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General Liability Insurance General liability insurance refers to insurance that is concerned with the claims arising as a result of the liability of the insured for injuries or damages caused by his property or other manufacturing operations. This is an important kind of small business insurance that every small businessman should have. It covers any possible damages caused to visitors and clients visiting the small business unit. It covers damages caused to workers as well. Even a small mishap caused to the visitors may result in filing of lawsuits. This is where the need of the general liability insurance fits in. Liability insurance covers the assets of the small business when they are charged for causing an injury or damage to the visitor's property. This kind of insurance can be purchased separately or along with Business Owner's policy (BOP). A BOP includes both property and liability insurance in one policy. But small businesses that are particular about general liability insurance should purchase it as separate policy. More Glossary Terms Explained here |
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