General Liability Insurance
General Liability Insurance Information
Austin, TX General Liability Insurance
As one of the largest and most competitive economies in the United States, Texas offers countless opportunities and incentives for every business owner to make their commercial endeavors succeed. However, your business is nothing without the correct insurance backing it up, and one of the most critical pieces of coverage you need is commercial general liability (CGL) coverage.
You can’t avoid the chances of someone like a customer or vendor claiming that you caused them harm. However, liability insurance will be there to make sure you have the money to compensate them when you have a legal obligation to do so. Here at Dowd Insurance, we are committed to helping every business owner get the customized benefits that will always come to their assistance in case of any unexpected problem.
To get your coverage quickly, easily and without a hassle, contact one of our agents at 512-331-0787 or request your free, no obligation quote online now.
Common General Liability Insurance Questions
What Is General Liability Insurance?
No matter how hard you will try to offer dependable, responsive and secure services in your business, there’s no guarantee that something won’t go wrong. If it does, then you might be obligated to compensate a customer or other third party for any loss that you might have caused them. Liability insurance is the benefit that will help you do so. It will help you never suffer an undue financial challenge just because of an accident that you are obligated to pay for.
What Does General Liability Insurance Cover?
A CGL policy covers your business against any number of common liabilities that any business could face. Generally, it covers:
Property Damage: In the course of your work, you might cause property damage to another party’s belongings. This coverage can help you pay for their losses.
Personal Injuries: Someone might allege that you committed acts like libel, slander or copyright infringement. If you must settle with them, then you might be able to use your liability plan.
Products/Completed Operations Liabilities: Sometimes, the products you make or the services you provide someone might cause them harm. For example, a coffee cup you manufacture might unexpectedly shatter and spill burning liquid on a client. If they sue you, then liability coverage can help you fight back.
The primary payout from this coverage will go to the third party who files the claim, and they will be able to move on from the incident with very little personal hassle. However, the policy will also provide coverage for the legal expenses that might arise from a liability lawsuit. It will be instrumental in helping the business move on from the incident with as little of a cost impact as possible.
How Much General Liability Insurance Coverage do I Need?
All in all, general liability insurance is designed to help you minimize your business’s personal financial challenges that might arise following a challenge from a dissatisfied customer, vendor or other party. By buying coverage that exceeds the net worth of your company, you’ll protect its value.
Keep in mind, CGL insurance alone is not all-encompassing. Therefore, you’ll often need to augment it with multiple more specific types of liability coverage such as:
Errors & omissions (E&O) insurance
Hired/non-owned auto liability coverage
Commercial auto liability insurance
Employment practices liability insurance
Cyber liability insurance
Directors & officers (D&O) liability insurance
Getting Your General Liability Coverage
There are numerous avenues to follow to get the right general liability insurance, such as by buying it through a Business Owners Policy (BOP) or a Commercial Package Policy (CPP). The solution that is right for your nearest competitor might not be the right one for you, however. That’s why our agents are committed to helping you get the coverage that will be most advantageous to you, and we know how to employ all the mechanisms at our disposal to do so.