the hi my name's Tim gaspard gaspard church services we insure small and midsize businesses and handle their insurance needs today I'm going to talk a little bit about general liability insurance what exactly it is and how much you need is a business owner having general liability insurance is the absolute basis have any insurance I would say if you could only afford to have one insurance I think for most businesses general liability would be the insurance they would get is the absolute foundation to having your business insurance in place essentially general liability insurance as a protection and you have in the event you're responsible your business is responsible for causing damage to a person or to property in this can happen in a number of different ways one the most common is when a vehicle accident let's say wanted your company trucks get into an accident hit somebody damage their car and let's say they get injured if they file a lawsuit against you that's covered and your general liability insurance along same lines let's say your manufacturing a product of some kind let's say for instance here pistachio distributor if you distribute pistachios and the people that eat them and getting sick let's say you could soon a class action lawsuit for your product hurting somebody that also falls under general liability insurance so as you can see it can cover a few different scenarios that can be extremely important in protecting your business in the event a lawsuit like this occurs now when it comes to how much general liability insurance you need there's a couple things that can dictate exactly how much coverage you wanna get from most people special you're first starting out in business usually this is going to be dictated by your landlord or the vendors that you do business with when you move into a new place whether be in office a retail store warehouse generally speaking your landlord's going to ask for at least one million dollars per occurrence and two million dollars aggregate just to get started and what those limits mean is that any single lawsuit or claim that you file you're going to have one million dollars with the coverage for that single courage that happens if you're unlucky enough to have two occurrences within a single year or more the policy's going to cap out at the aggregate another keeping you want to look at when in regards to how much insurance you get is how much your vendors want you to have let's say you're a clothing distributor if you do business with the clothing stores across a Nordstroms for instance they might require you to have four five million dollars in general liability insurance because they want to make sure they're protected in the event something wrong happens with your product so even if you're a small business unless they don't have a whole lotta bass says you might have to get a lot of coverage just to make the people you do business with satisfied with the type of insurance that have now also in regards to figuring out how much general liability insurance you should have certainly the limit on your insurance should grow as your business grows I'm same gas par with gas fire insurance for business dot com making sure that you have the right business insurance coverage for the right price way