New Hampshire General Liability Insurance – NH
New Hampshire General liability insurance is crucial coverage to have for most businesses big or small.
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This type of insurance shields your business against several claims stemming from injury to third parties or your customers.
The fact is that most businesses face some form of risk, which is why they need general liability insurance.
This kind of coverage can help protect your business against claims relevant to malpractice or bodily offenses.
General liability insurance in New Hampshire can be had in different types of coverage, and the one you require will depend on the kind of business you have.
For example, if you operate a construction business, then you will require a higher level of general liability insurance coverage.
5 Big Reasons Why You Need General Liability Insurance in New Hampshire
One of the many 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 owner, you should already know that operating any kind of business is already risky.
General liability insurance in New Hampshire not only covers your business against claims stemming from injury and property damage, but also from any issues as a tenant if you are renting a property.
Further, it provides coverage for not only your business, but also your employees against claims stemming from injury or property damage to third parties.
Apart from being an essential part of your business, here are 5 key reasons your business needs general liability insurance.
Workers’ Compensation Insurance in New Hampshire
If you are a handyman, you already know about the compensation you can miss if you fall ill.
As a handyman, you are not covered by government workers’ compensation benefits, therefore you should check out NH handyman insurance.
Research reveals that injuries to independent workers in New Hampshire were on the rise by a whopping 12 percent.
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When you pay for New Hampshire general liability insurance, you are covered financially for medical costs related to the injury at the workplace.
Depending on the general liability insurance policy you opt for, 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 New Hampshire.
If your company provides services that can cause injury to others including pets, then buying general liability insurance should not be an option.
One good example of this is NH dog walker insurance, which protects your pet sitting business if the pet causes harm to others.
Another example is when you are restoring your client’s drywall, and they slip over your tools, then you will be accountable for their injury.
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If you have general liability insurance in New Hampshire, your policy will pay for the penalties of these claims.
Third-Party Property Damage
Another important reason to get general liability insurance in New Hampshire is to shield your business from third-party property damage.
For example, you are fixing your customer’s roof, and you mistakenly spoil an expensive vase, then you will have to pay for the damages.
Depending on the cost of what you damage, you may have to pay for these claims from your own pockets, that is if you do not have a general liability insurance contract.
New Hampshire 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 paid for 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 provide this form of insurance.
While general liability insurance shields your business against several different types of claims, professional liability insurance is more geared towards errors you make in your business services.
If you are manufacturing and selling things under your own brand, then it is wise to have general liability insurance in New Hampshire, and here is why!
If a client claims bodily hurt due to the use of your establishment’s products, then general liability insurance will protect you against these kinds of claims.
And if you sell your products on the web, then it is a smart idea to check out NH eCommerce insurance to better shield 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 kind of general liability insurance you choose, there are certain 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 contract.
As a business, you may be storing several expensive tools in your car or even at your end user’s property.
If these things do get stolen, you will have to get specialized general liability insurance.
In the case of theft of your personal tools, your truck insurance policy will not replace these tools 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 choose your coverage limit wisely. Because your general liability insurance policy will not cover costs that are higher than your policy limit.
Different Types of General Liability Insurance
General liability insurance is an umbrella term for many types of insurances, most notably:
General Liability Insurance
Also known as CGL commercial liability insurance or BL form of insurance protects your corporation against claims that cause bodily injury or property damage to someone else.
Further, general liability insurance also covers your corporation against reputational harm or oversight 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 referred to as errors and omissions insurance, professional liability insurance comes claims against your company that originate from errors in the services you give.
For example, if you are a chartered accountant that gives a client incorrect figures, and they sue you, professional liability insurance will cover the legal expenses.
If you provide professional services to clients, then you should as your insurance agent about professional liability insurance.
Employer Liability Insurance
If your organization has several staff, opting for employee liability insurance is a great idea.
This form of insurance shields your employees against any injury they may experience at the work location.
Furthermore, employer liability insurance can also provide disability benefits, missed wages, and funeral costs.
What is the Charge of General Liability Insurance?
The price for general liability insurance changes across insurance providers. It depends on many 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 kinds of businesses, hence you should have NH 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.
Additionally, you can also save money on your general liability insurance policy if you group 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 New Hampshire?
When looking for the best general liability insurance company in your area, it is important to check the organization’s reputation.
You should then choose your coverage limit, where the higher the insurance coverage, the higher the charge of premiums.
But it is highly 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 company 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.