General Liability Insurance: Explanation Of General Liability Insurance

General liability insurance financially protects you if a catastrophic event occurs and you are to blame. You can get general liability insurance, or slip and fall insurance, even if you are not a business owner with customers and clients. Private people have a wide variety of hobbies and pastimes, all of which have the potential to hurt a person or damage their property.

General liability insurance will cover you financially from claims of bodily injury and property damage that may occur on or off your premises. Whenever you are responsible for a group of people, adults and children, you can be sued.

When looking into buying general liability insurance, try to assess your risk factor. If you are in a high-risk situation, you should consider a higher indemnity. A homeowner with no pets has a lower risk factor than a homeowner with a dog; and the dog owner may have a lower risk factor than a beekeeper.

Research the judgments awarded to plaintiffs in your state. Some states are known for their generous awards to victims of personal injury or property damage. A standard general liability insurance policy can cover a $1,000,000 judgment. If you feel there is a possibility that you can be sued for a greater amount, you can purchase an umbrella policy that will increase the amount of your standard policy’s payout.

When picking out a general liability insurance policy, be sure the overall dollar amount that covers you for the entire length of the policy, and the dollar amount for which you are covered for a single incident are sufficient. These are two different amounts and can run you into trouble if you think you are covered for $1,000,000 but you are only covered for $250,000 for one incident.

A lawsuit against you can arise from a wide variety of situations. An event may occur while your nephew is helping you with your remote control helicopter in your backyard. An injury may also occur while you are coaching your son’s little league game. Perhaps a situation arises at the Bonsai enthusiasts meeting you held at your local community center.

General Liability Insurance: Explanation Of General Liability Insurance

Punitive damages are awarded to a victim if you have deliberately injured another person or purposely damaged his personal belongings. If you are sued by someone you purposely hurt, your general liability insurance will not cover any punitive damages you incur.

Accidents happen even at the fault of the most safety-conscious person. Be ready to financially cover any liability claims against you.

General Liability Insurance: What Does General Liability Insurance Cover?

General liability insurance will ensure you can pay if you are responsible for, and sued for, someone’s bodily injury or the damage to someone’s personal property. There is a wide variety of occurrences that your general liability insurance considers a coverable incident. Your coverage will pay for medical bills, property replacement, legal fees, judgments and settlements.

Whether you are a homeowner, have hobbies, are involved with your community, or own property, you can find yourself in a situation where you are personally responsible for someone’s injuries or property damage.

As a homeowner, you are responsible for the events that occur in your house and on your land. If your daughter has her friends over and one of them falls off your daughter’s swing set and breaks a tooth, you can be sued for negligence and causing bodily injury.

Your hobby can result in an injury or damage. As a model airplane builder, you may invite other enthusiasts and their airplanes into your home. If damage occurs to one of your guest’s airplanes, your general liability insurance will cover you if you are sued for the damage.

Being a part of a sport is a great pastime. However, as the organizer of a league, you are liable for a large number of contingencies. This includes:

  • Injuries or death to players, spectators and volunteers.
  • Property damage including personal property, practice fields and equipment.
  • Medical malpractice due to errors by a team’s trainer.

Certain sports are not covered under general liability insurance as they are considered high risk and require specialized coverage. This includes motor sports, hot air balloons, bungee jumping, mountain climbing, rodeos and so on. Confirm whether or not your sport is considered high risk and make sure you are fully covered.

General Liability Insurance: What Does General Liability Insurance Cover?

If you own property that you rent out and you are rarely there to supervise and maintain, it is wise for you and your tenant to be covered with general liability insurance. As the owner, you can be held responsible for anything that happens on that property.

  • The neighbors may sue you for noise or any other disruption your tenant may be causing.
  • If a trespasser is hurt, he can sue you for negligence.
  • Your tenant can sue you for water damage to his personal property if the water pipes burst due to your lack of maintenance.

There can be danger lurking around every corner. Keep yourself financially covered for any accident.

General Liability Insurance: Who Needs General Liability Insurance?

General liability insurance is for everyone. This is a litigious society. A precedent has been set and insurance has adapted to cover people for many contingencies. General liability insurance is a basic coverage to insure you for the most common injuries and damages. If your personal life or professional career is considered high risk, you may need additional coverage.

Individuals who own a house, have a hobby, or participate in community activities should consider protecting themselves. If someone trips and falls while you are in a supervisory capacity, you can be held responsible and sued for negligence.

A landlord must take extra precautions to protect himself from a very wide variety of contingencies. Situations can arise for which you may be responsible even if you are not on the property at the time.

  • Your property’s tenant can sue for any damages due to improper maintenance.
  • Your property’s neighbors can sue you for the actions taken by your tenant.
  • Trespassers can sue you for any injury or property damage they may incur.

People who hold a public office, such as a city, county or school district representative, should protect themselves financially with general liability insurance. People in these positions are targets for public harassment due to a citizen’s personal injury or property damage on public property. Also, people voted into a public office are vulnerable to accusations of serious slander and defamation of character. Whether the damages are real or imagined, there are significant costs related to defending yourself. Your general liability insurance will cover court costs, win or lose.

General liability insurance for personal or private chefs is a relatively new coverage. If you are a chef that works in other people’s homes, you can be held liable for anything ranging from damages you may do to their kitchen, to food poisoning from serving spoiled food.

When your profession involves working with children, there are many contingencies that require insurance coverage. General life insurance can cover many incidences. However additional insurance is recommended to cover more serious allegations. Your general life insurance policy will cover minor injuries to students, teachers and visiting parents. It will also cover any student or teacher property damage, including damage done to vehicles in the school’s parking lot.

No matter what safety precautions you take, you can end up being blamed and then sued. Make sure you are fully covered in every aspect of your life.

General Liability Insurance Directory

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