General Liability Insurance in Portland, OR
Businesses are often exposed to significant financial risks that could arise from accidents, injuries or damage involving third parties. Imagine a scenario where a customer gets hurt in your store or your product causes harm to a user. With general liability insurance, your business may access crucial financial aid that may help pay for legal fees, medical expenses and compensation claims.
Who Needs General Liability Insurance?
General liability insurance, or business liability insurance, is essential for any business that interacts with the public, clients or customers. This includes retail stores, restaurants, contractors and service providers. Even home-based businesses can benefit from this coverage, as they are not immune to liability risks.
What Does My Insurance Cover?
General liability insurance for businesses may provide various financial protections, including the following:
- Bodily injury coverage may pay for medical expenses, legal fees and any potential settlements if a customer or third party is injured on your business premises.
- Property damage coverage may help with repair or replacement costs for accidental damage to someone else’s property.
- Personal and advertising injury coverage may limit losses arising from claims of slander, libel and copyright infringement.
- Legal defense and judgments coverage may assist with the cost of your defense and any judgments or settlements if your business is sued, up to the policy limits.
How Much Does Coverage Cost?
Several factors may determine your general liability insurance cost. Insurers typically calculate your premium based on the following:
- Type of business
- Location
- Workforce size
- Number of clients
- Claims history
- Coverage details (e.g., policy limits and endorsements)
To understand your business’s exact cost, it’s essential to get a personalized quote. Talk to an insurance professional to get started.
Where to Get General Liability Insurance
AIC Insurance Agency – Portland Office can offer low-cost general liability insurance without sacrificing coverage. Contact us today for a free quote.