Liability insurance (also known as casualty insurance) refers to coverage for injury to another person or damage to a person's property for which you are legally responsible. General liability is a standard element of most business owner's policies.

General liability insurance will cover your business in case of bodily injury to someone or damage to someone's property that occurs on your premises. For example, this type of insurance would cover you should a client trip over a loose phone cord in your conference room and break an arm. Similarly, if you were to accidentally knock over and break an expensive antique at a client's premises, your general liability policy would reimburse the client for the damaged property.

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