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General Liability Insurance for an LLC

General Liability Insurance for an LLC

General Liability Insurance for an LLC

Starting and growing an LLC is an exciting journey. However, your exuberance may quickly turn to dread when accidents happen and your business makes mistakes resulting in lawsuits. With general liability insurance, you can protect your LLC.

Limited liability companies (LLCs) have unique structures that limit how much a business owner is responsible for damages. This keeps you safe as an individual but not as a business. A general liability insurance policy gives you the necessary protection to run an efficient, successful company.

General Liability Insurance for Businesses Explained

You might think general liability insurance policies are only for big-name companies, but that is not the case. Every business needs this type of insurance, regardless of size, structure, or industry.

Accidents can happen anytime your doors are open, potentially causing customers to take legal action. For example, an employee might fail to put out a “wet floor” sign after mopping up a mess. If a customer slips and falls, they could file a claim to make you pay for their injuries.

This is where general liability insurance comes into play. General liability insurance protects your business against injuries, property damage, and other risks that may arise during regular business operations. A well-rounded policy from a reliable insurance company can help you in the following ways:

  • Avoiding paying for legal fees or compensation out of pocket
  • Meeting business insurance requirements to satisfy clients
  • Maintaining an excellent reputation
  • Giving you peace of mind

What Does General Liability Insurance Cover for LLCs?

General liability insurance is a must-have for any LLC in the United States looking to avoid damaging its reputation with an ugly lawsuit. Few businesses can afford to use personal assets or company funds to cover a claim.

A general liability insurance plan will give you the protection you need to operate a safe, successful business. Coverage options may vary depending on your policy. However, general liability policies include the following coverages:

  • Bodily injury: Bodily injury claims, whether actual or alleged, are some of the most common claims that LLCs face. Your insurance policy can help cover the victim’s medical expenses, lost earnings, and more.
  • Property damage: No matter how careful you are, accidents still happen. Someone could sue you if your company damages their vehicle, building, property, etc. Your general liability insurance can help you pay for repairs or replacements.
  • Libel and slander: You could face serious legal accusations if you offend or embarrass a customer. However, general liability coverage will help you take care of these slander and libel cases.

What Isn’t Covered?

General liability insurance may protect your LLC in a broad range of circumstances, but it will not cover everything. You will need additional coverage to get total protection from financial losses due to a lawsuit. Here are some things a general liability insurance plan will not cover:

  • Company vehicles: Does your LLC own a fleet of cars? If so, you cannot rely on general liability insurance to protect them.
  • Work-related injuries or illnesses: General liability insurance does not cover workplace illnesses or injuries. If an employee files a bodily injury claim, workers’ compensation can help you cover costs related to medical care and recovery.
  • Errors, omissions, or negligence: A client could take your LLC to court for negligence or a major oversight. When that happens, you will want professional liability insurance to protect yourself and your company.

Request a Free General Liability Insurance Quote Today

Managing a successful business starts with having the right insurance policy.

At Lee Insurance Agency, we can help you sift through all the coverage options and find the best plan for your needs and budget. Contact us online or call 281-812-8400 for a free quote on general liability insurance for your LLC.

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