Are you interested in getting liability insurance? If you are, it’s important that you understand the difference between general liability and professional liability insurance. Knowing this will help you get the liability coverage that is right for you. We at Ingram Insurance, serving the greater Cheraw, SC community, want to help you make the right liability insurance choices.
Here we break down the difference between general liability and professional liability insurance:
General Liability Insurance
To start off, liability insurance covers your company against liability risks. It provides you with protection against claims resulting from situations where you could be held liable.
As for general liability, it covers physical risks.
General liability helps cover:
- Bodily injury claims
- Medical payments
- Property damage
- Reputational harm
- Advertising errors
Therefore, most small business owners will benefit from general liability insurance coverage. It covers the common risks that may occur in business.
Professional Liability Insurance
Professional liability insurance covers you if you’re found liable for the professional services you provide. This includes professional advice and contractual services. In addition, it will cover you against claims of negligence or misconduct.
This includes:
- Negligence
- Bad advice
- Delays
- Errors
- Loss or theft of service
The Main Difference
Basically, the main difference between these two liability coverages comes down to what is covered. While general liability covers physical risks, professional liability covers more abstract risks.
Furthermore, professional liability covers your business from risks not covered by general liability insurance. Therefore, if your business provides contractual services or offers professional advice, you should consider professional liability.
When choosing liability coverage, you need to consider your business services and needs. You want to protect your business in case of liability.
Get The Right Coverage Today
Contact our team of insurance experts at Ingram Insurance in Cheraw, SC to find out more about general liability and professional liability.
