![]() At first, I assumed I didn't need general liability coverage. I decided to pay for it in full because I wouldn't get dinged with installment payment service fees. My premium was $250 a year, which is a little over $20 a month. And it's capped at $2 million total for product coverage. My coverage includes up to $1 million per occurrence, up to $1 million per occurrence should I damage a rented space, and up to $5,000 in medical expenses per person.įor my particular policy, coverage is capped at $2 million overall for the policy period, which is a year. See Insider's picks for the best disability insurance companies » I got more coverage than I anticipate needingĪfter shopping around online and getting quotes from a few major companies that offered commercial insurance policies, I decided on a policy from Chubb. General liability can help provide financial protection should I get accused of slander, libel, or copyright infringement in any promotional efforts and platforms, like through my website, social media channels, or digital marketing campaigns.Īs a solopreneur, getting hit with a medical bill or lawsuit or being on the hook to cover an expensive repair could really be significant for my business of one. I'm also planning to launch some products next year: a book to help freelancers with their finances and an Etsy shop selling stickers. Or if I accidentally damage, say, a wall while hanging a signage or decorations during my event, it can pay for these damages. Should I host in-person workshops or events, general liability insurance can cover medical or legal bills if someone gets hurt during an event. While I'm largely a freelance writer, I also do financial coaching for artists and freelancing creatives. It can help protect my business future needs You can recoup financial losses from lawsuits or defective products.Īdvertising injury: If you get sued for libel, slander, or copyright infringement as it's linked to your marketing and promotional efforts for services and products you offer, general liability coverage can help. For instance, that could be because the product is defective, or there's a mistake on the label that caused harm or was misleading. Product liability: If you make and sell products, should they cause someone harm or damage a customer, general liability coverage can protect you. In that case, general liability coverage can help pay to repair or replace someone else's damaged items or property. You damage the walls or accidentally break some of their stuff. ![]() Property damage: Let's say you're setting up in a venue or are doing work on someone else's property. Or if someone slaps a lawsuit against you for these injuries, insurance can pay for legal costs. If someone accidentally slips and falls or gets injured on site, general liability can cover medical bills. General liability insurance can protect against these events:īodily injury: Suppose you host an event or have a brick-or-mortar store. Upon doing my research, I learned that it covered more than I thought. On the other hand, general liability is a type of commercial insurance that pretty much any business can use. Professional liability insurance is geared toward people who provide services.
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