Commercial General Liability
Commercial General Liability cover is extended to businesses to offer protection in cases of BI (liability claims for bodily injury), PD (property damage), advertising injury, and PI (personal injury) to third parties as a consequence of using your products, operations, services, or visiting your premises.
The cover addresses a wide range of non-professional liability loss exposures, and provides coverage for:
- Bodily injury
- Property damage
- Medical payments
- Personal and advertising injury - protects you from offenses such as slander, libel, false arrest, malicious prosecution, copyright infringement, etc.
For instance, your company may be liable for medical and legal costs, punitive damages, or compensatory benefits in the event that:
- A client slips on a wet/slippery surface and gets injured while visiting your premises
- An employee causes significant damage to a client’s home during/after a job
- A fire starts in your premises and spreads to adjacent businesses in the same building, causing massive damage to third parties
- You face a class action lawsuit following allegations that your advertisements' content was misleading
Why do you need commercial general liability insurance?
With the constant advancements in technology, increasing customer expectations, and growing awareness of consumer rights, more than ever before, companies need to adhere to high standards of quality in their products and deliverables.
In general, if your business works with contractors, vendors, or clients, you will likely need commercial general liability (CGL) coverage to not only protect yourself against financial losses resulting from third-party liability claims, but also qualify for specific industry licensing or contracts with risk-averse clients.Schedule your insurance consultation today
Commercial general liability coverage is extremely important because accidents and third-party liability suits are rather frequent, even for home-based businesses. Without proper insurance cover, these lawsuits can affect your bottom line and ruin your business image or reputation. For assistance with CGL coverage for your business, please contact us today.