General Liability Insurance in Maine
Allen/Freeman/McDonnell Agency
General Liability Insurance
- What Is It?
- Who Needs It?
- Coverages Offered
General liability insurance is one of the most common liability coverages. Even though the insurance is common, policies can be adapted to specific business’s risk mitigation needs.
Sometimes, select businesses will have difficulty landing major contracts if they don’t have general liability in place. Commercial and government customers, especially, may require the coverage of any vendor or contractor they use.
Bodily Injury Coverage
Premises Coverage
Property Damage Coverage:
What is general liability insurance?
Businesses across industries face certain common liability risks, and the risks can be crippling even though they’re basic. General liability insurance can help protect Maine businesses from the financial consequences that many of these risks can have.
General liability insurance is one of the most common liability coverages. Even though the insurance is common, policies can be adapted to a specific business’ risk mitigation needs. Businesses should work closely with a knowledgeable insurance agent to make sure a chosen policy meets their particular needs.
What Maine businesses should carry general liability coverage?
The vast majority of businesses in Maine can benefit from general liability’s protections. Few businesses aren’t exposed to these risks, and even a seemingly minor incident can be costly if a lawsuit is filed.
Sometimes, select businesses will have difficulty landing major contracts if they don’t have general liability in place. Commercial and government customers, especially, may require the coverage of any vendor or contractor they use.
Even if the coverage isn’t required, however, businesses should still consider the foundation coverages that this insurance provides.
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What coverages are available through general liability policies?
The broad protections that general liability provides are often specified through several distinct coverages. Depending on a particular policy’s terms, these may include:
- Bodily Injury Coverage: Generally cover injuries to third parties (e.g. customers, vendors) that a business is responsible for
- Premises Coverage: Generally restrict bodily injury coverage for third-party injuries occurring on a business’s property
- Property Damage Coverage: Generally cover damage to others’ property that a business is responsible for
- Personal Advertising Injury Protection: Generally cover libel (written) and slander (spoken) defamation lawsuits, along with false advertising claims
Sometimes general liability policies offer other protections, such as product liability coverage. Any additional protections can be limited, though, and only meet basic needs that businesses have. Businesses should speak to an insurance agent who specializes in general liability policies, so they can understand all of the major and minor protections that a given policy comes with.
Does general liability cover work injuries that employees suffer?
Although the bodily injury coverage afforded by general liability normally applies to a variety of situations, employee injuries typically aren’t one of those situations. The insurance instead usually reserves its injury coverage for harm that third parties, such as customers and vendors, sustain.
Work injuries are most commonly covered by workers compensation insurance, which businesses that have employees are oft required to carry.
Do home-based businesses need general liability coverage?
Home based businesses also face many of the same risks as other businesses. Many home businesses are exposed to certain third-party injury risks, both on and off premises, and can also face potential claims of defamation, slander or false advertising. Procuring general liability coverage is usually recommended for these reasons.
How home businesses procure general liability coverage depends on a business’ specific situation. A few homeowners insurance policies generally offer adequate protection, if only limited coverage is needed. Otherwise, a commercial general liability policy is probably in order.
How can Maine businesses get general liability insurance?
For help finding general liability insurance in Maine, contact the independent insurance agents at Allen/Freeman/McDonnell Agency. Our agents are well-versed in this coverage and ready to assist you.
