Business liability insurance provides cover in case a claim is made against your business for injury, death or loss of property of a third party. This can be due to negligence on part of your business when a visitor or customer is at your premises or because of a faulty product or service. The plan provides coverage for the settlement amount and the legal fees that you incur while contesting the claim.
Types of Business Liability Insurance
Most business owners are confused about the type of business liability insurance coverage they need for their business. While you may find various insurance plans online or with different insurance companies, it is vital to get the right coverage. There is no “one-shoe-fits-all” as far as insurance is concerned. For example, a warehouse or shopping mall may need a different type of coverage from a factory or a restaurant with a glass front.
These are the various liability insurances we can help you with:
General Liability Insurance (GLI): For most businesses, GLI is a popular business liability insurance plan as it covers various claims a business can face in the course of its operations. This includes bodily injury, death, property damage caused to a customer or third party, libel and slander. For a complete list of inclusions in GLI and to get a tailor-made insurance package, speak to our insurance broker.