General Liability Insurance

What Is General Liability Insurance Coverage?

Unfortunately, the chances of your company getting sued have increased dramatically in the last decade, and the costs of tort litigation are especially burdensome to small businesses. According to the U.S. Chamber Institute for Legal Reform, "The tort liability price tag for small businesses in America in 2008 was $105.4 billion."

If your business is ever sued or held legally responsible for some kind of damage or medical injury, then having general liability insurance can prevent the lawsuit from turning into a financial disaster. This type of insurance pays losses arising from damage to others' property, real or alleged bodily injury, and personal injury that occurred on your property or as a result of your business operations.

What Does General Liability Insurance Cover?

While several carriers offer general liability insurance in NY, we often recommend one company in particular because their liability products cover much more than the typical policies offered by other insurers. Their broad range of general liability protection includes:

In addition to the above, Specialty General Liability coverage is available for certain types of businesses.

How Much Does General Liability Insurance Cost?

The cost of Commercial General Liability insurance varies mainly according to the nature of the business in question. A construction company, for example, is more likely to damage someone's property than an accounting firm. Policy limits also affect the premiums, but on average, most small business owners can get CGL insurance for less than $60 per month.

General Liability Insurance Quote

Speaking with an independent insurance broker such as the New York City Business Group is the best way to obtain an accurate quote for general liability insurance for a small business in Manhattan, Brooklyn, Queens, Staten Island, or the Bronx. We work for you, not the insurance companies, so it's mutually beneficial to allow us to do the legwork for you. We'll shop around for the policies that offer the greatest value for your money.

Incidentally, if you already have general liability coverage, we'd be happy to give you a complimentary policy review to ensure that you're not being overcharged for the coverages included in your existing policy. 

Give us a call at 718-554-3425 for a free quote or policy review.

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