General Liability Insurance
General Liability Insurance will provide protection that’s needed to pay damages for bodily injury or property damages for which you’re considered legally responsible.
Do you need General Liability Insurance?
As an Oregon business you’re faced with several liability hazards. General liability insures what you are legally liable. The five basic protections in a Commercial General Liability Insurance policy typically include:
Premises coverage is provided for damages arising out of ownership or occupancy of your business premises when not maintained in a reasonable manner. This also covers damages arising out of operations performed by your Oregon business.
Products coverage is provided for damages arising out of products manufactured, sold, handled or distributed by your business. Completed Operations covers damages occurring after operations have been completed or abandoned, or after an item is installed or built and released for it’s intended purpose.
Personal Injury means injury other than bodily injury. Coverage is provided for injury resulting from offenses such as false arrest, malicious prosecution, detention or imprisonment, wrongful entry into, wrongful eviction from and other acts of invasion, or rights of private occupancy of a room. Coverage for libel and slander is also provided in the policy.This coverage pays for damages done in the course of oral or written advertisement that disparages, libels or slanders a person’s or organization’s goods, products or services. Coverage for these offenses is provided under advertising injury coverage only if they occur during the course of advertising the named insured’s own goods, products or services.
Medical expense coverage pays medical expenses resulting from bodily injury caused by an accident on premises owned or rented by you, or locations next to such property, or when caused by your operations. These payments are made without regard to the liability of the your business.
The fire damage limit provides coverage for fire damage caused by negligence on part of your business to premises rented to your company. If a fire occurs because of your negligence and causes damage to property not rented to the insured, coverage would be provided under this coverage.
General Liability Insurance Costs
General Liability Insurance costs are based on a number of factors which include:
- Type of business
- Type of products manufactured or operations performed
- Square footage
- or Payroll
- or Gross sales depending on the general liability classification codes used
- Business experience
- Loss history
Commercial General Liability insurance for your Oregon business does not protect your business against every liability. Additional liability coverage’s that your business should review for consideration are:
Professional Liability Insurance also known as Errors & Omissions
Cyber Liability Insurance
Employee Practices Liability Insurance
Directors & Officers Coverage
Workers Compensation Insurance
Commercial Auto Insurance
Reach out to me when you’re considering Commercial General Liability Insurance. I will discuss with you how it works and assess if it fits into your risk management needs. If you determine this coverage is needed I will then provide you with comparative Commercial General Liability Insurance quotes from multiple insurance carriers so you can get the best possible rate.
As an insurance broker I help businesses throughout Oregon and the Pacific Northwest manage risk.