General Liability vs Professional Liability

What is General Liability Insurance?

General Liability Insurance is usually purchased in order to protect the insured from claims from bodily injury, personal injury, advertising injury, or property damage. General Liability focuses on physical damage to a person or property. If a business’s corporate headquarters was damaged, general liability would help cover the costs to fix the building, however, if expenditures were loss due to business interruption, it would fall under Professional Liability.

What is Professional Liability Insurance?

Professional Liability Insurance on the other hand protects the insured from claims made against damage that usually falls under financial loss through negligence, malpractice, or errors and omissions from the professional advice or services offered.  A policy may help cover the costs of business interruption from a claim, however, will not cover physical alteration to the business itself, such as to its building.

Find Out What is Best for You and Your Company

It is important for certain professions or businesses to purchase both General Liability Insurance and Professional Liability Insurance to fully protect themselves from claims that could arise from clients. Doing thorough and proper research about general liability vs professional liability and what type of protection you or your business really needs is important in figuring out whether to buy general liability insurance, professional liability insurance, or both.

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