General Liability Insurance
for Insurance Agents and Agencies

Insurance agents understand the importance of calculating risks when growing their businesses. After all, much of your industry is built on this principle. But even though you enjoy a relatively low risk of third-party injuries and property damage, your insurance agency could still face liability claims so long as your doors are open to the public. And your experience offering life insurance, property insurance, or claim adjusting services to your clients only solidifies your knowledge that accidents can happen at any time to anyone. So if, for example, a client visits your office and they are injured, your business could be hit with a third-party liability suit.

Insurance professionals and brokers rely on their General Liability Insurance (GLI) to protect against such a scenario. This policy offers your business a financial safeguard for some of the most common claims you may face, including damage to others' property or bodily injuries a third party incurs. If the disgruntled party sues your business, the coverage provides legal funds for your business's defense and the resulting settlement costs if your company is found liable.

Keep reading for more information about General Liability Insurance and how it protects your business.

General Liability Insurance: Protection for Insurance Agents

General Liability Insurance: Protection for Insurance Agents

Any business built on serving clients opens up risk exposures. Even in the insulated world of an office environment, accidents can happen. If an especially litigious person were injured on your property, your business would have to pay for an expensive court trial out of pocket if you don't have the appropriate coverage. That's why most insurance agents protect themselves with General Liability Insurance.

General Liability Insurance for insurance professionals covers damage to property and injury to people. Should a client drop by your office, slip on your rain-slicked floors, and break a bone, their injury could become your financial responsibility. If your business ever needs to handle client property, your General Liability policy can account for any damage that occurs while it is in your care.

Your GLI policy extends to cover the actions of your staff as well. Because fluke accidents and mishaps happen all the time and without warning, this coverage gives you the peace of mind that whatever happens, your business will have the funds to survive an otherwise costly liability claim. If someone sues your business for physical damages or needs immediate medical attention due to their injury at your business, your policy provides legal fees, medical expenses, and more, depending on your limits.

General Liability Policies for Insurance Businesses: Key Details

General Liability Policies for Insurance Businesses: Key Details

Whether you specialize in life insurance, health insurance, or claims adjusting, your agency only stands to benefit from a policy that protects against expensive liability claims and unpredictable accidents. Keep reading to lean more about the three coverage areas your General Liability policy offers.

Protection from Bodily Injury Claims

Even for businesses with a relatively low risk profile benefit from the foundational coverage that General Liability provides. If an unexpected injury happens to a third party on your business premises, the costs add up quickly, and most small business owners don't have the expenses to spare for a costly, drawn out court battle. Even with safety measures and warning signs in place ("watch your step!" notifications may only go so far in a court of law), accidents still happen and can escalate into liability lawsuits.

If someone sues your business for bodily damage, your policy kicks in to cover the cost of defending your firm or agency in court. This typically includes lawyer fees, court-ordered settlements or judgments, bond premiums, medical expenses, and more, depending on your policy limits. Meritless or frivolous lawsuits can also be covered by GLI.

In extreme cases where a third party's injury results in death, your General Liability policy can also pay for medical costs, funeral expenses, and court-awarded compensation. If one of your employees is injured while on the job, however, they will not be covered by this policy. For that protection, you'll want to look into purchasing Workers' Compensation Insurance.

Security Against Property Damage Claims

Should your insurance agency ever handle client property or rent equipment to carry out business operations, your General Liability policy can protect against damage or loss you may cause while those items are in your care. If the client sues your business for property damage, your coverage would pay for the costs of a covered claim, up to the limits of your policy.

Compensation for Personal and Advertising Injury Claims

For insurance agents who advertise their services, you also benefit from the personal and advertising injury portion of your General Liability policy. This coverage provides funds to defend your business against allegations of non-physical damages to another person or entity (e.g. copyright and brand infringement, libel, or slander).

Manage Your Insurance Agency Business Risks

Manage Your Insurance Agency Business Risks

When you're ready to give your business the same protection you offer your clients, a comprehensive business insurance plan is just a few clicks away. Our expert agents at insureon know the risks you face and can tailor a policy that fits your company. If you're ready to get started, complete our all-online application, and depending on your needs, we may be able to take you from quote to bind in less than 24 hours.

Grab-n-Go Information

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