General liability insurance policies typically cover you and your company (business) for claims involving bodily injuries and property damage resulting from your products, services or operations.
A GL policy covers common business risks like customer injury, customer property damage, and advertising injury. It protects your small business from the high costs of lawsuits and helps you qualify for leases and contracts.
In other words, this is a “liability” type policy.
The term liability insurance refers to an insurance product that provides an insured party with protection against claims resulting from injuries and damage to other people or property. For more about what liability insurance is and how it works visit Investopedia.com
Trades people and other small business types who may need a general liability policy in place to conduct business include:
- Home inspectors
- Handy people
- Water restoration professionals
- Floor installers
- Tile install
- Food truck operations
A general liability policy does not cover the loss of business personal property (BPP) or a vehicle you use in the course of business. These not-covered items may include:
- trucks or autos used in the course of business
If you want coverage for your BPP, you will need a separate policy that covers “property”.