General liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers the general liability exposures of a business. It is a standard policy that business owners across all industries must have. It protects you during your day-to-day operations with limits broken down into per occurrence and aggregate per year amounts. Depending on the industry you conduct business in, your liability exposure is usually determined by employee payroll/subcontractor costs, total gross sales, or total square feet. General liability policies are auditable, and at the end of a policy term companies will compare the projected figures with the actual payroll or sales number.
Depending on the type of business you operate there are other types of liability insurance, in addition to general liability, that may be necessary:
Professional Liability Insurance (Errors & Omissions)
Employment Practices Liability Insurance (EPLI)
Directors and Officers Insurance (D&O)
Since some type of liability insurance is needed for every business owner, it’s critical to make sure you have the right combination. Bradenton Insurance works with businesses of all sizes and specializes in helping you determine what coverage and limits will properly protect your business.
We can find discounts on business insurance you may not find on your own. Give us a call, or get a business insurance quote online today.