About Commercial General Liability Insurance
Choosing and purchasing business insurance in Phoenix AZ can be a difficult task. In fact, with so many different options available, it can be hard to determine the type of coverage your business needs. You may even be surprised to know that most small and medium sized businesses are in a class that insurance carriers refer to as “Low Risk”. If your business falls into this category, then you are likely eligible for a low cost package policy known as a BOP, or Business Owner’s Policy, which includes the main and most important types of commercial general liability insurance as well as property insurance.
Phoenix commercial general liability insurance coverage may provide protection from bodily injury, property damages, products and completed operations, personal and advertising injury, as well as protection from other risks of liability that are imposed by lawsuits or similar claims. This type of business insurance may protect the insured in the event that your business is sued for claims that come within the scope of coverage of the insurance policy. When a claim is made, the insurance carrier can provide defense against these claims. In the U.S., commercial general liability insurance appears most often in the commercial general liability policy obtained by the businesses, and in homeowner’s insurance policies, by individual homeowners.
This is the most basic type of insurance plans small business owners should carry for their own protection. The cost for this varies greatly depending on the type of business and the inherent risks involved in that business. For example a retail store would need this insurance but would be less expensive than a roofing company where there are more potential liabilities involved. But even if your business is not “inherently risky”, and you or your employees are meeting with customers, you will need this insurance. Additionally, most commercial property landlords require that their tenants have general liability insurance when leasing space to them.
Your needs for coverage are always unique to YOUR business. We can work with you to help you determine what types of business insurance coverage best suits your business!