While searching for insurance for your company, you may have run into questions about the differences between general liability insurance and public liability insurance. Although the two have some connections, here are the essential distinctions between them you need to know about.
With General Liability Coverage, You Gain Broad But Not Total Protection
As the name of the insurance type might suggest, general liability usually provides a company with fairly broad protections, but not total coverage for every scenario. Additionally, a general policy is legally required for companies operating in certain localities. The following items often fall under a general policy:
- Workplace injuries
- Faulty product
- Certain legal costs
A Public Liability Policy Protects Against Public Losses on Your Company’s Premises
A public liability policy adds an extra layer of business protections in that it gives you insurance in case a member of the public incurs some type of a loss on your company’s grounds. In other words, this insurance type can help your business against lawsuits by those entering your premises who are hurt or otherwise damaged while there.
Shopping for insurance can be confusing, but making sure you have the coverage your business requires is of prime importance. With these distinctions in mind, you can navigate general versus public liability insurance with ease.