West Virginia General Liability Insurance – WV
West Virginia General liability insurance is necessary coverage to have for most businesses big or small.
This kind of insurance covers your business against several 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 require general liability insurance.
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This kind of coverage can help shield your business against claims relevant to malpractice or bodily injury.
General liability insurance in West Virginia can be had in several types of coverage, and the one you require 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 Important Reasons Why You Require General Liability Insurance in West Virginia
One of the most 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 founder, you should already know that operating any size of a business is already risky.
General liability insurance in West Virginia not only safeguards your business against claims arising from injury and property damage, but also from any claims as a tenant if you are renting a space.
Further, it provides coverage for not only your business, but also your coworkers against claims originating from injury or property damage to third parties.
Apart from being an important part of your business, here are 5 great reasons your business should have general liability insurance.
Workers’ Compensation Insurance in West Virginia
If you are a handy worker, you already know about the compensation you can give up if you fall ill.
As a handyperson, you are not covered by government workers’ compensation advantages, therefore you should check out WV handyman insurance.
Research reveals that injuries to independent workers in West Virginia were up by a whopping 12 percent.
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When you invest in West Virginia general liability insurance, you are shielded financially for medical costs related to the injury at the workplace.
Depending on the general liability insurance coverage you opt for, you may also be eligible for compensation for the time you are off work.
Third-Party Bodily Injury Protection
This is perhaps the most important reason to buy general liability insurance in West Virginia.
If your company runs services that can cause harm to others including clients, then getting general liability insurance should not be an option.
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One excellent example of this is WV dog walker insurance, which protects your pet sitting business if the animal causes injury to others.
Another example is when you are restoring your client’s drywall, and they fall over your tools, then you will be have to pay for their injury.
If you invest in general liability insurance in West Virginia, your policy will pay for the costs of these claims.
Third-Party Property Damage
Another important reason to get general liability insurance in West Virginia is to safeguard your business from third-party property damage.
For example, you are fixing your customer’s roof, and you mistakenly break an expensive vase, then you will have to pay for the damages.
Depending on the cost of what you spoil, you may have to pay for these claims from your own pockets, that is if you do not have general liability insurance coverage.
West Virginia General liability insurance can help protect your business against any lawsuits stemming from claims that you poorly deliver services as promised.
Things such as inaccurate advice can be included under a general liability insurance policy.
General liability insurance can also sometimes include professional liability insurance, so speak to your insurance agency to check if they offer this form of insurance.
While general liability insurance protects your business against myriad different sorts 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 crucial to have general liability insurance in West Virginia, and here is why!
If a person claims bodily injury due to the use of your company’s products, then general liability insurance will cover you against these types of claims.
And if you sell your products on the web, then it is a great idea to check out WV eCommerce insurance to better shield your interests.
Take, for example, your business 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 kind of general liability insurance you choose, there are few things that may not be covered under your insurance policy.
The first thing that may not be protected is against lawsuits not related to your services. Employee illnesses may also not be covered under your general liability insurance terms.
As a business, you may be hauling several expensive tools in your truck or even at your end user’s property.
If these things do get stolen, you will need specialized general liability insurance.
In the case of theft of your personal property, your truck insurance policy will not cover these things against theft.
Another area where general liability insurance may not offer compensation is if you make glitches 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 over your policy limit.
Different Kinds 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 kind of insurance protects your business 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 mistakes 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 business that arise from errors in the services you offer.
For example, if you are a financial specialist that provides a client with incorrect figures, and they sue you, professional liability insurance will cover the legal expenses.
If you provide professional services to people, then you should as your insurance agency about professional liability insurance.
Employer Liability Insurance
If your company has several 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 workplace.
Further, employer liability insurance can also pay for disability benefits, missed wages, and funeral costs.
What is the Price of General Liability Insurance?
The cost for general liability insurance changes across insurance providers. It depends on several different factors including the sort of business you are operating.
For example, if you are running a construction business, then the price for your premiums will be above than of other types of businesses, hence you should have WV 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 construction categories.
You can save money if you pay for your insurance policy in full annually.
Additionally, you can also save money on your general liability insurance policy if you bundle all your policies under one insurance provider.
You should also minimize your organization’s claims on your general liability insurance contract.
How to Locate General Liability Insurance Companies in West Virginia?
When searching for the best general liability insurance provider in your state, it is important to check the agency’s reputation.
You should then choose your coverage limit, where the higher the coverage, the higher the cost of premiums.
But it is highly important that you opt for 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 selected coverage limits of general liability insurance.