Connecticut General Liability Insurance – CT
Connecticut General liability insurance is necessary coverage to have for most businesses big or small.
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This type of insurance protects your business against many claims stemming from injury to third parties or your customers.
The fact is that all businesses face some type of risk, which is why they must have general liability insurance.
This form of coverage can help protect your business against claims pertaining to malpractice or bodily offenses.
General liability insurance in Connecticut is offered in several types of coverage, and the one you need will depend on the kind of business you run.
For example, if you operate a construction business, then you will need a higher level of general liability insurance coverage.
5 Important Reasons Why You Need General Liability Insurance in Connecticut
One of the many common questions business owners ask is do I really need to buy general liability insurance? And the short answer is Yes!
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As a business owner, you should already know that operating any type of business is already risky.
General liability insurance in Connecticut not only safeguards your business against claims originating from injury and property damage, but also from any claims as a tenant if you are renting a space.
Further, it offers 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 important part of your business, here are 5 great reasons your business needs general liability insurance.
Workers’ Compensation Insurance in Connecticut
If you are a handyman, you already are aware of the cash you can miss if you fall ill.
As a handyman, you are not shielded by government workers’ compensation benefits, therefore you should explore CT handyman insurance.
Research reveals that injuries to independent workers in Connecticut were on the rise by a whopping 12 percent.
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When you pay for Connecticut general liability insurance, you are covered financially for medical costs related to the injury at the worksite.
Depending on the general liability insurance policy you select, you may also be eligible for cash for the weeks you are off work.
Third-Party Bodily Injury Protection
This is perhaps the most important reason to invest in general liability insurance in Connecticut.
If your company provides services that can cause injury to others including customers, then getting general liability insurance should not be an option.
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One excellent example of this is CT dog walker insurance, which shields your pet sitting business if the dog causes injury to others.
Another example is when you are restoring your client’s drywall, and they trip over your tools, then you will be accountable for their injury.
If you invest in general liability insurance in Connecticut, your policy will pay for the costs of these claims.
Third-Party Property Damage
Another crucial reason to get general liability insurance in Connecticut is to protect your business from third-party property damage.
For example, you are repairing your customer’s roof, and you mistakenly break an expensive vase, then you will have to pay for the damages.
Depending on the cost of what you spoil, you may have to pay for these claims from your own cash, that is if you do not have a general liability insurance contract.
Connecticut General liability insurance can help cover your business against any lawsuits stemming from claims that you did not deliver services as promised.
Things such as poor workmanship can be covered under a general liability insurance policy.
General liability insurance can also sometimes include professional liability insurance, so speak to your insurance agent to check if they provide this type of insurance.
While general liability insurance covers your business against many different types of claims, professional liability insurance is more designed towards errors you make in your business services.
If you are manufacturing and selling things under your own brand, then it is wise to have general liability insurance in Connecticut, and here is why!
If a customer claims bodily hurt due to the use of your business’s products, then general liability insurance will cover you against these kinds of claims.
And if you sell your products online, then it is a good idea to check out CT eCommerce insurance to better protect your interests.
Take, for example, your business 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 Shielded Under General Liability Insurance?
Depending on the kind of general liability insurance you choose, there are some things that may not be covered under your insurance contract.
The first thing that may not be shielded is against lawsuits not related to your services. Employee accidents may also not be covered under your general liability insurance terms.
As a business, you may be hauling several expensive tools in your car 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 protect these things against theft.
Another area where general liability insurance may not offer protection 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 over your policy limit.
Different Types of General Liability Insurance
General liability insurance is a broad term for myriad types of insurances, most notably:
General Liability Insurance
Also dubbed as CGL commercial liability insurance or BL business liability insurance, this (type of insurance covers your corporation against claims that cause bodily injury or property damage to others.
Further, general liability insurance also covers your business against reputational harm or errors in your advertising.
Some examples of things general liability insurance will shield your business against include property damage, advertising errors, and reputational harm.
Professional Liability Insurance PL
Also referred to as errors and omissions insurance, professional liability insurance comes claims against your company that originate from errors in the services you provide.
For example, if you are a chartered accountant that gives a client incorrect figures, and they sue you, professional liability insurance will cover the legal expenses.
If you offer professional services to people, then you should as your insurance company about professional liability insurance.
Employer Liability Insurance
If your business has a lot of workers, opting for employee liability insurance is a great idea.
This form of insurance shields your staff against any injury they may incur at the worksite.
Additionally, employer liability insurance can also pay for disability benefits, missed wages, and funeral costs.
What is the Cost of General Liability Insurance?
The price for general liability insurance changes across insurance providers. It depends on several different factors including the kind of business you are handling.
For example, if you are running a drywall business, then the charge for your premiums will be more than other types of businesses, hence you should explore CT roofing insurance.
But to give you a ballpark idea, general liability insurance costs $40 per month, but a little lower if you select to pay annually.
High-risk companies can expect to pay higher premiums such as landscaping categories.
You can save money if you pay for your insurance policy in full annually.
Additionally, you can also save money on your general liability insurance policy if you club all your policies under one insurance provider.
You should also minimize your organization’s claims on your general liability insurance contract.
How to Look For General Liability Insurance Companies in Connecticut?
When finding the best general liability insurance provider in your state, it is important to check the agency’s reputation.
You should then select your coverage limit, where the higher the insurance coverage, the higher the charge of premiums.
But it is critically important that you choose the right amount of coverage.
If you are unsure about the coverage limit you need, speak to your general liability insurance provider to help evaluate your organization’s risks for the right coverage limit.
But $1 million and $2 million are the most chosen coverage limits of general liability insurance.