Washington General Liability Insurance – WA
Washington General liability insurance is crucial coverage to have for most businesses big or small.
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This form of insurance shields your business against different claims stemming from harm to third parties or your customers.
The fact is that most businesses face some type of risk, which is why they need general liability insurance.
This form of coverage can help protect your business against claims relevant to malpractice or bodily injury.
General liability insurance in Washington is offered in many types of coverage, and the one you need will depend on the kind of business you run.
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 Washington
One of the most 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 operator, you should already know that growing any type of business is already risky.
General liability insurance in Washington not only protects 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 Washington
If you are a handyman, you already know about the cash you can miss if you fall ill.
As a handy worker, you are not covered by government workers’ compensation benefits, therefore you should explore WA handyman insurance.
Research reveals that injuries to independent workers in Washington were up by a whopping 12 percent.
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When you buy Washington general liability insurance, you are shielded financially for medical costs related to the injury at the job.
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 invest in general liability insurance in Washington.
If your company runs services that can cause damage to others including pets, then buying general liability insurance should not be an option.
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One excellent example of this is WA dog walker insurance, which covers your pet sitting business if the pet causes hurt to others.
Another example is when you are fixing your client’s drywall, and they fall over your tools, then you will be accountable for their injury.
If you invest in general liability insurance in Washington, your policy will pay for the costs of these claims.
Third-Party Property Damage
Another important reason to get general liability insurance in Washington is to shield your business from third-party property damage.
For example, you are fixing your customer’s roof, and you mistakenly damage an expensive vase, then you will have to compensate for the damages.
Depending on the cost of what you damage, you may have to pay for these claims from your own savings, that is if you do not have general liability insurance coverage.
Washington General liability insurance can help cover your business against any lawsuits originating from claims that you failed to deliver services as promised.
Things such as negligence can be included under a general liability insurance policy.
General liability insurance can also mostly include professional liability insurance, so speak to your insurance agency to check if they provide this kind of insurance.
While general liability insurance shields your business against many different types 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 company, then it is important to have general liability insurance in Washington, and here is why!
If a customer claims bodily injury due to the use of your business’s products, then general liability insurance will shield you against these types of claims.
And if you sell your products via your website, then it is a good idea to check out WA 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 cream, then general liability insurance can help cover costs if you get sued.
What is Not Protected 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 shielded is against lawsuits not related to your services. Employee injuries may also not be covered under your general liability insurance policy.
As a business, you may be storing several expensive tools in your car or even at your end user’s property.
If these tools do get stolen, you will require specialized general liability insurance.
In the case of theft of your personal property, your auto insurance policy will not protect these items 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 select your coverage limit wisely. Because your general liability insurance policy will not cover costs that are over your policy limit.
Different Types of General Liability Insurance
General liability insurance is a widely used term for several 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 protects your corporation against claims that cause bodily injury or property damage to others.
Further, general liability insurance also covers your corporation against reputational harm or mistakes in your advertising.
Certain examples of things general liability insurance will cover 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 entity that stem from errors in the services you offer.
For example, if you are a chartered accountant that offers a client with wrong figures, and they sue you, professional liability insurance will cover the legal expenses.
If you provide professional services to customers, then you should as your insurance agency about professional liability insurance.
Employer Liability Insurance
If your company has several employees, opting for employee liability insurance is a wise idea.
This type of insurance covers your staff against any injury they may sustain at the worksite.
Further, employer liability insurance can also cover disability benefits, missed wages, and funeral costs.
What is the Price of General Liability Insurance?
The charge for general liability insurance varies across insurance providers. It depends on several different factors including the sort of business you are handling.
For example, if you are running a construction business, then the charge for your premiums will be higher than other types of businesses, hence you should explore WA 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 industries can expect to pay higher premiums such as landscaping categories.
You can save money if you pay for your insurance contract in full annually.
Additionally, you can also save cash on your general liability insurance policy if you bundle all your policies under one insurance company.
You should also minimize your organization’s claims on your general liability insurance plan.
How to Look For General Liability Insurance Companies in Washington?
When searching for the best general liability insurance company in your city, it is important to check the agency’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 agent to help evaluate your company’s risks for the right coverage limit.
But $1 million and $2 million are the most common coverage limits of general liability insurance.