General Liability

The specific limits chosen by a business depend on various factors, including the nature of the business, its size, the perceived risks associated with its operations, and legal requirements. Small businesses might have lower coverage limits compared to larger enterprises.

For example, a common structure for General Liability Insurance might be expressed as a combination of limits, such as $1 million per occurrence, $2 million general aggregate, and $2 million products and completed operations aggregate. This means the insurance would cover up to $1 million for each individual claim, up to $2 million for all covered claims in a policy period (excluding products and completed operations), and up to an additional $2 million for products and completed operations liability claims.

It’s crucial for businesses to carefully review and understand the coverage limits, terms, and conditions of their General Liability Insurance policy to ensure they have adequate protection for their specific risks and liabilities. Businesses with higher risk profiles or greater exposure may need higher coverage limits.