Common general liability insurance claims include a customer slipping and falling on your premises. A contractor damages a client’s property on the job. A competitor sues over trademark infringement in your advertising. A product your business sold injures a customer months after the sale. The average slip-and-fall claim costs small businesses $30,000 or more.
FAQ_category: (HIDDEN) Industry FAQs
Commercial general liability insurance costs most small businesses between $400 and $1,500 per year. Premiums often start around $30 per month for low-risk operations. Your rate depends on your industry, location, coverage limits, and claims history. Gild customers typically spend about $250 per year for general liability insurance for small business.
General liability insurance does not require an LLC. Sole proprietors, partnerships, corporations, and LLCs can all purchase a general liability policy. Business liability insurance covers any business structure. Many small business owners get general liability coverage before formally registering their business.
Commercial general liability insurance coverage includes bodily injury, property damage, personal and advertising injury, products and completed operations, and medical payments. It pays legal defense costs and settlements awarded against your business. Commercial general liability insurance does not cover employee injuries, professional errors, or damage to your own property.
A $1,000,000 general liability policy costs most small businesses between $400 and $1,500 per year. Your rate depends on your industry, location, number of employees, and claims history. Low-risk businesses like consultants pay toward the lower end. Contractors and restaurants pay more. Most clients require the $1 million per occurrence limit before signing a contract.