Want to protect against overall business risk? Consider looking into general liability insurance. We know there are a lot of choices out there, so we’ve narrowed the field for you to create a list of good prospective insurers for your individual business needs.
Quick Look - Best General Liability Insurance Coverage
Best General Liability Insurance Companies
Read our reviews for the best general liability insurance providers to learn more about where to get the best commercial coverage.
1. The Hartford
The Hartford services industries including the legal profession, consultants and other professionals, accountants and tax preparers, home inspectors, technology professionals, real estate professionals and others.
2. Simply Business
Simply Business offers a comprehensive suite of business insurance that specializes in making it easy to insure your business. Whether you’re looking for standard business insurance or specialty liability coverage, Simply Business helps you find the right coverage at the right price.
Tell Simply Business a little bit about your business and you'll get almost-instantaneous affordable quotes from top insurance providers. You can look into liability coverage that will help everyone on your team, and you can get covered in accordance with state requirements, the needs of your business or the recommendation of your licensing board without overspending.
Building your business is hard enough. Let Simply Business make it easier. Get a quote from Simply Business today.
3. Liberty Mutual
Liberty Mutual offers full general liability insurance protection for businesses of all stripes, whether you are a small firm or a major multinational corporation. Not only do you get coverage for lawsuits including bodily injury, property damage, personal injury and advertising injury, but you get access to the Data Insure cyber-liability suite of products from Liberty international underwriters. This coverage helps protect you against hacking, data breaches and privacy violations.
Thimble provides flexible small business insurance. You can buy liability insurance policies by the month, the day or even by the hour. Even better, you can apply in under 60 seconds. Choose from general liability, professional liability or drone insurance. Thimble got its start as Verifly Drone Insurance, and you can still purchase drone insurance through the Verifly app.
Thimble is also rolling out event insurance. This is a type of liability coverage for those who are organizing a special event or participating in one as a vendor or exhibitor. It includes coverage for bodily injury and property damage to a 3rd party and coverage for legal fees and damages related to alcohol consumption for BYOB or open bar events. If you’re selling alcohol, you can add retail liquor to your policy.
We believe that Next's simple, straightforward approach is helpful to those who are trying to figure out what needs coverage and how best to handle it. The website is easy to navigate and to understand, and you can find your answers in minutes regardless of the question.
Next insures a wide variety of professions, including architecture and engineering, beauty, commercial maintenance, consulting, fitness, health, home services, marketing, property and therapy. Even if your own profession does not fall under one of these categories, Next can still help you get the coverage you need when you need it.
What is General Liability Insurance?
General liability is a type of coverage for businesses that offers protection against claims for which you and your company could otherwise be found directly liable for. This type of insurance usually offers protection against things like bodily injuries or property damage that occur while on your business property or as a result of your product.
What Does General Liability Insurance Cover?
Regardless of your type of business, you likely have a need for general liability insurance. This covers property damage as well as bodily injury and is also referred to as business liability insurance.
Specifically, these policies offer coverage for the following expenses associated with risk:
- Medical expenses
- Legal fees
- Your expenses should you be held liable for damages to your employer’s property
- Advertising injury
- Damage to your premises
General liability insurance does not cover:
- Car accidents
- Quality of workmanship
- Punitive damages (in most states)
- Employee injuries
- Professional errors
- Intentional damage
How Much is General Liability Insurance?
According to the U.S. Chamber of Commerce, general liability insurance averages less than $800 annually in most cases, with less than 15% of small businesses paying in excess of $1,000 annually.
Discounts are available with multiple policies and other individual factors. Don’t be afraid to ask what discounts and bundling are available for your business.
Who Needs General Liability Insurance?
You may be wondering if you need general liability insurance. In a nutshell, it is crucial for contractors and small-business owners to protect themselves and their assets by obtaining coverage. Keep in mind that it only takes one incident to bring about a lawsuit that could irrevocably damage what’s taken you so long to build.
Regardless of your type of business, you likely have a need for this type of coverage. Also, you may find that clients or managers might want you to carry a given amount of coverage as a condition of employment.
How to Compare General Liability Insurance
When you’re buying this type of insurance, make sure you understand the difference between the 2 types of policies: claims-made and occurrence. The former covers a specific period of time, including claims made during that period even if the inciting event didn’t take place then. Occurrence is more strict and does not cover claim events that took place prior to the policy being in force.
You may also choose to supplement your general policy with other coverage. One type addresses financial-reporting mistakes and omission plus protection against damages made by company officials. Another is employment practices liability coverage, which addresses claims of wrongful termination, discrimination and sexual harassment.
How Can I Get the Best General Liability Insurance Available?
We’ve pulled together the best providers in the industry for your consideration. Before you do that, though, make sure that you have the right documentation in hand, including all pertinent business information. We’ll help you take care of the rest.
Frequently Asked Questions
What types of claims are covered by general liability coverage?
Usually, general liability insurance provides protection from bodily injury, personal or advertising injury and property damage claims.
What is the difference between standard general liability and commercial general liability?
Where general liability insurance protects you against claims brought against your business for causing bodily, personal or advertising and property harm, commercial general liability provides coverage for the physical property and equipment associated with your business.
Does my business need general liability insurance?
If you want to protect your business from claims, it is a good idea to have a general liability insurance policy.