Business liability insurance: a

Wang Yan

Global Courant

Almost every business, regardless of size or industry, needs commercial property and general liability insurance. The cost of commercial general liability insurance obviously varies widely depending on the industry, with “higher risk” industries such as construction paying more. Fortunately, there are some good sites that offer free quotes. For small businesses, CGL insurance can cost well under $100 per month, while larger businesses can pay hundreds or even thousands.

This makes sense, as larger companies generally have more employees, customers they serve, and larger buildings they occupy. The more people and goods involved, the greater the risk that someone could be injured. You may also be expected to pay workers’ compensation, depending on where you live and what type of industry you operate in. Location also plays a role. If your business is located in a high-crime neighborhood, you’ll likely be expected to pay more for insurance than a comparable business in a small city or country with a low crime rate.

You’re more likely to get a low business liability insurance quote if you have experience and your business has been around for at least a few years. This is because the longer a company has been involved in the industry, the more likely it is to be financially stable. It also looks impressive if no claims have been filed against your company.

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Deductibles and Premiums in Business General Liability Insurance

Like literally every other form of insurance out there, deductibles and premiums come into play. Lower deductibles usually mean lower premiums, and higher deductibles result in lower premiums. If you are willing to increase your deductible, the cost of CGL insurance will be reduced each month.

Another factor that can play a role in the quotes you get is gross sales. It goes without saying that the more income you have, the higher your premium will be.

There are more options if you want protection for yourself. CGL insurance usually does not cover owner injuries. Depending on your industry, you may have inventory that you want to protect. An inventory of goods is usually valued at the price the business owner paid for it, even if you intend to sell it at a higher price. If you operate in the financial industry, you may want to consider errors and omissions coverage.

To get business liability insurance and any other type of coverage specifically tailored to your needs at Hiscox Insurance Company. You can get a quick, free quote in minutes. Hiscox Insurance offers the best customer support.

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Business liability insurance: a

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