General Liability covers a wide range of incidents
Slip-and-fall injuries
Someone trips at your business, breaks their leg and files a lawsuit. Excluding employees.
Property damage
You accidentally damage a client or customer’s property.
Advertising injury
You’re sued for improper image use in your advertising.
Legal fees & defense costs
You need an attorney to defend your business in a lawsuit after a claim.
What is General Liability insurance coverage?
General liability insurance can help protect Colorado small businesses from financial losses related to common accidents, such as:
- Slip-and-fall injuries
- Other injuries related to your business, excluding employees
- Damage to someone else’s property
- Accusations of libel, slander or copyright infringement
This insurance is sometimes called commercial general liability (CGL).
There are numerous scenarios where general liability insurance can help different types of businesses in Colorado. For example:
- A Denver general contractor accidentally breaks a custom window while carrying materials through a client’s foyer. General liability coverage can help pay for a replacement.
- A customer slips and falls in the parking lot of an Aspen restaurant. General liability insurance can help cover legal fees and damages if the business is found liable.
Your Colorado general liability insurance policy can help cover costs associated with these and other types of incidents related to your business, including accusations of slander or libel.
Is General Liability insurance required in Colorado?
Colorado state law does not require general liability insurance for small businesses.
However, local jurisdictions, including cities and counties in Colorado, may have their own general liability requirements depending on the type of work you do.
Even where it’s not required, there are several benefits to having commercial general liability insurance. Colorado entrepreneurs often get this coverage for the following reasons:
Financial protection
Colorado small businesses could be better protected financially if an accident occurs or if they face accusations of slander or libel. Additionally, many lenders and banks require this type of Colorado business insurance.
Work contracts
Depending on your industry, you may have clients who require a certificate of insurance before agreeing to work with you. Without general liability insurance, you may lose out on potential jobs.
Lease agreement
Commercial property leases in Colorado might require proof of general liability insurance. Property owners or management companies may refuse to rent to you without this coverage.
Licenses and permits
Depending on your industry, you may need general liability insurance to get a Colorado business license or permit.
For example, nearly every county in Colorado requires general contractors to have a policy with at least a $100,000 limit.
Colorado contractor general liability insurance is also necessary to obtain your contractor’s license in much of the state.
See our Colorado general contractor license and insurance requirements guide for more details.
What types of businesses might need General Liability in Colorado?
Most businesses in Colorado can benefit from commercial general liability insurance since it covers common risks for many different industries.
Even for seemingly low-risk lines of work, general liability insurance can help protect your business. Accidental injuries and property damage can happen in any office environment or small retail space.
If a customer slips and falls on a wet floor in your Fort Collins hardware store, for example, general liability insurance can help cover related costs.
How much does General Liability insurance cost in Colorado?
General liability insurance costs in Colorado vary based on the type of work you do and where your business operates. The number of people you employ, your past insurance claims and the policy limits you choose will also influence your insurance premiums.
NEXT offers affordable general liability insurance to Colorado business owners. In fact, 50% of our U.S. customers pay $45 or less per month for their general liability policy.**
Learn more about general liability insurance costs.
How NEXT Insurance helps Colorado businesses
NEXT provides Colorado general liability insurance policies designed for small businesses and self-employed workers.
It only takes about 10 minutes to get a quote, review your coverage options, choose your policies and download a certificate of insurance.
Start an instant quote online today.
Our team of licensed insurance advisors is standing by to assist you if you have any questions along the way.
Other types of Colorado business insurance
All companies in Colorado with one or more employees are required by law to carry workers’ compensation insurance. This insurance helps cover medical expenses, lost wages and other benefits if a worker gets injured on the job.
Learn more about workers’ compensation.
Commercial auto insurance can help cover medical expenses, property damage, towing and rental reimbursement if you or one of your employees gets into an accident while driving a work vehicle.
Colorado requires commercial auto insurance coverage for all company-owned vehicles. The minimum limits of liability required by the state are $25,000 per person, $50,000 per accident and $15,000 for property damage.1
Learn more about commercial auto.
Commercial property insurance can help protect the physical assets needed to operate your business, including equipment, inventory, furniture and brick-and-mortar structures. This insurance can help cover replacement or repair costs if your business is affected by a covered event, such as damage from a burst pipe or a fire.
Learn more about commercial property insurance.
Professional liability insurance, sometimes known as errors and omissions (E&O), can help protect you financially if a client or customer accuses you of professional negligence. This type of insurance is commonly bundled with small business general liability insurance.
Learn more about professional liability.
Get customized insurance wherever you do business
Learn more about insurance options in the states where you work.
See what our customers have to say about NEXT
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2/14/2023
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Business insurance is divided into different policies. We offer seven types so it's easy to design the coverage that fits your business.
