Louisiana General Liability Insurance – LA
Louisiana General liability insurance is necessary coverage to have for any businesses big or small.
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This form of insurance protects your business against several claims stemming from injury to third parties or your customers.
The fact is that most businesses face some type of risk, which is why they need general liability insurance.
This form of coverage can help protect your business against claims pertaining to malpractice or bodily offenses.
General liability insurance in Louisiana can be had in several types of coverage, and the one you must have will depend on the form of business you have.
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 Must Have General Liability Insurance in Louisiana
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 operating any size of a business is already risky.
General liability insurance in Louisiana not only covers your business against claims arising from injury and property damage, but also from any claims as a tenant if you are renting a place.
Further, it extends 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 essential part of your business, here are 5 great reasons your business requires general liability insurance.
Workers’ Compensation Insurance in Louisiana
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 protected by government workers’ compensation perks, therefore you should check out LA handyman insurance.
Research indicates that injuries to independent workers in Louisiana were increased by a whopping 12 percent.
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When you pay for Louisiana general liability insurance, you are shielded financially for medical costs related to the injury at the worksite.
Depending on the general liability insurance coverage 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 biggest reason to get general liability insurance in Louisiana.
If your company offers services that can cause harm to others including pets, then buying general liability insurance should not be an option.
One excellent example of this is LA dog walker insurance, which covers your pet sitting business if the dog causes hurt to others.
Another example is when you are restoring your client’s drywall, and they trip over your tools, then you will be have to pay for their injury.
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If you invest in general liability insurance in Louisiana, your policy will pay for the fees of these claims.
Third-Party Property Damage
Another crucial reason to get general liability insurance in Louisiana is to shield your business from third-party property damage.
For example, you are restoring 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 pockets, that is if you do not have general liability insurance coverage.
Louisiana 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 mostly include professional liability insurance, so speak to your insurance agency to check if they offer this kind of insurance.
While general liability insurance protects your business against many different types 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 label, then it is wise to have general liability insurance in Louisiana, and here is why!
If a customer claims bodily harm 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 online, then it is a smart idea to check out LA eCommerce insurance to better protect your interests.
Take, for example, your organization is selling facial creams, and a customer has an allergic reaction to your product, then general liability insurance can help cover costs if you get sued.
What is Not Shielded Under General Liability Insurance?
Depending on the type of general liability insurance you choose, there are certain things that may not be covered under your insurance contract.
The first thing that may not be shielded is against claims not related to your services. Employee accidents may also not be covered under your general liability insurance policy.
As a business, you may be hauling several expensive tools in your car or even at your customer’s property.
If these things do get stolen, you will need specialized general liability insurance.
In the incident of theft of your personal belongings, your truck insurance policy will not protect these things against theft.
Another area where general liability insurance may not offer compensation is if you make mistakes in your services.
When buying general liability insurance, you should choose your coverage limit wisely. Because your general liability insurance policy will not give costs that are higher than your policy limit.
Different Kinds of General Liability Insurance
General liability insurance is a broad term for many types of insurances, most notably:
General Liability Insurance
Also dubbed as CGL commercial liability insurance or BL form of insurance covers your company against claims that cause bodily injury or property damage to someone else.
Adding to this, general liability insurance also covers your corporation against reputational harm or oversight in your advertising.
Some examples of things general liability insurance will protect 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 entity that arise from errors in the services you give.
For example, if you are a financial broker that gives a client incorrect figures, and they sue you, professional liability insurance will provide the legal expenses.
If you give professional services to customers, then you should as your insurance company about professional liability insurance.
Employer Liability Insurance
If your organization has several employees, opting for employee liability insurance is a great idea.
This kind of insurance shields your staff against any injury they may sustain at the work location.
Further, employer liability insurance can also cover disability benefits, missed wages, and funeral costs.
What is the Charge of General Liability Insurance?
The cost for general liability insurance changes across insurance providers. It depends on several different factors including the type of business you are running.
For example, if you are running a construction business, then the cost for your premiums will be above that of other kinds of businesses, hence you should explore LA roofing insurance.
But to give you an approximate idea, general liability insurance costs $40 per month, but a little lower if you opt to pay annually.
High-risk industries can expect to pay higher premiums such as landscaping categories.
You can save funds if you pay for your insurance contract in full annually.
Further, you can also save funds on your general liability insurance policy if you group all your policies under one insurance company.
You should also minimize your organization’s claims on your general liability insurance policy.
How to Find General Liability Insurance Companies in Louisiana?
When finding the best general liability insurance company in your city, it is important to check the organization’s reputation.
You should then choose your coverage limit, where the higher the coverage, the higher the cost of premiums.
But it is highly important that you opt for the right amount of coverage.
If you are unclear about the coverage limit you need, speak to your general liability insurance agent to help evaluate your business risks for the right coverage limit.
But $1 million and $2 million are the most common coverage limits of general liability insurance.