General Liability Insurance Illinois

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General Liability Insurance Illinois

General liability insurance protects businesses against financial damages that most commonly occur in the scope of business operations.

This means that if you want to get a policy for your business in Illinois, you should first get a comprehensive background of the state insurance-wise.

As of 2020, Illinois is home to about 1.2 million small businesses, which consists of about 99.6% of all businesses in the Prairie State.

This means that there are about 2.5 million employees that work for these small businesses, which makes up about 45.1% of all employees in the state.

With such a healthy and thriving commercial environment, general liability is all the more important, even though general liability insurance is not required by law.

Furthermore, Illinois has also been the epicenter of a landmark Supreme Court ruling about the coverage of general business insurance.

West Bend Mut. Ins. Co. v. Krishna Schaumburg Tan, Inc. saw the Supreme Court officially including the Illinois Biometric Information Privacy Act (BIPA) under insurers’ general liability policies in 2020. With this, insurers will now have to cover businesses that haphazardly distribute or profit from biometrics to third parties.

Who Needs General Liability Insurance in Illinois?

Small businesses are particularly abundant in the Prairie State, and everyone should have some degree of general liability protection.

This is especially true for manufacturers, food service establishments, professional consultants, and any business that gathers biometrics information as well.

What Does General Liability Insurance in Illinois Cover?

General liability policy insurance in Illinois follows the standard GL coverages across the US. This includes:

• Physical harms
• Personal injury (including violations to privacy)
• Property damage
• Legal costs and investigations
• Reputational harm
• Medical costs, and more.

Requirements for General Liability Insurance in Illinois

General liability insurance is not required for businesses in Illinois, however, it is strongly advised that you do so.

The requirements for your specific policy may vary depending on your business and specific city, so it’s strongly advised that you do a consultation with insurance experts for your business.

Luckily, consulting with Magnum Insurance is quick and hassle-free. Contact us now if you want to know which requirements you have to comply with to get general liability insurance for your Illinois business.

Getting General Liability Insurance in Illinois with Magnum Insurance

In Illinois, general liability insurance can be a tricky topic to consider, especially since requirements can vary between businesses.

However, it’s always a good idea to know exactly what it means for you and your business to get general liability insurance.

Here at Magnum Insurance, we care about providing you with the most suitable general liability insurance in Illinois. Contact us today to get a quote!