General Liability Insurance

What is General Liability Insurance?

Every business faces claim situations and the only way to protect your business and personal assets is to have a commercial general liability insurance policy. This business liability is the biggest defense against most common claims. This is not to be confused with property insurance, which insures owned property for its damage or theft, but for damage to property that’s not owned by your business. A liability insurance policy allows you to stay in business operations while your insurance company defends you for the claim. The Commercial General Liability insurance coverage is most basic of business insurance policies, this insurance policy can cover you for claims for; Bodily Injury, Property Damage, Personal Injury (including libel and/or slander), and Advertising Injury. The Commercial Liability policy will cover your for claims even if they are fraudulent. The business liability insurance policy protects your business for financial loss from claims cause by you or your employees.

A commercial liability insurance policy includes coverage for the following; Operations & Premises Liability - coverage for damages sustained by others as a result of your operations or at your premises. Personal & Advertising Injury - insures you for offenses you or your employees commit such as libel, slander, copyright infringement, or disparagement. Damage to Premises Rented to You - coverage for claims of damage due to a covered loss caused by your damaging property you rent. Medical Expenses - pays medical costs if a third party is injured and needs medical attention due to an accident at your property - regardless of fault. Defense Costs - pays legal expenses for claims made against your business regardless of who is at fault. This coverage can cover you for claims arising out of: Injury or death of spectators, Injury or death of volunteers, Property damage liability, Incidental medical accidents, All activities necessary to conduct of event, Ownership use or maintenance of arena or event areas, General negligence claims, Cost of investigation and defense of claims, even if groundless.

 

participant accident coverage

 This is a special policy form which can be included that will insure all participants while training at your center as well as at any events. This is a much needed coverage for your martial arts insurance package as this is what will insure your students should they get hurt while at your school.

 

Other Coverages

 The other coverages you may need for your business is Auto Insurance if you have a business vehicle as well as Workers Compensation. Workers Compensation is coverage for your employees should they get hurt while working. This coverage can include the owners of the business and will include all employees.

Another needed coverage would be property insurance. This will cover your owned property inside you center.