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General Liability

 

Normally it is difficult for businesses or general contractors to work without general insurance. General Liability Insurance is intended to guard operators and owners of companies from claims that may come from a broad spectrum of sources. These exposures could be just about anything including liability engendered by accidents from the operations of the insured party, contractual liability, products manufactured by the insured party, etc.

The liability you select, whether it is one, two or three million dollars, determines the cost of general liability insurance. Also factored into the rates are the kind of work undertaken, gross receipts and total payroll expenses. Similar to auto insurance, when it comes to general liability insurance, you will first have to make a down payment and then follow it up with installments.