Utah General Liability Insurance – UT
Utah General liability insurance is necessary coverage to have for all businesses big or small.
This form of insurance protects your business against many 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 require general liability insurance.
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This type of coverage can help protect your business against claims relevant to malpractice or bodily harm.
General liability insurance in Utah is offered in different types of coverage, and the one you need will depend on the form of business you operate.
For example, if you operate a construction business, then you will require a higher level of general liability insurance coverage.
5 Key Reasons Why You Require General Liability Insurance in Utah
One of the many 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 founder, you should already know that running any kind of business is already risky.
General liability insurance in Utah not only covers your business against claims stemming from injury and property damage but also any issues as a tenant if you are renting a place.
Further, it provides coverage for not only your business but also your coworkers against claims resulting from injury or property damage to third parties.
Apart from being an all-important part of your business, here are 5 key reasons your business needs general liability insurance.
Workers’ Compensation Insurance in Utah
If you are a handyman, you already know about the cash you can give up if you fall ill.
As a handyperson, you are not covered by government workers’ compensation advantages, therefore you should have UT handyman insurance.
Research reveals that injuries to independent workers in Utah were up by a whopping 12 percent.
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When you buy Utah general liability insurance, you are protected financially for medical costs related to the injury at the worksite.
Depending on the general liability insurance coverage you choose, you may also be eligible for pay 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 Utah.
If your company provides services that can cause damage to others including customers, then investing in general liability insurance should not be an option.
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One excellent example of this is UT dog walker insurance, which protects your pet sitting business if the dog causes injury to others.
Another example is when you are fixing your client’s drywall, and they slip over your tools, then you will be accountable for their injury.
If you buy general liability insurance in Utah, your policy will pay for the costs of these claims.
Third-Party Property Damage
Another significant reason to get general liability insurance in Utah is to protect your business from third-party property damage.
For example, you are repairing 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 damage, you may have to pay for these claims from your own pockets, that is if you do not have a general liability insurance policy.
Utah General liability insurance can help cover your business against any lawsuits arising from claims that you failed to deliver services as promised.
Things such as inaccurate advice can be covered under a general liability insurance policy.
General liability insurance can also oftentimes include professional liability insurance, so speak to your insurance agent to check if they provide this type of insurance.
While general liability insurance protects 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 label, then it is important to have general liability insurance in Utah, and here is why!
If a customer 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 via your website, then it is a great idea to check out UT eCommerce insurance to better safeguard your interests.
Take, for example, your organization is selling facial creams, and a person has an allergic reaction to your offering, 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, few things may not be covered under your insurance contract.
The first thing that may not be covered is against incidents not related to your services. Employee injuries may also not be covered under your general liability insurance contract.
As a business, you may be hauling several expensive tools in your car or even at your client’s property.
If these tools do get stolen, you will require specialized general liability insurance.
In the case of theft of your personal belongings, your auto insurance policy will not protect these things against theft.
Another area where general liability insurance may not offer coverage is if you make mistakes 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 exceed your policy limit.
Different Types 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 business liability insurance, this (type of insurance covers your corporation against claims that cause bodily injury or property damage to third parties.
Adding to this, general liability insurance also covers your business against reputational harm or oversight in your advertising.
A few examples of things general liability insurance will protect 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 with claims against your business that originate from errors in the services you provide.
For example, if you are a chartered accountant that provides a client with wrong figures, and they sue you, professional liability insurance will cover the legal expenses.
If you offer professional services to clients, then you should as your insurance agency about professional liability insurance.
Employer Liability Insurance
If your business has several staff, opting for employee liability insurance is a good idea.
This type of insurance covers your workers against any injury they may incur at the workplace.
Further, employer liability insurance can also pay for disability benefits, missed wages and funeral costs.
What is the Cost of General Liability Insurance?
The price for general liability insurance is different across insurance providers. It depends on several different factors including the sort of business you are running.
For example, if you are running a drywall business, then the cost for your premiums will be higher than other forms of businesses, hence you should explore UT roofing insurance.
But to give you a ballpark idea, general liability insurance costs $40 per month, but a little lower if you choose to pay annually.
High-risk industries can expect to pay higher premiums such as landscaping categories.
You can save money if you pay for your insurance plan in full annually.
Further, you can also save money on your general liability insurance policy if you bundle all your policies under one insurance company.
You should also minimize your organization claims on your general liability insurance plan.
How to Look For General Liability Insurance Companies in Utah?
When looking for the best general liability insurance company in your state, it is important to check the agency’s reputation.
You should then determine your coverage limit, where the higher the insurance coverage, the higher the price of premiums.
But it is critically important that you choose 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 company’s risks for the right coverage limit.
But $1 million and $2 million are the most chosen coverage limits of general liability insurance.