, if a lawsuit is filed against your business for a covered loss, your GL policy will also cover the legal costs to defend you in addition to your policy limits, including attorney fees and court costs.<\/p>\n

GL coverage safeguards your business\u2019s finances and reputation in the event a customer or third party takes legal action against you or your employees.<\/p>\n

What General Liability Insurance Doesn\u2019t Cover<\/strong><\/em><\/p>\n

GL coverage does have limits \u2014 both in dollar amounts and types of situations covered. This depends on a number of factors, including your specific industry and your business\u2019s exposure to visitors and clients.<\/p>\n

However, there are a few limits that apply to businesses across the board. GL does not cover the following types of damages:<\/p>\n

Workplace injuries<\/em>: GL normally doesn\u2019t cover workplace injuries to employees. Instead, you\u2019ll need workers compensation coverage, which is legally required by most states.<\/p>\n

Damage to your own property<\/em>: GL covers damages to other parties\u2019 property, but it doesn\u2019t cover your business\u2019s property. Instead, you\u2019ll need a business owner\u2019s, inland marine, or commercial property policy.
\nIntentional damage<\/em>: Damage done purposefully or maliciously is not covered under a GL policy.<\/p>\n

Damage to client property in your care<\/em>: GL does not cover damage to a customer\u2019s property while it is in your care. Inland marine and other property coverages can provide this type of protection.<\/p>\n

Professional mistakes<\/em>: Mistakes resulting in a loss aren\u2019t covered by GL. For instance, if your business misprints 10,000 books, general liability coverage won\u2019t reimburse you for the cost of reprints. However, many insurers offer separate policies for businesses that require professional liability protection.<\/p>\n

Damage to vehicles<\/em>: This protection requires a commercial auto policy.<\/p>\n

While general liability insurance won\u2019t cover every incident and expense your business might face, it can protect your business from claims brought against you by third parties \u2014 and it\u2019s a relatively inexpensive way to create peace of mind.<\/p>\n

Contact us today at (248) 682-7445 or info@philkleininsurance.com<\/a> for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"

As a small business owner, you have a lot on your plate. From accounting, to marketing and sales, to product development and inventory \u2014 the to-do list can seem never ending. That\u2019s why it\u2019s no surprise that details like liability insurance can so easily slip through the cracks, leaving your business financially vulnerable. Unfortunately, nearly […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,18,17,1],"tags":[20,23,21,8,19,24,22,5],"class_list":["post-49","post","type-post","status-publish","format-standard","hentry","category-business-insurance","category-commercial-insurance","category-general-liability-insurance","category-insurance","tag-business-insurance","tag-detroit","tag-general-liability","tag-insurance","tag-liability","tag-liability-insurance","tag-michigan","tag-phil-klein-insurance-group"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/posts\/49","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/comments?post=49"}],"version-history":[{"count":2,"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/posts\/49\/revisions"}],"predecessor-version":[{"id":54,"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/posts\/49\/revisions\/54"}],"wp:attachment":[{"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/media?parent=49"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/categories?post=49"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.philkleininsurance.com\/blog\/wp-json\/wp\/v2\/tags?post=49"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}