Frederick Maryland Business Insurance Agency

If you own a business in Maryland, general liability (also referred to as commercial liability) insurance is essential to provide protection for lawsuits resulting from injuries to third parties that are caused by your business. At Balderson Insurance, we are business insurance experts working with several of the leading insurers in Maryland to find the right commercial liability policy to fit your needs and budget. Are you looking for business insurance in Frederick Maryland? Contact us today at (301) 874-0772 for information and a free quote.

What Does General Liability Insurance Cover?

Commercial liability insurance is business insurance that provides general protection for your company or professional practice against liability claims from third parties. A general liability policy covers the costs to defend/settle claims against your business in a number of areas, including:

• Bodily Injury: Commercial liability covers the cost of medical expenses, loss of services, and restitution (in the event of a death) for physical injuries to others that are the fault of your business.

• Property Damage: If you or an employee of your business causes damage to someone else’s property, the policy may compensate up to the value of the damaged property as well as loss of use.

• Product/Service Use Injury: If others are injured as a result of your company’s completed products/services, general liability would compensate for damages as well as legal bills (up to the limits of the policy).

• Personal Injury: The majority of commercial liability policies provide coverage for when you are accused of slander, libel, false arrest, malicious prosecution, wrongful eviction, advertising injury, and most other types of personal injury.
• Contractual Liability: If you enter into a contract with another party (such as a commercial property lease), the policy covers the liability you assume as a result of the contract.

It is important to note that general liability insurance does not replace certain specialty policies, such as errors and omission insurance and several others.

Which Businesses need General Liability Insurance?

In the litigious society we live in today, most Maryland business owners should consider a general liability policy. However, the following categories have a greater need for this type of insurance:

• Business owners with a large amount of personal assets at risk.
• Business owners that are required to carry general liability insurance by their clients (or investors) as a condition of doing business.
• Business owners that are required to carry commercial liability insurance in order to gain membership into a trade group.
• Businesses that operate in industries with a risk of lawsuits.

If you are a business owner in need of business insurance in Maryland, contact us today and let us shop for you to find the right policy to meet your needs.