Massachusetts General Liability Insurance – MA
Massachusetts General liability insurance is must-have coverage to have for any businesses big or small.
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This kind 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 require general liability insurance.
This kind of coverage can help shield your business against claims relevant to malpractice or bodily injury.
General liability insurance in Massachusetts is offered in many types of coverage, and the one you require will depend on the type of business you have.
For example, if you have a construction business, then you will opt for a higher level of general liability insurance coverage.
5 Important Reasons Why You Must Have General Liability Insurance in Massachusetts
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 owner, you should already know that operating any kind of business is already risky.
General liability insurance in Massachusetts not only covers your business against claims arising from injury and property damage, but also from any issues as a tenant if you are renting a property.
Further, it extends coverage for not only your business, but also your staff against claims resulting from injury or property damage to third parties.
Apart from being an important part of your business, here are 5 excellent reasons your business should have general liability insurance.
Workers’ Compensation Insurance in Massachusetts
If you are a handyman, you already are aware of the cash you can lose if you fall ill.
As a handyman, you are not shielded by government workers’ compensation advantages, therefore you should have MA handyman insurance.
Research reveals that injuries to independent workers in Massachusetts were increased by a whopping 12 percent.
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When you buy Massachusetts general liability insurance, you are shielded financially for medical costs related to the injury at the workplace.
Depending on the general liability insurance policy 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 get general liability insurance in Massachusetts.
If your company offers services that can cause injury to others including customers, then investing in general liability insurance should not be an option.
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One good example of this is MA dog walker insurance, which shields your pet sitting business if the animal causes hurt to others.
Another example is when you are repairing your client’s drywall, and they trip over your tools, then you will be have to pay for their injury.
If you invest in general liability insurance in Massachusetts, your policy will pay for the costs of these claims.
Third-Party Property Damage
Another crucial reason to get general liability insurance in Massachusetts is to protect 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 compensate 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 a general liability insurance contract.
Massachusetts General liability insurance can help cover your business against any lawsuits stemming from claims that you poorly deliver services as promised.
Things such as poor workmanship can be included under a general liability insurance policy.
General liability insurance can also mostly include professional liability insurance, so speak to your insurance agent to check if they give this type of insurance.
While general liability insurance covers your business against myriad different types of claims, professional liability insurance is more specific towards errors you make in your business services.
If you are manufacturing and selling products under your own company, then it is important to have general liability insurance in Massachusetts, and here is why!
If a client claims bodily harm due to the use of your company’s products, then general liability insurance will protect you against these types of claims.
And if you sell your products on the web, then it is a great idea to check out MA eCommerce insurance to better protect your interests.
Take, for example, your business 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 Covered Under General Liability Insurance?
Depending on the type of general liability insurance you choose, there are few things that 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 illnesses may also not be covered under your general liability insurance terms.
As a business, you may be carrying several expensive tools in your car or even at your end user’s property.
If these tools do get stolen, you will need specialized general liability insurance.
In the incident of theft of your personal belongings, your car insurance policy will not replace these things against theft.
Another area where general liability insurance may not offer coverage 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 give costs that are over your policy limit.
Different Kinds of General Liability Insurance
General liability insurance is an umbrella term for myriad types of insurances, most notably:
General Liability Insurance
Also referred to as CGL commercial liability insurance or BL kind 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 company against reputational harm or errors in your advertising.
Some 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 claims against your entity that originate from errors in the services you provide.
For example, if you are a financial specialist that provides a client with erroneous 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 company about professional liability insurance.
Employer Liability Insurance
If your company has many workers, opting for employee liability insurance is a good idea.
This type of insurance protects your workers against any injury they may incur at the work location.
Further, employer liability insurance can also provide disability benefits, missed wages, and funeral costs.
What is the Price of General Liability Insurance?
The cost for general liability insurance changes across insurance providers. It depends on a lot of different factors including the kind of business you are handling.
For example, if you are running a drywall business, then the price for your premiums will be higher than other forms of businesses, hence you should check out MA 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 businesses can expect to pay higher premiums such as contracting categories.
You can save funds if you pay for your insurance policy in full annually.
Further, you can also save funds on your general liability insurance policy if you bundle all your policies under one insurance company.
You should also minimize your business claims on your general liability insurance plan.
How to Locate General Liability Insurance Companies in Massachusetts?
When looking for the best general liability insurance provider in your state, it is important to check the company’s reputation.
You should then choose your coverage limit, where the higher the insurance coverage, the higher the price of premiums.
But it is very important that you select 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 company’s risks for the right coverage limit.
But $1 million and $2 million are the most selected coverage limits of general liability insurance.