General liability insurance in California
General liability insurance, often gets called GLI, is a policy for companies and businesses. You might have heard it with other names, such as commercial general liability insurance or business liability insurance.
GLI insurance policy helps your company or business and protects it from claims from property damage or bodily injury that might happen during working hours and while the workers are at the business.
If you do not have General Liability Insurance in California, you will have to pay the property damages and medical expenses with your personal income.
It’s wise to have general liability insurance for your company to save money and prevent heavy losses.
Does the state law require you to have General Liability Insurance?
It is not mandatory by state law to have General Liability Insurance. But it is still a useful plan with many benefits for your business.
Also, in some states, it is mandatory for some types of business, like construction. It might be required by your:
- landlord,
- mortgage company,
- clients.
You put your business at great risk if not having such a policy to help you in emergencies. Common insurance policies are found, but there are some aspects of general liability that you often need.
The certificate of general liability could give the customer, bank manager, and property manager peace of mind regarding your financial stability and not paying the costs of a lawsuit against your company.
How can General Liability Insurance help your business?
The question comes into your mind is that whether your business needs General Liability Insurance or not. You hear yes most of the time but is it necessary for your small business? The answer is, again, a definite yes. There are various citations and cases that you need the General Liability Insurance in California, and below are some of the items:
Bodily Injury
If one of your clients or customers injures himself/herself, the General Liability Insurance covers the medical expenses and pays the bills.
Property Damage
How would you react if a customer’s service or product gets damaged during delivery, packaging, or other steps? You can be calm about it by General Liability Insurance as it pays for such damages.
Reputational Harm
Some legal prosecution at work and other cases can cost your company a lot of money:
- lander,
- libel,
- wrongful eviction
- violating a person’s privacy.
General Liability covers expenses in the above cases.
Advertising Injuries
The other coverage of general liability is claims of copyright infringement. They might be unwanted but can cause you financial trouble.
Damage to premises rented to you
Your general liability policy can help you with the explosion, lightning, or damage by fire to your rented property. It assists you with the repairs.
The above cases can be very general, so the general liability may not cover some of the cases. One sample is the medical costs for an injured worker. Also, lost wages for workers are not covered by this policy. You should get workers’ compensation for this case.
These are some of the samples that a general liability policy doesn’t cover:
- If an employee is sick or hurts on the job.
- One client sues you for making a mistake in the field of professional business.
- While driving a company-owned car, you have an accident delivering company products.
The above items are only samples. You would better contact us to get familiar with the general liability policy in detail.
Who should get General Liability Insurance in California?
In the realm of business, out of every 10 businesses, four of them are likely to experience a general liability claim. The range of accidents varies and can happen to anyone. No one can be sure that such incidents won’t happen in his/her area or business.
Some of the incidents that could happen are as follows:
- Burglary and theft
- Damage from water & freezing.
- Fire damage
- Customer slip and fall
- Damage caused by wind and hail.
A customer injury damage could cost the business up to $30.000, while reputational harm could cost $50.000.
Also, 35% of all general liability claims end up in a lawsuit. Unfortunately, the lawsuit could raise the claim up to $75.000 to defend and settle.
So it’s recommended for every business to have General Liability Insurance appropriate for the business.
In some cases, the customers or clients won’t sign a contract with you or receive services unless you have general liability insurance. They confirm that you have such a policy and then begin working with you. A general liability Insurance policy is a form of coverage for a rainy day. Increases protection and peace of mind is what clients might want from the business. So a certificate of liability insurance is needed to sign the new deal.
General Liability Insurance in California cost
The cost of your General Liability Insurance in California is up to various factors. It could begin from a few hundred dollars to thousands of dollars. The one determining factor is the type of your business. In case yours is among the high-risk industries, you are likely to pay higher to decrease the risks.
These are some of the high-risk companies in terms of general liability insurance:
- Demolition,
- Construction,
- Mining,
- Manufacturing.
These are the factors that influence the cost of your general liability insurance:
- Age
- Risk exposure
- Location
- Years in business
- Number of employees
- Building condition
- Type of business
- Policy details,
- Insurance claims history
- Coverage limits
You might be confused and think of too many scenarios. The best way to know the general liability ost is to give David Elist insurance a call and give us some information about your business. We will provide you with useful information and give you a cost estimate.
How can I get General Liability Insurance in California?
You are one phone call away from a General Liability Insurance in California. Give David Elist insurance a call at 818-999-9737, and we will provide you with the best policy by your conditions.
Best General Liability Insurance in California
David Elist insurance is the best General Liability Insurance in California you can get.
We have provided the best insurance coverage to our clients in California for a long time.
Just give us a call at 818-999-9737, and our expert will guide you on insurance options.
You will get the best insurance policy that suits your condition.
Frequently asked questions about General liability insurance in California
How Much Is General Liability Per Year?
It’s up to your business type and so many other factors; see the article.
What Doesn’t Liability Insurance Cover?
If an employee gets hurt and a few other items, see the article or give us a call.
Should I get General liability insurance in California?
It’s up to you and the type of your company but it’s recommended.
