Nebraska General Liability Insurance – NE
Nebraska General liability insurance is must-have coverage to have for most businesses big or small.
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This kind of insurance shields your business against different claims stemming from injury to third parties or your customers.
The fact is that most businesses face some level of risk, which is why they need general liability insurance.
This type of coverage can help protect your business against claims relevant to malpractice or bodily offenses.
General liability insurance in Nebraska is offered in different types of coverage, and the one you must have will depend on the kind of business you run.
For example, if you have a construction business, then you will opt for a higher level of general liability insurance coverage.
5 Big Reasons Why You Must Have General Liability Insurance in Nebraska
One of the many 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 founder, you should already know that growing any type of business is already risky.
General liability insurance in Nebraska not only safeguards your business against claims arising from injury and property damage, but also from any liabilities as a tenant if you are renting a property.
Further, it offers 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 essential part of your business, here are 5 key reasons your business should have general liability insurance.
Workers’ Compensation Insurance in Nebraska
If you are a handyman, you already should be aware of the cash you can miss if you fall ill.
As a handyperson, you are not shielded by government workers’ compensation perks, therefore you should have NE handyman insurance.
Research shows that injuries to independent workers in Nebraska were up by a whopping 12 percent.
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When you buy Nebraska general liability insurance, you are covered 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 time you are off work.
Third-Party Bodily Injury Protection
This is perhaps the most crucial reason to invest in general liability insurance in Nebraska.
If your company provides services that can cause damage to others including pets, then getting general liability insurance should not be an option.
One excellent example of this is NE dog walker insurance, which covers your pet sitting business if the pet causes harm to others.
Another example is when you are repairing your client’s drywall, and they slip over your tools, then you will be have to pay for their injury.
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If you have general liability insurance in Nebraska, your policy will pay for the fees of these claims.
Third-Party Property Damage
Another important reason to get general liability insurance in Nebraska is to shield your business from third-party property damage.
For example, you are restoring your customer’s roof, and you mistakenly spoil 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 savings, that is if you do not have a general liability insurance policy.
Nebraska General liability insurance can help protect your business against any lawsuits originating 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 sometimes include professional liability insurance, so speak to your insurance agent to check if they offer this form of insurance.
While general liability insurance protects your business against several different sorts 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 brand, then it is important to have general liability insurance in Nebraska, and here is why!
If a person claims bodily hurt due to the use of your establishment’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 smart idea to check out NE eCommerce insurance to better protect your interests.
Take, for example, your organization is selling facial creams, and a client 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 kind of general liability insurance you choose, few things 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 contract.
As a business, you may be storing several expensive tools in your truck or even at your client’s property.
If these tools do get stolen, you will need specialized general liability insurance.
In the event of theft of your personal tools, your truck insurance policy will not replace these items against theft.
Another area where general liability insurance may not offer compensation is if you make errors in your services.
When getting general liability insurance, you should select your coverage limit wisely. Because your general liability insurance policy will not cover costs that are higher than your policy limit.
Different Forms of General Liability Insurance
General liability insurance is a widely used term for several 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 company against claims that cause bodily injury or property damage to third parties.
Adding to this, general liability insurance also covers your corporation against reputational harm or oversight in your advertising.
A few 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 company that arise from errors in the services you provide.
For example, if you are a financial broker 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 customers, then you should as your insurance company about professional liability insurance.
Employer Liability Insurance
If your company has many staff, opting for employee liability insurance is a great idea.
This kind of insurance shields your employees against any injury they may sustain at the work location.
Furthermore, 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 varies across insurance providers. It depends on many different factors including the type of business you are operating.
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 have NE roofing insurance.
But to give you a rough idea, general liability insurance costs $40 per month, but a little lower if you choose to pay annually.
High-risk companies can expect to pay higher premiums such as landscaping categories.
You can save funds if you pay for your insurance plan in full annually.
Furthermore, 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 contract.
How to Find General Liability Insurance Companies in Nebraska?
When finding the best general liability insurance provider in your state, it is important to check the company’s reputation.
You should then determine your coverage limit, where the higher the limit, the higher the charge of premiums.
But you must 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 business risks for the right coverage limit.
But $1 million and $2 million are the most selected coverage limits of general liability insurance.