General Liability Insurance in Louisiana
General Liability Insurance is also known as commercial liability insurance and covers general liability of the business. It is a standard insurance policy issued to business organizations to protect them against liability claims for bodily injury and property damage arising out of premises, operations, products, and completed operations; and advertising and personal injury liability. As a broad coverage policy, it is a smart move to have a general liability insurance policy in place. In addition to the general liability insurance policy, there are enhancements that you can add to a business policy such as:
- Directors and Officers Insurance – D&O covers directors and officers of a company for negligent acts or omissions and for misleading statements that result in lawsuits against the company. There is a variety of Directors and Officers coverage available such as corporate reimbursement coverage, personal liability, and entity coverage. D&O policies may be broadened to include coverage for employment practices liability as well.
- Employee Practices Liability Insurance (EPLI) – Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. We recommend you consider this type of coverage if you have employees.
- Professional Liability Insurance (Errors and Omissions) – Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies. Dupre Carrier Godchaux Agency, Inc. recommends that all professional and technology companies have E&O coverage.
General Liability Insurance for Contractors
How General Liability Insurance Protects Construction and Contracting Businesses
Contractors have many options for insurance needs and it is up to you to decide what is best for your business. We understand you might only need general liability insurance – not a business owners policy or BOP. Contractors benefit from General Liability Insurance in three ways:
General Liability coverage protects your business assets. If a third party alleges bodily harm, injury, or property damage, and you don’t have General Liability coverage, your contracting or construction business assets could be seized to pay the judgment.
General Liability Insurance offers a survival plan. This coverage ensures your contracting or construction business can survive if a judgment is passed, and cover court costs and settlements up to the specified policy limits.
General Liability gives your contracting or construction business and your employees security. With this coverage, you can carry out daily work knowing you and your employees are protected from uncertainty. General Liability coverage protects your business against claims brought against the company as a whole, as well as claims brought against individuals employed by the company.
We cover tradesman such as:
- Plumbers
- Electricians
- Landscapers
- Roofers
- Asphalt companies
And many more.
To find out more about these, as well as other products and services, call Dupre Carrier Godchaux Agency, Inc. at (800) 960-2200 and we’ll help make sure you’re properly covered with a General Liability Insurance Policy.
Frequently Asked Questions about General Liability Insurance
Who needs general liability insurance?
Most businesses should carry a general liability insurance policy to protect them from the various types of lawsuits regarding injury as well as to cover attorney’s fees.
Do all businesses need a general liability insurance policy?
If you are in business, you should carry a general liability insurance policy. There are few businesses that would not need it, but in general, it is a good idea.
How much does general liability insurance cost?
The cost of general liability insurance varies on the type of business you are in, how many employees you have and other business specifics. To get an accurate idea of what the cost of general liability insurance is, contact an agent in our office for a quote.