Hunter Nelson explains general liability insurance, the broad coverage businesses need in contracts. It protects against injuries, property damage, product liability, and lawsuits, covering eight main areas of risk across operations.
First, we'll start with general liability. You guys are going to see general liability be required in contracts. People are going to say you guys should get business insurance. They're typically referring to general liability when they don't know the name of it. General liability is general business coverage. It covers your operations. There's 8 different coverages involved with it: completed operations, advertising, and personal injury. You've got products, you've got bodily injury, property damage, etc., etc. All of it's insurance jargon. It's going to cover people getting hurt, you damaging their property, getting sued for your products or your guys' projects, anything along those lines. But that could really be a broad scope of things.
