General Liability Insurance

General liability insurance (GLI) is also sometimes called business liability insurance or commercial general liability insurance. This kind of liability insurance helps protect your business against claims that it hurt someone or damaged their property. If you didn’t have general liability insurance, you’d have to pay for these claims yourself.

What is general liability insurance?

General liability insurance can help pay for medical bills and lawyer fees if your business is legally responsible for injuries to people or damage to their property.

General liability insurance, which is also called business liability insurance, protects you and your business from “general” claims about injuries to people and damage to property. General liability insurance is something that almost every business needs.

General liability insurance coverage

Most general liability insurance policies cover you and your business if someone gets hurt or their property gets damaged because of your products, services, or business operations. It may also protect you if your landlord sues you for damage to his or her property.

General liability insurance coverage

GLI is something that many small business owners have to protect their businesses. You might be wondering, “What does general liability include?” This insurance protects your business against claims that it:

  • Bodily injuries that your business may have caused. This can include customer slip and falls. Their medical bills can be paid for by their general liability insurance.
  • Accidents happen at work, like when an employee breaks a client’s windows while working at their house. This insurance can help pay for the costs of fixing or replacing the windows.
  • Personal injury, like libel or slander. If your business gets sued, general liability can help pay for its defense costs.

What Does Commercial General Liability (CGL) Insurance Cover?

Commercial general liability (CGL) is a type of insurance policy that covers a business for bodily injury, personal injury, and property damage caused by the business’s operations, products, or injuries that happen on the business’s premises. Commercial general liability is a type of business insurance that is thought to be all-inclusive, even though it doesn’t cover every risk a business could face.

What Does Commercial General Liability (CGL) Insurance Cover?

Example of Commercial General Liability

  • A customer walks into a store where the floors have just been cleaned and polished, making them very slippery. The customer trips and breaks their leg on the floor.
  • One of the people who work for an electrical company goes to a house to fix the wiring and accidentally starts a fire there.
  • Someone sues the business for libel or slander because of an ad that they put out.

How Much Does Commercial General Liability Insurance Cost?

Commercial General Liability Insurance costs will depend on the size of the business being insured, how risky its operations are, and how much coverage it needs. Some insurance companies say that their clients pay between $300 and $600 for a million dollars of insurance coverage. Some people say that their clients could pay up to $1,000.

What Is Not Covered Under Commercial General Liability Insurance?

Most CGL policies don’t cover damage that was done on purpose or that was expected to happen. They also don’t pay for damages caused by people being drunk (in businesses that sell alcohol), pollution, cars or other vehicles, damage to a business’s work, or extra liabilities that the insured might take on. A business that takes on these kinds of risks should buy more insurance to make sure it is fully protected.

Read More : Mesothelioma Law Firm

Who Needs General Liability Insurance?

So that your business is protected, you need to know what general liability coverage means. You might also find that businesses want to make sure you have at least the minimum coverage they need before they’ll hire you. They want to make sure that your business can handle a liability claim and keep doing what they hired you to do. So, they may ask you for a certificate of liability insurance, which is proof that you have insurance.

  • Have a store, office or building that’s open to the public, clients or vendors
  • Handle or work near client property
  • Advertise or create marketing materials for your business
  • Use social media personally or professionally

To learn more about general liability insurance, contact your local agent or call Nationwide at 1-888-490-1549.

Leave a Comment