When it comes to general liability insurance, there is a lot of things that go in our mind. What is the cost, what does it cover and many more? The hassle of jumping from tabs to tabs to find one simple solution to your answer can be a challenge especially when you have no idea about it but that’s why we are here to help you out in the best way possible. Welcome to the ultimate guide which will answer all your queries about general liability insurance for contractors.
What is general liability insurance?
The aim of general liability insurance is to safeguard your company from damages, false claims which have the potential to hamper the brand value of your business.
What does the general liability insurance cost?
It solely depends on your location, what are the services required, payrolls, what is the sales percentage, the experience in this industry, the number of employee, and the risks. If you’re a small scale company wanting to take general liability insurance, the range of the cost will be around $27 – $59 per month.
What a general liability insurance covers?
- Property damage and injury: It shields you against false claims. These can be financial claims or business claims.
- False advertising: It safeguards you from claims where you have been accused of using copyright content. It may be for your products or services to sell them.
- Securing reputation: There are times when the company can get claims for false news, slander, wrong eviction, privacy violation. In that case, it will safeguard your reputation and keeps it as it is.
- Safeguards the rented area: There are times when the rented area catches fire or explosion. In that case, general liability insurance for contractors will secure your company from these claims.
- Protects against medical claims: This insurance will save you against medical claims in many ways. For example, if a person gets wounded in your company premises and needs treatment.
General liability insurance can be extremely helpful for you if you are from a small scale business. It provides a shield against your company from false claims that have the potential to ruin your company’s reputation.