General Liability Insurance: Does Your Small Business Need It?

General liability insurance is designed to cover businesses against a variety of common risks. For instance, if a display in your store falls and injures a customer or you accidentally damage a client’s equipment while completing a project, general liability insurance may help cover medical costs, legal fees and potential settlements.

Who Needs General Liability Coverage?

While general liability insurance isn’t required by law for most Ohio businesses, many landlords, clients or vendors may require proof of coverage before working with you. A policy can be crucial for many types of businesses, including, but not limited to, the following:

• Retailers and restaurants
• Contractors and service providers
• Consultants and freelancers
• Any business with a physical location open to the public

What Does General Liability Insurance Cover?

Our team at Universal Insurance Agency can help Ohio businesses secure coverage that typically includes:

• Third-party bodily injury and medical payments
• Property damage to others’ belongings
• Legal defense costs if your business is sued
• Personal and advertising injury, such as claims of libel or slander

How Much Does a Policy Cost?

General liability insurance rates often depend on many factors, including the industry you operate in, your workforce size and overall risk level. Insurers may also consider your claims history, location and coverage limits when determining your premium. Businesses in higher-risk fields or those with a history of claims typically pay more, while those in lower-risk operations may see more moderate rates.

Why Work With Universal Insurance Agency?

Our team takes the time to understand your operations and risks, enabling us to recommend liability coverage that suits your needs and budget. We’re here to answer your questions and help you navigate Ohio’s business insurance landscape. Contact us today to get started.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.