General Liability Insurance

Fundamental protection for your startup

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When is this useful?
After hitting that revenue milestone you’ve been dreaming of, you throw a party for the entire team. During the party, one of your guests slips and falls. What do you do about the medical bills – or even a potential lawsuit? 

General liability insurance protects you from claims related to incidents involving property damage or physical injuries, occurring at the workplace or related to your product.

General liability insurance

General Liability Insurance protects your business from financial loss resulting from incidents bodily injury, property damage, or personal and advertising injury caused by your business operations or products. In the world of business, where unpredictability is the only constant, General Liability Insurance is your safeguard against such unforeseen risks.

Why do you need general liability insurance?

Accident Coverage
Covers costs of bodily injury or property damage to third parties
Legal Defense
Handles legal expenses associated with covered claims
Financial Protection
Shields your business from potentially crippling liabilities that can drain your resources/reserves
Client Requirement
Meets contractual obligations set by potential clients especially MNCs
Business Reputation
Protects your company against the cost of third-party claims
Peace of Mind
Provides comfort in knowing your business is protected

What does general liability insurance cover?

Bodily Injury
Covers costs related to third-party injuries caused by your business
Property Damage
Provides protection for property damage claims
Medical Payments
Handles immediate medical expenses related to injuries that occur at your place of business
Legal Costs
Covers legal costs, judgments, and out-of-court settlements
Personal Injury
Addresses non-physical injuries such as libel, slander, and privacy invasion
Advertising Injury
Covers claims of copyright infringement in your advertisements
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Who should buy general liability insurance?

New startups
General Liability Insurance protects startups from potential financial burdens caused by accidents, injuries, or property damage. All startups, irrespective of sector, must have a general liability insurance protection. It protects them from financial repercussions arising from accidents, injuries, or property damage – all of which are quite common at work.
Growth Stage
As your organisation grows, the risk of third party liability also increases simultaneously, hence a General Liability Insurance provides broader protection as you grow. Some clients would even consider adding this insurance cover as a mandatory document to commence any new business.
Large Entities
Large businesses are more visible targets for liability claims. A robust General Liability Insurance policy is crucial for financial stability and maintaining a positive reputation.
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How is D&O liability insurance cover better with Plum?

Risk mitigation
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Adequate evaluation
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Legal compliance
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Regulatory investigation
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Builds reputation
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.
Financial coverage
Your company and board is protected for liabilities that can arise from unforseen wrongful acts.

Frequently asked questions

Why do I need business insurance?

Business insurance is essential because it safeguards your business from unforeseen financial risks. It can help cover the costs of property damage, liability claims, legal fees, and other expenses that could otherwise affect your business.

How much does business insurance cost?

The cost of business insurance depends on many factors, including the size of the business, the industry, the location and the coverage limits. Check out our recommendation engine to receive policies tailored to your business with estimated costs.

What does business insurance cover?

The coverage provided by business insurance depends on the type of policy you purchase. Common coverage areas include property damage, liability claims, shareholder lawsuits and data breaches.

Do companies belonging to specific industries particularly need business insurance?

Every business faces unique risks and liabilities, regardless of industry.

It would be prudent to reach out to your insurance provider for a clear picture of the risks typically faced by businesses like yourself and how to mitigate such risks. Book a meeting with a Plum insurance expert here.

Why should I choose Plum for Business Insurance?

  1. Provides one-touch access to trusted insurers and cost-effective plans.
  2. Connect with insurance experts for regular check-ins and advisory support
  3. Brings the expertise and leverage with insurance companies for high-value claims