What is General Liability Insurance? | IGM Brokerage Corp.
General Liability Insurance: General liability insurance is a type of commercial insurance that protects your company from lawsuits brought by people who have been injured or whose property has been damaged. An injury caused by your goods, libel, slander, and defamation claims, as well as claims made by your workers or other third parties, may also be covered.
Manhattan Liability insurance covers a variety of injuries, property damage, and other potential occurrences at your company. Examples comprise:
Injuries you create in others as a result of an accident
Destruction of another person's property
Contractual responsibility
Insurance for your goods
Publicity and personal injury protection
Pollution
Payments for urgent medical care
Electronic information and cyber risk
Claims that your workers have brought against you
General liability insurance isn’t legally required, so you don’t technically need it.
Every firm should carry commercial liability insurance, and the majority of businesses do, regardless of whether you are a corporation, LLC, partnership, non-profit, or sole proprietor operating under your own name.
The limits, deductibles, and optional coverage you choose will determine the cost of your insurance premiums, which are usually determined by the type of business you have, the industry it is in, the location, the annual sales, the payroll, the square footage of the premises, and even the average number of visitors or attendees at the business.
You can give them a certificate of insurance as proof that you are covered (COI). This one-page paper lists the insurance coverage you have.
IGM Brokerage Corp. offers general liability insurance for businesses located in the Bronx and the rest of the tri-state area. General liability insurance is important to have because it protects your business in the event that you are sued. You can purchase a stand-alone general liability policy or it can be part of a package that includes Property Insurance.
