TYPES OF GENERAL LIABILITY INSURANCE
General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business. This type of insurance protects businesses against liability claims for bodily injury and property damage arising out of premises, operations, products, and competed operations. Ptarmigan recommends that all businesses have general liability insurance coverage in place. There are a few different coverage options, depending on the type of business operations.
- Professional Liability Insurance (Errors & Omissions)
Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies.
- Employment Practices Liability Insurance (EPLI)
Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights.
- Directors and Officers Insurance (D&O)
D&O insurance covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.
GENERAL LIABILITY INSURANCE COST
The cost of commercial liability insurance depends on multiple factors, such as your business type, your location, the level of risk your company is exposed to, and the number of employees you have. Everyone’s coverage needs will be different, so contact us today to get an accurate estimate.
A single accident could result in a lawsuit that you might not be able to handle. With commercial liability coverage from Ptarmigan Insurance, you can be at peace knowing not only you, but your business as well, are in safe hands.
Give Ptarmigan a call today with any questions you may have or fill out the form to get your commercial liability insurance quote.