Commercial General Liability
Commercial general liability insurance protects your business and covers Bodily Injury (BI) and Property Damage (PD) arising from the insured’s premises, operations, products, and completed operations. When damages or lawsuits are filed against you, the general liability insurance covers the investigation and attorney fees as well as settlement and medical expenses in cases of injury. Essentially, commercial general liability insurance coverage is of utmost importance to any business as it can prevent major financial losses.
- Bodily Injury includes the cost of care, the loss of services, and the restitution for any death that results from the injury
- Property Damage covers the physical damage to property of others or the loss of use of that property
- Products-Completed Operations provides liability protection if an injury ever resulted from something your company made or service your company provided
- Personal and Advertising Injury covers certain offenses in connection to the insured’s advertising of goods and services such as libel, slander, false arrest, and copyright infringement.
- Medical Payments covers injuries sustained by a non-employee from an accident that took place at the insured’s premises.
Other special types of commercial general liability such as liquor and foreign Liability can aid in further securing your business.
- Liquor Liability covers damages and injuries in which your business is held legally responsible as a result of serving liquor.
- Foreign Liability protects employees who travel abroad for business in the event of injuries, damages, and lawsuits.
Premium for commercial general liability insurance is largely dependent on the type of business and annual sales amount.