Your business should have general liability insurance coverage, even if it’s not required by state law. As a business owner, you need to protect your assets against any potential claim arising out of your normal course of business.
What does general liability insurance cover?
This type of business insurance covers claims arising from your normal business operations, products, or services.
Insurance will pay for claims arising from bodily injury and damaged business property.
For example, a customer slips and falls at your retail store due to a spill from a leaking product. General liability insurance covers any injuries resulting from this incident. It may also pay for any lost product damaged by the spill and any downtime if your store has to close to clean up the spill.
It’s vital to know ahead of time what your general liability insurance covers before your business begins operations.
Does Missouri require general liability insurance for businesses?
No. Missouri only requires workers’ compensation and business vehicle insurance.
However, many businesses will not partner with you unless you have general liability insurance coverage. Plus, you don’t want your business or personal assets to pay for a claim against your business.
Does general liability insurance cover employee injuries?
No, this is covered by workers’ compensation insurance, which businesses are required to cover by Missouri law.
General liability insurance covers everyone who interacts with your property, services, and/or products except your employees.
How do I claim general liability insurance?
- Fill out a report of the incident as soon as you can, with as many details as possible, following the instructions of your insurance provider and state law.
- Contact your insurance provider. Your provider will tell you what’s covered and what’s not based on your policy.
- Ask questions and get answers. Some frequently asked questions include:
- What are the time limits for filing a claim?
- What information do I need to maintain and collect?
- Is this incident covered?
- When should I expect a follow-up?
- Who else should I contact?
4. Keep detailed records. You will need these records until the claim is resolved and in case the stakeholders require follow-ups. Note any phone calls, emails, discussions, meetings, and conversations regarding the claim, including the time, place, subject, and what was said.
5. Maintain contact with your insurance company. You pay for general liability insurance coverage, and your provider works for you on your behalf. If you have any questions, contact your agent and the customer service representative/adjuster assigned to your claim. These people represent a valuable resource for handling your claim.
Find the Right General Liability Insurance Coverage
Millennium Brokers can help you shop and find the right general liability insurance coverage. It’s important to find a policy that covers your business assets in full. Contact Millennium Brokers or start the process by looking at our quotes.