General Liability Insurance
General Liability Insurance is the most common type of insurance sold to business owners to protect themselves from claims and lawsuits filed by a 3rd party who claims they were financially or bodily harmed by your company,
General Liability Insurance includes coverage for: Premises and Operations, Products and Competed Operations, Premises Medical, Advertising Injury, and Fire Legal Liability
It is important to include list out all potential operations of your business to ensure that coverage exists for all of your exposures. For example, let's say you have an exterior painting exposure as the only listed exposure on the policy. In the winter months, you decide to sell services for snow removal or Christmas Light installation. Losses for anythiing other than exterior painting will not be covered as they fell outside of your scope of operation.
What factors determine your rate?
While many factors determine the ultimate rate, here are some of the common factors:
The nature of your business
Years of experience
Estimated gross revenue for the next 12 months
Estimated payroll for the next 12 months