Boise Idaho Commercial General Liability Insurance

Intro:

What is Commercial General Liability Insurance? Is a type of insurance that protects a business against the risk of accidents and helps prevent major financial losses if your business is sued or held legally responsible in the event of bodily injury or property damage. This type of insurance is not required by law but it is state-mandated to carry it for certain construction.

General liability insurance is the most essential insurance for a business, especially if you rent or own an office or commercial space. If you don’t have it and something happens while you’re on the job, one big claim could cost enough to put you out of business. 

Key Points:

Determining the importance of this coverage, even if these don’t apply to you, small businesses that work directly with clients and customers usually benefit from this insurance. This insurance policy can keep your company financially stable in times of accidents or if you’re sued by a customer or competitor.

What does it cover?

This insurance provides coverage from:

• Bodily Injury: a coverage protects against claims of physical injury to a third-party.
• Premises Liability: covers the damages to another entity’s property. Like, if you’re renting to a commercial space and you damage its property, general liability insurance can help you cover the damage.
• Medical Insurance Expenses: if customers’ injury requires medication or hospital visit and they want you to shoulder the bill, your insurance will work on it.
• Defense Costs: this insurance covers your legal costs such as judgments and settlements if someone sued you for bodily injuries.
• Personal and Advertising Injury: a claim that you publicized something damaging the reputation of another party.

What does not cover?

General liability insurance usually not cover the following:

• Damage to your property: this policy is designed to protect from a third-party lawsuit, which means it only covers damages from your property by an outsider, like customers.
• Intentional damage: damage that does it on purpose doesn’t cover your insurance. Normally, the damage to someone else’s property like your customers/clients that you or your employees’ fault would be covered under this policy, but in this case, it’s different, because intentional damage is an exception and never going to be covered by any form of an insurance policy.
• Employees’ Injury: this policy may not cover accidents resulting in injuries to your employees, only accidental third-party injuries because workers’ compensation insurance can cover your employees’ injuries.
• Vehicles: like employees’ injuries, company-owned vehicles usually not covered with this insurance, commercial auto insurance can cover your business vehicles.
• Professional Errors: it is important to remember that professional mistakes do not cover this policy, this means that faulty workmanship or poor advice given to your clients typically cannot help you and your business. Professional liability insurance can help you out with professional mistakes.

How does it work?

Whether you’re a small business, contractors, or landlords your business needs to be fully protected in the event of accidents. Essentially, this insurance policy makes it possible for your business to survive accidents or lawsuits that may occur throughout doing your work. If you’re a contractor and you accidentally damage your clients’ property, a general liability insurance policy can help you cover the cost of repairing the property damage. The only out-of-pocket expense you have to pay is the policy deductibles. Also, this insurance helps you provide a legal fee in case your customer decided to sue you for additional charges. Without this protection, your business may face huge financial losses, since every expense will right come out of your pocket.

Why is Commercial General Liability coverage important?

Commercial general liability insurance is critical for businesses that work with the public and work closely with the customers. It gives you the peace of mind you need to focus on your business, plus, it can make you gain more customers or clients because you are capable to handle things when a bad thing happens because your business is insured. Accidents happen everywhere and at any time of the day, even when you try to do everything right. General liability insurance means that if the worst happens, you, your family, and even your business won’t be held financially responsible for any resulting lawsuits, medical expenses, and damage to someone else’s property.

Companies that offer Commercial General Liability Insurance:

1. Allstate
2. Coverwallet
3. Progressive Commercial
4. The Hartford
5. Coverhound
6. Next Insurance
7. Insureon
8. Founder Shield
9. Hartford
10. Auto Owners
11. Nationwide

Conclusion:

With general liability insurance, you’ll have the protection you need to stay focused and ensure that your business is financially protected in times of an accident. No one can avoid accidents but you can prevent too many expenses by carrying insurance with you.