Montana General Liability Insurance – MT
Montana General liability insurance is must-have coverage to have for all businesses big or small.
This form of insurance covers your business against many 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.
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This kind of coverage can help shield your business against claims about malpractice or bodily harm.
General liability insurance in Montana is offered in several types of coverage, and the one you need will depend on the form of business you have.
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 Must Have General Liability Insurance in Montana
One of the several common questions business owners ask is do I really need general liability insurance? And the short answer is Yes!
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As a business operator, you should already know that growing any kind of business is already risky.
General liability insurance in Montana not only protects your business against claims stemming from injury and property damage, but also from any liabilities as a tenant if you are renting a space.
Further, it extends coverage for not only your business, but also your coworkers against claims stemming from injury or property damage to third parties.
Apart from being an all-important part of your business, here are 5 great reasons your business should have general liability insurance.
Workers’ Compensation Insurance in Montana
If you are a handyman, you already know about the compensation you can miss if you fall ill.
As a handiwork, you are not protected by government workers’ compensation advantages, therefore you should have MT handyman insurance.
Research reveals that injuries to independent workers in Montana were increased by a whopping 12 percent.
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When you invest in Montana 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 choose, 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 Montana.
If your company provides services that can cause damage to others including pets, then investing in general liability insurance should not be an option.
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One excellent example of this is MT dog walker insurance, which covers your pet sitting business if the dog 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 accountable for their injury.
If you have general liability insurance in Montana, your policy will pay for the fees of these claims.
Third-Party Property Damage
Another crucial reason to get general liability insurance in Montana is to shield your business from third-party property damage.
For example, you are restoring your customer’s roof, and you mistakenly damage an expensive vase, then you will have to reimburse for the damages.
Depending on the cost of what you break, you may have to pay for these claims from your own pockets, that is if you do not have a general liability insurance policy.
Montana 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 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 covers your business against myriad different kinds of claims, professional liability insurance is more designed 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 Montana, and here is why!
If a client claims bodily hurt due to the use of your establishment’s products, then general liability insurance will shield you against these sorts of claims.
And if you sell your products online, then it is a great idea to check out MT 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 Protected Under General Liability Insurance?
Depending on the coverage of general liability insurance you choose, few things may not be covered under your insurance policy.
The first thing that may not be protected is against incidents not related to your services. Employee accidents 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 client’s property.
If these things do get stolen, you will need specialized general liability insurance.
In the incident of theft of your personal tools, your truck insurance policy will not replace these things against theft.
Another area where general liability insurance may not offer protection is if you make glitches in your services.
When investing in general liability insurance, you should pick your coverage limit wisely. Because your general liability insurance policy will not give costs that are over your policy limit.
Different Types of General Liability Insurance
General liability insurance is a broad term for several types of insurances, most notably:
General Liability Insurance
Also known as CGL commercial liability insurance or BL form of insurance covers your business against claims that cause bodily injury or property damage to someone else.
Furthermore, general liability insurance also covers your company against reputational harm or oversight 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 known as errors and omissions insurance, professional liability insurance comes claims against your company that stem 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 provide the legal expenses.
If you give professional services to people, then you should as your insurance agent about professional liability insurance.
Employer Liability Insurance
If your organization has many employees, opting for employee liability insurance is a good idea.
This type of insurance covers your workers against any injury they may sustain at the work location.
Further, employer liability insurance can also provide disability benefits, missed wages, and funeral costs.
What is the Cost of General Liability Insurance?
The cost for general liability insurance changes across insurance providers. It depends on a lot of different factors including the sort of business you are operating.
For example, if you are running a drywall business, then the cost for your premiums will be above that of other kinds of businesses, hence you should have MT roofing insurance.
But to give you an approximate 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 contracting categories.
You can save money if you pay for your insurance policy in full annually.
Additionally, you can also save funds 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 policy.
How to Find General Liability Insurance Companies in Montana?
When finding the best general liability insurance agent 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 you must opt for the right amount of coverage.
If you do not know about the coverage limit you need, speak to your general liability insurance company to help evaluate your company’s risks for the right coverage limit.
But $1 million and $2 million are the most chosen coverage limits of general liability insurance.