Commercial Insurance Lines: Business Owner’s/General Liability Insurance
General liability insurance, also called commercial or business liability, is essential to the life of your business.
When the unthinkable happens, an accident—that coverage becomes the difference between financial devastation and a graceful recovery.
Protect your business—and your personal assets—from everyday risks such as accidents, property damage, lawsuits and other losses.
O’Kane & Tegay agents can help you find the right coverage with the right competitive pricing, custom-made to your business.
General Liability Insurance for Small Businesses: Get the Coverage You Need
Most businesses in the Bay Area are small businesses, with less than 100 employees.
Nearly every kind of organization benefits from having business owner’s or general liability insurance, including:
- Counseling and consulting services
- Contracting – building, HVAC, electrical, plumbing, roofing
- Event planning
- Real estate
- Printers and publishing
- Tax preparation
- Training and education
- Interior design
- and many others
Whatever form of service or product you provide, whether you employ other people or work alone, the right business owner’s policy (BOP) is essential.
It gives you the legal and financial protection to stay in business profitably, despite potential setbacks.
There are three main types of coverage in a BOP:
1. General Business Liability Insurance
This general coverage protects you if you or your employee causes someone else to suffer personal injury, bodily injury or property damage on a job site, up to your chosen limits.
For example, one of your employees accidentally damages the plumbing or electrical system in a building during a construction project, your liability coverage will pay for the resulting damages.
Often in BOP coverage, general liability and property insurance are combined.
A typical general liability (GL) policy includes:
- Legal Defense and Judgments – Covers the costs of defending against real and frivolous suits and judgments, up to the limits of your coverage (generally excludes punitive damages for negligence or willful misconduct)
- Property Damage – Covers damage to property you are legally liable for (including rented property)
- Bodily Injury – Covers losses and medical expenses due to injuries suffered on-site by someone other than your employee, or injuries caused by you or an employee at a client’s or customer’s home or workplace
- Personal Injury – Covers losses from damage done to a person’s rights or reputation, due to libel, slander, copyright infringement, wrongful eviction, false arrest, invasion of property or privacy, and similar acts committed by you or your employee
- Advertising Injury – Covers losses sustained by another person due to your advertising
- Medical Payments – Covers medical expenses due to bodily injury suffered during the course of your business operations
2. Buildings and Business Personal Property Coverage
This coverage will cover the cost of replacing your commercially owned buildings and most of your business personal property as business owner, from a covered loss, up to the limits you’ve chosen.
(Business property coverage is optional for most contractors.)
3. Loss of Income and Extra Expense
This covers your loss of business income if your insured property is damaged in a way that disrupts business operations.
It insures your net income and covers the cost of ongoing normal operations, including payroll up to 60 days, and loss of net earnings up to 12 months, with no pre-set amount.
Other areas covered include:
- Employment practices liability coverage
- Electronic data and equipment coverage
- Identity theft insurance
- Valuable papers and records coverage
- Personal property of others coverage
Insurance required in California includes:
- Workers’ compensation – If you have employees, this covers their losses due to work-related illness or injury
- Commercial auto insurance – This covers you and your company drivers
California does not require businesses to have general liability insurance. But be aware that our state courts are known for awarding large liability judgments to plaintiffs.
California sets no limit on liability lawsuit rewards, leaving the door open for astronomical payouts on the part of businesses.
If you own property or other valuable assets, protect your investments fully with the right amount of commercial liability coverage.
General Liability Insurance: Getting the Right Amount of Coverage
Your business’s situation is unique. Your coverage should suit your situation, no more and no less.
We’ll find out about the type of products or services you offer, how long you’ve been in operation, how many employees you have, and your history of claims or losses.
Then we’ll look at your options with you, to help you determine how much and what kinds of commercial liability insurance you need.
We offer coverage limits tailored to your business needs.
The process of buying California business insurance can be confusing and complex for anyone.
O’Kane & Tegay representatives are here to help. We’ll guide you through the process, giving you a broad range of options and making the way as clear and simple as possible.
As independent brokers, we have access to a range of competitively priced markets with highly rated carriers.
We’ll base our recommendations on the potential risks of your unique situation, with your budget and preferences constantly in mind.
Learn more about your General Liability Insurance options.
Call now to speak with one of the friendly agents in our San Francisco office, at 415-242-8777.
We’ll review your current coverage for free, discuss your current risks and search for the best insurance products to fit your business.
Request a Quote by filling out an application.