General liability business insurance covers common workplace accidents. It covers costs if someone gets injured on your premises (excluding employees) and your business is held responsible. This coverage extends to repairing or replacing property you accidentally damage.

It also covers you against claims of reputational harm, such as libel or slander, false advertising, and copyright infringement.

Many business owners choose this insurance for its wide range of protection. Known by various names like business liability insurance, commercial general liability (CGL), public liability, or simply liability insurance, we'll refer to it as general liability for clarity.

General liability insurance can shield you from unforeseen costs from numerous common accidents that could impact your business and result in legal action, including:

• Injuries to non-employees (bodily injury)
• Damage to someone else's property (property damage)
• Legal and court fees
• Medical expenses
• Harm from advertising practices
• Allegations of libel or slander (personal or reputational harm)

Discover more about the protections offered by general liability insurance.

General liability is a staple in many business insurance packages, providing coverage for common risks that business owners face daily.

Although not legally mandated, certain clients and agencies may require proof of insurance through a certificate before getting into business with you.

Here's how different business sectors benefit from the liability protection offered by a commercial general liability insurance policy:

Construction Trades

Artisan contractors and construction professionals often need general liability insurance for professional licensing or to qualify for specific projects because of the inherent risk of injury and property damage in their work.

Restaurants and Food Service

Food service businesses are concerned about slip-and-fall accidents. General liability policies can cover medical costs and legal expenses. Additional coverage like liquor liability or workers' compensation can also be included for comprehensive protection.

Retail and E-Commerce

Retailers benefit from general liability coverage for customer injuries, with NEXT policies also offering some product liability protection.

Fitness Professionals

General liability insurance may be a requirement for personal trainers to obtain certain professional certifications or to work in gyms.

Cleaning Businesses

Cleaning services are protected against financial losses if they accidentally damage property on the job.

Commercial property renters may also find that general liability coverage is a lease requirement.

General liability insurance expenses range significantly from one business to another, with rates starting as low as $15 per month for certain low-risk operations.

The cost of your insurance is affected by several factors, such as:

• The nature of your industry
• The specifics of your business activities
• The scale of your business
• Your business location
• Your specific business requirements and the extent of coverage you wish to acquire
• The limits of your policy

Get business insurance and your certificate of insurance by clicking here.

Here’s the procedure:

Your licensed agent will inquire about some fundamental aspects of your business and its operations, such as:

• Your industry
• Your business location
• The duration of your business ownership
• The number of employees
• Annual revenue
• Annual Payroll
• Previous insurance and claims history

Following these questions, you will receive a personalized insurance quote for general liability along with other suggested coverages.

You then have the option to modify the package limits and start coverage.

Your coverage starts immediately after payment. So you'll get instant access to your certificate of insurance.

Get your free quote today.

Commercial property insurance may cover theft of your business assets.

This includes coverage for goods, equipment, inventory, and even money. It usually offers protection if theft occurs on your premises.

If your work takes you to various locations, you might want to add mobile tools and equipment coverage. This protects your equipment on the go, in case your power tools are stolen from a job site.

Find out more about tools and equipment insurance.

Commercial property insurance is crucial for small business owners who depend on equipment, inventory, or furniture for their operations.

It offers financial support if you:

• Operate from a tangible location like a rented or owned office, store, garage, or even your home.
• Have equipment or inventory that's at risk of theft or damage.
• Need to shut down your business because of destruction or damage to your property.

A few of the most common types of businesses that get commercial property include:

• Retail (both online and physical stores)
• Restaurants
• Fitness centers
• Arts and Entertainment
• Beauty and personal care services

A Business Owner's Policy (BOP insurance) combines two critical types of business insurance —general liability and commercial property insurance — into a single package, which can be more cost-effective than purchasing each separately.

Advantages of BOP insurance include:

- Cost savings from bundling two policies together
- Coverage customized for small businesses
- Simplified management of your policy, with the ability to add additional insureds and distribute certificates online anytime

While commercial property insurance specifically covers your business's physical assets, such as goods, equipment, inventory, and buildings; a BOP extends to cover these plus general liability risks.

This means a BOP also covers damages to third-party property, customer or vendor injuries, and associated legal costs under its liability portion.

Opting for a BOP can be a smart financial choice if your business needs both general liability and commercial property insurance, allowing for potential savings.

Commercial property insurance is usually not required by law for businesses.

However, landlords often demand that tenants have this insurance as part of lease agreements, and lenders usually require it if you're financing property purchase through a loan.

The coverage amount you need for commercial property insurance depends on your specific business needs, as every business has unique factors, such as:

Property Replacement Cost Value: Understanding the property's estimated replacement cost is crucial for determining how much coverage you'll need. Your coverage limit should be enough to rebuild the building according to today's costs.

Location: The location of your business can influence insurance rates, with costs varying based on the area's risk profile.

Structure: The construction and condition of the building itself can impact insurance rates. Newly built or recently renovated structures might qualify for lower rates.

Protection: Implementing safety measures like fire-retardant materials, automatic fire sprinkler systems, and alarms can lead to lower insurance rates. Proximity to fire services like stations or hydrants are also beneficial.

Usage: The building's purpose and the daily presence of employees or customers can affect risk. The higher the risk, the higher potential insurance premiums. 

Commercial property insurance premiums are calculated based on the replacement cost or the actual cash value of the property.

Replacement cost covers the expense to replace or repair your property in case of damage or destruction.

Actual cash value compensates you with an amount equivalent to the replacement value of your property, minus depreciation.

For further details on actual cash value versus replacement cost, you can refer to this article.