General liability insurance: definition, example, and why it matters
Required by most commercial customers and many residential. Typical policy: $1M per occurrence, $2M aggregate. Annual cost: $500–$2,000 for a small trade.
Short definition. Insurance covering claims for bodily injury and property damage you cause to others.
Category. General liability insurance is a legal term used by service businesses when billing customers.
How Glo Invoice handles it. Glo Invoice builds general liability insurance into the invoice itself, so you don't track it on paper or in a spreadsheet.
Frequently asked questions
What does general liability insurance mean?
Required by most commercial customers and many residential. Typical policy: $1M per occurrence, $2M aggregate. Annual cost: $500–$2,000 for a small trade.
Related terms
Indemnification clause — A contract term shifting financial responsibility for certain risks to the other party.
