General Liability Insurance
A General Liability or GL policy will provide coverage for Bodily Injury or Property Damage, but does not include coverage for Business Personal Property. These policies help cover your costs for defense and damages in these circumstances.
Common General Liability claims include:
- Medical Expenses
- Property Damage
- Bodily injury
- Personal/advertising injury
General Liability is a base coverage that any business owner should have. Whether you’re a real estate brokerage or a retail store. As the name might suggest, this is general liability coverage for businesses.
Business Owners Policy
A Business Owner Policy or BOP, as it is commonly referred to, is an insurance package that provides broad coverage with affordable premiums. It combines Property and Liability coverage into one package and will include insurance for buildings and their contents. It may also provide coverage for Business Income and Extra Expense that result from an insured peril. The liability section includes coverage for Bodily Injury or Property Damage that a business may be liable for.
It is important to note that General Liability or BOP policies do not cover Professional Liability which is liability arising from wrongful practice by while acting in a professional capacity. To learn more about how to address your Professional Liability exposure, check out our Errors & Omissions Program.