Understanding your General Liability Coverage

As any New Jersey business owner should be aware, you need to ensure you have general liability insurance NJ as part of your business insurance package. It’s one of the four main policies that form the basics of most business insurance.

Your general liability insurance is designed to cover bodily injury and property damage caused by an accident on your business premises. It can help protect you financially against claims made by individuals who were involved in any such accidents. It can cover a broad range of incidents and can be taken out by both businesses and not for profit organizations.

However, there are exclusions – these are situations that may not be covered by your general liability insurance. For most of these, you will need to look into more specific coverage designed particularly to protect you financially against losses resulting from these risks. 

For example, errors and omissions coverage is a policy you might consider if your business offers services of any kind. In a situation where a client suffers harm or some other kind of loss due to negligence or an error in the service they have purchased from you, they may decide to claim against your business. 

Liability is one of the fastest growing components of insurance in the industry, as more people seek to recover damages for losses they experience across a wide range of areas. Your general liability insurance NJ may not be enough to protect your business against all liability claims, so you should call your agent for advice about extra coverage.

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