General liability insurance, otherwise known as business liability insurance or commercial general liability insurance, is a great product to invest in for business operators of all types. As an insurance producer, you have the opportunity to expand your client base by detailing what general liability is and why your potential clients or existing customers should use this coverage. Prime Insurance Company is pleased to offer general liability insurance specifically designed to meet your clients’ needs.
Insurance producers know the ins and outs of various insurance product lines but for clients, the details of products like general liability insurance can be murky, especially when it comes to the advantages of investing in excess or surplus insurance products. You can potentially gain a new client if you can explain to customers:
- what general liability insurance is
- how it differs from any other insurance they may have in place
- what advantages it offers
Here are the main features and benefits of general liability insurance you can use to bring your clients on board and up to speed.
What is General Liability Insurance?
General liability insurance covers insureds on claims related to regular business operations. It does not matter if they’re running a small business, working as a contractor, or a consultant — if it has to do with risk in the course of normal business operations, general liability insurance is a viable form of protection.
Claims covered under general liability insurance include:
- third-party bodily injuries and other physical injuries
- any resulting medical payments or defense costs
- personal and advertising injury stemming from a libel or slander lawsuit.
Your clients need to know that general liability insurance may not be all that they need in terms of liability coverage. Professional services, transportation, and riskier activities may call for added insurance, which we can also provide.
The Benefits of General Liability Insurance
Liability is what the company is responsible for when it comes to third-party damages. Your business operator clients are exposed to liability through the course of doing their work even if they’re doing it carefully to mitigate risk. Lawsuits happen all the time, and the greatest benefit of general liability insurance is its protection from financial ruin. As noted above, general liability insurance covers defense costs, which can be staggering, especially for small businesses.
Companies possessing general liability insurance are also in a better position to build their business. A lot of contracts, trade shows, and similar business-boosting situations require an organization to have general liability insurance in place. Instead of having to scramble to secure that insurance in advance of a deal, your clients can move forward with their goals, knowing that their insurance is ready to go.
It also shows that the business is responsible and trustworthy. That is not the main reason to buy general liability insurance, of course, but the reputation boost is always a bonus. It also shows that the company is willing to do what it takes to protect itself and its clients, an important consideration, especially when trying to stand out from the competition. Business owners should know that their business loss runs, or claims history, is an important factor in acquiring insurance.
Investing in general liability insurance is a wise, proactive choice for any business, setting up safeguards against devastating liability suits while promoting the company as one that cares about risk and what that risk means. Communicating this to your clients will, ideally, result in an interest in a general liability insurance quote. That’s where we come in.
Partnering with Prime Insurance Company for General Liability Insurance
When you partner with Prime Insurance Company, you write more business. Instead of competing with your current markets, we work to write the business that they will not, expanding what you can offer to your clients instead of overtaking what you already have in place. When your market has exceptions, we are the backstop, providing coverage where it is direly needed. Our general liability insurance allows you to broaden the scope of your offering and be more flexible. At the same time, we keep business in your corner instead of sending potential clients to a competitor.
High-risk clients and businesses do not receive an automatic no from us. Considering every situation individually, we offer solutions, every day, on many risk classes, and are committed to providing coverage whenever and wherever we can. We provide options where others say no or scratch their heads. Our claims services are fair and fast.
It is easy to get a quote from us for general liability insurance. Simply use our online form, and we will get back to you about our specialty customized coverage. You can also give us a call at 800-257-5590 or contact us at quotes@primeis.com. Check out our Facebook, LinkedIn, Twitter, YouTube, and Instagram to stay up to date with all we can offer you.
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Authored by Rick J. Lindsey, CEO, President, and Chairman of Prime Insurance Company
Rick J. Lindsey hails from Salt Lake City, Utah. He began working in the mailroom of his father’s Salt Lake City insurance firm, getting his introduction to the business that became his lifelong career. Lindsey quickly rose through the ranks while working in nearly every imaginable insurance industry job. As an entrepreneur, specialty lines underwriter, claims specialist, risk manager, and a licensed surplus lines broker, Rick Lindsey is highly skilled in all levels of leadership and execution. As he progressed on his career path, Rick discovered an urgent need for insurers willing to write policies for high-risk individuals and businesses. He was frequently frustrated that he could not provide the liability protection these entities desperately needed to safeguard their assets. He also formed the belief that insurance companies acted too quickly to settle frivolous claims. Lindsey decided to try a different approach. He started an insurance company and became the newly formed entity’s CEO. This opportunity has enabled Rick to fill a void in the market and provide a valuable service to businesses, individuals, and insurance agents who write high-risk business. Prime Insurance also specializes in helping individuals and businesses who live a lifestyle or participate in activities that make them difficult for traditional carriers to insure. If you’ve been denied, non-renewed, or canceled coverage, don’t give up quite yet. Chances are Prime Insurance can help.
