General Liability Insurance
General Liability Insurance in New Jersey
Being able to run a successful business not only involves good business practices and plenty of sales, but also plans for the future that will include preparations for the unexpected. A lot of things can happen, accidents and mishaps, which would destroy a perfectly running business that's not been insured, leaving its owner and his personal assets at risk. We at D'Agostino Agency Insurance in New Jersey know the importance of preparedness and that is why we provide insurance products that are tailored to offer the kind of coverage that a business needs.
General liability insurance is among the most important coverages for a business and is set to protect you from many kinds of claims. For any business owner to remain focused on growing the business without worrying about any contingencies that may destroy it, make sure that you are properly covered with a general liability cover.
What is General Liability Insurance ?
The general business liability coverage, also known as GL insurance, protects and covers you from a number of claims including personal injury, bodily harm and property damage that could easily turn into large claims. GL coverage is normally combined with business property coverage in a Business Owner's Policy (BOP), but it can still be a policy on its own with regards to the needs of a particular business.
A general liability cover provides protection against huge financial loss for your business if it is sued and found legally liable. Depending on the options you choose, your GL policy can cover attorney fees and awarded settlements when you are sued for:
- Property damage
- Personal injury
- Bodily injury
- Medical expenses
- Casualty coverage
- Premises liability
- Fire liability
- Products and completed operations
Do I Need General Liability Insurance in New Jersey
The GL cover is among the very important types of business coverages in New Jersey in whichever industry or line of business, and therefore every business needs it. It offers a protection from potentially huge third party claims against your business that could lead to its demise. In any case, what would appear as a frivolous lawsuit could eventually end up with tens or even hundreds of thousands of dollars in court and attorney fees.
To be on the safe side, consider the General Liability insurance if you or your employees do one of the following:
- Visits the workplace or home of a client during the course of your business operations.
- Possesses the access to clients' properties either for work or storage.
- Speaks or writes about a client's business.
- Uses third party locations to carry out your business activities.
- Becomes obligated to have a GL cover as a condition for a contract with a client.
Specialized Forms of GL Coverage in New Jersey
These depend on your industry and include:
- Foreign Liability
- Liquor Liability
- Employee Practices Insurance
Even with the best business practices, your business is always at the risk of accidents, incidents and the lawsuits that can plunge it into serious financial crisis. Considering that average liability cover annual premiums are just between $750 and $2,000, this will be a drop in the ocean with regards to the thousands or millions of dollars that would emerge as costs of lawsuits and settlements.
To prevent any undesirable eventuality for your business, call D'Agostino Agency Insurance today for a competitive free quote for a general liability policy, customized just for your New Jersey business.
