Business owners should consider investing in general liability insurance even if it’s not mandatory. This insurance may prevent financial losses from third-party claims related to bodily injury, property damage and personal or advertising injury. General liability coverage is required in specific industries to obtain a business license or secure contracts.

What Does General Liability Insurance Cover?

General liability insurance may cover your legal defense expenses and pay any losses you are responsible for, up to the policy’s coverage limits. Standard policies typically include the following:

• Bodily injury liability may cover medical expenses and legal fees if someone is injured on your business premises or due to your operations.

• Property damage liability may pay for damage your business caused to someone else’s property.

• Personal injury coverage may provide financial assistance following claims of defamation, libel or slander.

• Advertising injury coverage may cover claims related to copyright infringement, false advertising or misrepresentation.

• Medical payments coverage may pay for minor medical treatments for injuries occurring on your premises, regardless of fault.

What Factors Influence Policy Cost?

Many factors impact general liability insurance rates. Insurers often consider the following to calculate your premium:

• Industry type

• Location

• Revenue

• Workforce size

• Coverage amount

• Claims history

Talk to an insurance agent from The Meyer Group to assess your coverage requirements and provide customized recommendations. Ask us about potential discounts to help reduce your premium costs.

Insurance You Can Trust

The Meyer Group understands the insurance needs of small businesses in St. Louis, Missouri. Contact us today to secure your ideal policy at the most competitive price.