General liability is one of the most common types of commercial insurance policies. It protects you against claims that arise out of your business operations, like product defects or premises liability. General liability also covers you for the death or injury of an employee. But what does this all mean? And what are these general liability class codes?
This blog post will answer these questions and more to help you better understand general liability class codes.
What is general liability coverage?
General liability coverage is a type of commercial insurance policy that protects your business against claims that arise out of your business operations. It covers all types of general liability, like product defects or premises liability. In addition, general liability covers you for the death or injury of an employee.
But what does this all mean? And what are these general liability class codes? This blog post will answer these questions and more to help you better understand general liability class codes.
General Liability Class Codes
General liability is one of the most common types of commercial insurance policies. It protects you against claims that arise out of your business operations, like product defects or premises liability. General liability also covers you for the death or injury of an employee. But what does this all mean? And what are these general liability class codes?
This blog post will answer these questions and more to help you better understand general liability class codes.
How do I know if I need general liability insurance?
General liability insurance is a commercial policy that protects your business from lawsuits. It covers you for the death or injury of an employee, for property damage to your own product or premises, and for injuries sustained on your job site.
It’s easy to think that general liability insurance is only for larger companies. However, there are many smaller businesses out there with employees and operations that need a commercial general liability insurance policy.
You don’t have to be big to be covered by general liability policy. If you’re not sure whether you need it, talk to your agent about how your business could use it.
Types of General Liability Coverage
General liability insurance provides protection for bodily injury and property damage arising out of the operation of your business. It also provides protection for death or injury to one or more employees.
There are two basic types of general liability policies: “named perils” and “all risks.” The former covers you only if a particular type of risk—say, premises liability—occurs. The latter covers all risks that are “reasonably anticipated.”
The class codes associated with each type will vary depending on your insurance company, so it’s best to consult with your agent. For example, a commercial auto policy may have the following class codes:
- X000006 – General Liability Commercial Auto
- X000522 – Automobile Liability
Types of General Liability Class Codes
General liability class codes identify the type of claim being covered by your general liability policy.
The two most common general liability class codes are A and B. Class code A is for claims that arise from a risk you created, like product defects or premises liability. Class code B is for claims that arise from your business operations, like wrongful acts or contract violations. You can find a list of all general liability class codes online by searching “general liability class codes.”
Having an understanding of these different types of claims will help you understand how much coverage you have depending on what type of claim is brought against you.
Conclusion
General liability insurance is a standard insurance policy that protects you and your company against legal claims. This type of insurance covers legal damages incurred with no fault of the owner, such as bodily injury, property damage, wrongful death, and defamation. General Liability is the standard insurance policy for businesses and covers many different types of losses and events. General Liability Class Codes are a numeric classification that represents the severity of a risk.
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