General liability vs. professional liability insurance: Side-by-side
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MALE VOICEOVER: As a small business owner, you face risks every day. That's where insurance steps in to help mitigate your expenses when you're faced with a lawsuit. Look to general liability insurance and professional liability insurance to protect your business.
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These policies cover two different types of lawsuits. And in some cases, you may need to purchase both policies depending on your business needs.
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So, what does general liability insurance cover? General liability insurance protects your company from basic third-party claims, such as customer injuries, damage to their property, and product liability.
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On the other hand, professional liability insurance safeguards your business from lawsuits around your professional services, such as failure to uphold contractual promises, incomplete or substandard work, and mistakes or omissions.
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As with all insurance policies, the cost of each policy will vary depending on several factors about your business, such as your location and industry.
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[video: Under above header, four bullet points display the text: "Negligent professional services"; "Unmet contractual promises"; "Incomplete or substandard work"; "Errors and omissions"]
Some businesses carry more risk than others. Get liability insurance quotes with Insureon today.
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Click the link to get started.
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Even though both policies both protect small businesses from common liabilities, general liability and professional liability insurance cover two different types of lawsuits.
A general liability policy covers third-party physical damages, such as bodily injury and property damage. Whereas, professional liability (also known as errors and omissions insurance) covers financial damages due to professional mistakes and oversights.
Most small businesses carry both policies to protect their company from the high costs of unexpected lawsuits.
Learn more about the differences between general liability and professional liability insurance.
Get insurance for your business with Insureon
Complete Insureon’s easy online application today to compare insurance quotes from leading insurance companies. You can also consult with an insurance agent on your business insurance needs. Once you find the right policy for your small business, you can begin coverage in less than 24 hours.
