General Liability Insurance
($1,000,000 limit)

• a customer has a slip and fall accident on your premises and sues you for negligence
• you throw a cigarette in a trash can that starts a fire that causes $100,000 of damage to the landlord's building
• your programming or code that controls a machine malfunctions resulting in bodily injury or property damage to a third party
• you make a disparaging remark about a competitor and you are sued for slander

General Liability Insurance Coverage for Small Business

All tech companies without exception should carry general liability insurance coverage for small business because it is not only needed, but is usually dirt cheap. Typically, a Business Owners policy which includes both General Liability and Property insurance costs $500 for most small tech companies.

The following optional coverages can be added to your policy for an additional premium charge: Non Owned / Hired Auto Liability ($180), Hired Car Physical Damage ($250), and Employee Benefits Errors & Omissions Liability ($300).

The coverages for Non Owned / Hired Auto Liability and Hired Car Physical Damage will be explained in the Business Auto section of this report. Employee Benefits Errors & Omissions provides protection if you make an administrative error that results in an employee not being able to collect on an employee benefit such as Group Health. Example: new employee is never added to the plan or maternity coverage is not added.

Please note that the General Liability coverage does not protect against the types of lawsuits that are covered by a Professional Liability policy (Errors & Omissions). It is absolutely essential that all tech companies carry Professional Liability insurance in addition to General Liability.

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