California General Liability Insurance – CA
California General liability insurance is must-have coverage to have for any businesses big or small.
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This type of insurance shields your business against any claims stemming from harm to third parties or your customers.
The fact is that all businesses face some form of risk, which is why they must have general liability insurance.
This form of coverage can help shield your business against claims related to malpractice or bodily harm.
General liability insurance in California can be had in several types of coverage, and the one you must have will depend on the type of business you operate.
For example, if you run a construction business, then you will require a higher level of general liability insurance coverage.
5 Important Reasons Why You Require General Liability Insurance in California
One of the most common questions business owners ask is do I really require general liability insurance? And the short answer is Yes!
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As a business operator, you should already know that growing any type of business is already risky.
General liability insurance in California not only safeguards your business against claims arising from injury and property damage but also any liabilities as a tenant if you are renting a place.
Further, it provides coverage for not only your business, but also your employees against claims resulting from injury or property damage to third parties.
Apart from being an all-important part of your business, here are 5 excellent reasons your business should have general liability insurance.
Workers’ Compensation Insurance in California
If you are a handyman, you already should be aware of the compensation you can give up if you fall ill.
As a handyperson, you are not covered by government workers’ compensation benefits, therefore you should check out CA handyman insurance.
Research shows that injuries to independent workers in California were up by a whopping 12 percent.
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When you invest in California general liability insurance, you are protected financially for medical costs related to the injury at the workplace.
Depending on the general liability insurance plan you select, you may also be eligible for compensation for the days you are off work.
Third-Party Bodily Injury Protection
This is perhaps the most important reason to invest in general liability insurance in California.
If your company offers services that can cause harm to others including clients, then buying general liability insurance should not be an option.
One good example of this is CA dog walker insurance, which shields your pet sitting business if the animal causes injury to others.
Another example is when you are repairing your client’s drywall, and they slip over your tools, then you will be liable for their injury.
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If you buy general liability insurance in California, your policy will pay for the penalties of these claims.
Third-Party Property Damage
Another significant reason to get general liability insurance in California is to protect your business from third-party property damage.
For example, you are repairing your customer’s roof, and you mistakenly damage an expensive vase, then you will have to compensate for the damages.
Depending on the cost of what you spoil, you may have to pay for these claims from your own savings, that is if you do not have a general liability insurance policy.
California General liability insurance can help shield your business against any lawsuits arising from claims that you did not deliver services as promised.
Things such as inaccurate advice can be paid for under a general liability insurance policy.
General liability insurance can also oftentimes include professional liability insurance, so speak to your insurance provider to check if they provide this type of insurance.
While general liability insurance protects your business against several different sorts of claims, professional liability insurance is more geared towards errors you make in your business services.
If you are manufacturing and selling things under your own label, then it is important to have general liability insurance in California, and here is why!
If a client claims bodily injury due to the use of your establishment’s products, then general liability insurance will cover you against these types of claims.
And if you sell your products via your website, then it is a great idea to check out CA eCommerce insurance to better protect your interests.
Take, for example, your organization is selling facial creams, and a person has an allergic reaction to your offering, then general liability insurance can help cover costs if you get sued.
What is Not Protected Under General Liability Insurance?
Depending on the coverage of general liability insurance you choose, certain things may not be covered under your insurance policy.
The first thing that may not be covered is against incidents not related to your services. Employee injuries may also not be covered under your general liability insurance terms.
As a business, you may be storing several expensive tools in your truck or even at your customer’s property.
If these accessories do get stolen, you will need specialized general liability insurance.
In the event of theft of your personal property, your car insurance policy will not replace these items against theft.
Another area where general liability insurance may not offer compensation is if you make errors in your services.
When investing in general liability insurance, you should select your coverage limit wisely. Because your general liability insurance policy will not cover costs that are higher than your policy limit.
Different Forms of General Liability Insurance
General liability insurance is a widely used term for myriad types of insurances, most notably:
General Liability Insurance
Also dubbed as CGL commercial liability insurance or BL kind of insurance shields your corporation against claims that cause bodily injury or property damage to someone else.
Further, general liability insurance also covers your company against reputational harm or oversight in your advertising.
A few examples of things general liability insurance will cover your business against include property damage, advertising errors, and reputational harm.
Professional Liability Insurance PL
Also known as errors and omissions insurance, professional liability insurance comes with claims against your entity that arise from errors in the services you give.
For example, if you are a chartered accountant that provides a client with incorrect figures, and they sue you, professional liability insurance will provide the legal expenses.
If you give professional services to clients, then you should as your insurance agency about professional liability insurance.
Employer Liability Insurance
If your organization has a lot of workers, opting for employee liability insurance is a good idea.
This form of insurance shields your workers against any injury they may incur at the workplace.
Additionally, employer liability insurance can also provide disability benefits, missed wages, and funeral costs.
What is the Price of General Liability Insurance?
The charge for general liability insurance is different across insurance providers. It depends on many different factors including the kind of business you are handling.
For example, if you are running a roofing business, then the charge for your premiums will be above that of other types of businesses, hence you should check out CA roofing insurance.
But to give you a ballpark idea, general liability insurance costs $40 per month, but a little lower if you choose to pay annually.
High-risk industries can expect to pay higher premiums such as construction categories.
You can save funds if you pay for your insurance contract in full annually.
Further, you can also save cash on your general liability insurance policy if you club all your policies under one insurance agency.
You should also minimize your company claims on your general liability insurance policy.
How to Locate General Liability Insurance Companies in California?
When finding the best general liability insurance company in your state, it is important to check the company’s reputation.
You should then determine your coverage limit, where the higher the coverage, the higher the charge of premiums.
But you must select the right amount of coverage.
If you do not know about the coverage limit you need, speak to your general liability insurance provider to help evaluate your business risks for the right coverage limit.
But $1 million and $2 million are the most chosen coverage limits of general liability insurance.