general and public liability

As a business owner, you want to protect your company from as many legal risks as possible without going broke. Liability takes care of the legal fees and other expenses that occur if your company issued, so it’s important to have some type of liability coverage. One of the first things you need to know is the benefits of general vs. public liability.

General Liability

Many businesses choose general liability for its comprehensive coverage. It pays costs associated with a variety of legal incidents:

  • Injuries that happen while on company property
  • Personal property damage
  • Accidents associated with product malfunctions
  • False advertising claims

Because it covers so much, however, general liability comes with higher premiums. These costs may exceed the budget restrictions of smaller companies, and it may an unnecessary expense for companies with lower risks.

Public Liability 

Small businesses may benefit more from public liability. It still covers property damage and injuries of anyone who visits the premises but does so for a lower monthly premium. If your business doesn’t have a great risk in the other areas that general liability covers, public liability may be a more economical choice in the long run.

Every business needs some type of liability coverage. Analyzing your budget and level of risk helps you choose the coverage that is right for your company.

How To Decide Between General and Public Liability