District of Columbia General Liability Insurance – DC
District of Columbia General liability insurance is crucial coverage to have for any businesses big or small.
This form of insurance shields your business against different claims stemming from harm to third parties or your customers.
The fact is that many businesses face some type of risk, which is why they must have general liability insurance.
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This kind of coverage can help protect your business against claims relevant to malpractice or bodily injury.
General liability insurance in the District of Columbia is available in different types of coverage, and the one you require will depend on the type of business you run.
For example, if you have a construction business, then you will require a higher level of general liability insurance coverage.
5 Big Reasons Why You Require General Liability Insurance in the District of Columbia
One of the several 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 founder, you should already know that running any kind of business is already risky.
General liability insurance in the District of Columbia not only covers your business against claims stemming from injury and property damage but also any issues as a tenant if you are renting a property.
Further, it extends coverage for not only your business but also your coworkers against claims originating from injury or property damage to third parties.
Apart from being an essential part of your business, here are 5 excellent reasons your business requires general liability insurance.
Workers’ Compensation Insurance in District of Columbia
If you are a handy worker, you already know about the money you can give up if you fall ill.
As a handyperson, you are not covered by government workers’ compensation benefits, therefore you should explore DC handyman insurance.
Research indicates that injuries to independent workers in the District of Columbia were on the rise by a whopping 12 percent.
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When you invest in District of Columbia general liability insurance, you are shielded financially for medical costs related to the injury at the workplace.
Depending on the general liability insurance coverage you opt for, you may also be eligible for pay for the time you are off work.
Third-Party Bodily Injury Protection
This is perhaps the most important reason to buy general liability insurance in the District of Columbia.
If your company provides services that can cause harm to others including pets, then buying general liability insurance should not be an option.
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One excellent example of this is DC dog walker insurance, which covers your pet sitting business if the pet causes harm 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 the District of Columbia, your policy will pay for the fees of these claims.
Third-Party Property Damage
Another important reason to get general liability insurance in the District of Columbia is to safeguard 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 break, you may have to pay for these claims from your own cash, that is if you do not have general liability insurance coverage.
District of Columbia 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 negligence 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 kind of insurance.
While general liability insurance shields your business against several different sorts of claims, professional liability insurance is more specific towards errors you make in your business services.
If you are manufacturing and selling merchandise under your own brand, then it is crucial to have general liability insurance in the District of Columbia, and here is why!
If a person claims bodily injury due to the use of your company’s products, then general liability insurance will protect you against these sorts of claims.
And if you sell your products via your website, then it is a good idea to check out DC eCommerce insurance to better safeguard your interests.
Take, for example, your business is selling facial creams, and a customer has an allergic reaction to your cream, then general liability insurance can help cover costs if you get sued.
What is Not Protected Under General Liability Insurance?
Depending on the type of general liability insurance you choose, certain things may not be covered under your insurance terms.
The first thing that may not be covered is against lawsuits not related to your services. Employee accidents may also not be covered under your general liability insurance contract.
As a business, you may be carrying several expensive tools in your vehicle or even at your customer’s property.
If these things do get stolen, you will have to get specialized general liability insurance.
In the event of theft of your personal tools, your auto insurance policy will not protect these things against theft.
Another area where general liability insurance may not offer protection is if you make mistakes 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 an umbrella term for myriad types of insurances, most notably:
General Liability Insurance
Also dubbed as CGL commercial liability insurance or BL form of insurance protects your corporation against claims that cause bodily injury or property damage to third parties.
Adding to this, general liability insurance also covers your business against reputational harm or mistakes in your advertising.
Certain examples of things general liability insurance will shield your business against include property damage, advertising errors, and reputational harm.
Professional Liability Insurance PL
Also dubbed 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 offers a client with wrong 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 agent about professional liability insurance.
Employer Liability Insurance
If your company has many workers, opting for employee liability insurance is a great idea.
This type of insurance covers your staff against any injury they may experience at the work location.
Additionally, employer liability insurance can also cover disability benefits, missed wages, and funeral costs.
What is the Price of General Liability Insurance?
The price for general liability insurance changes across insurance providers. It depends on a lot of different factors including the sort of business you are running.
For example, if you are running a drywall business, then the charge for your premiums will be higher than other kinds of businesses, hence you should check out DC 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 landscaping categories.
You can save cash if you pay for your insurance policy in full annually.
Furthermore, you can also save funds on your general liability insurance policy if you club all your policies under one insurance company.
You should also minimize your organization’s claims on your general liability insurance contract.
How to Locate General Liability Insurance Companies in the District of Columbia?
When finding the best general liability insurance provider in your state, it is important to check the organization’s reputation.
You should then choose your coverage limit, where the higher the coverage, the higher the price 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 organization’s risks for the right coverage limit.
But $1 million and $2 million are the most common coverage limits of general liability insurance.