General Liability Insurance-Commercial

Commercial general liability insurance is a comprehensive policy that companies buy to protect themselves in case of debilitating events, such as an illness or injury suffered by an employee or damage to property. Purchasing this policy is the first step businesses take to protect their assets. This safety net is critical in a society in which the number of lawsuits and the value of judgment awards have increased over the years.

The Facts

A general liability insurance policy covers claims of damage and injury caused by the insured during the course of business. This insurance covers four categories: bodily injury, personal injury (which includes libel or slander), property damage, and advertising injury. General liability is usually bundled with other types of insurance. When packaged, the limits for this blanket coverage may be lower than needed. Companies can opt to purchase this insurance as a standalone policy.

What's Covered A general liability insurance policy protects a company and its employees from many types of incidents. This insurance covers bodily injury, property damage, product-completed liability, contractual liability, liquor liability, employer injuries, and damages from fire, lightning and explosion. Medical payments for personal injury, coverage for advertising injury and legal defense costs fits under the umbrella of a general liability insurance policy.

Benefits By having a general liability package, companies can relax knowing that they can conduct business without having to worry unduly if an allegation is brought against them. If a claim is filed against an insured business, their insurance company will conduct a thorough investigation to eliminate any claims that are proven to be unjust. Legal fees, including court costs, are covered under the policy. If the business is found liable and the incident is covered under the policy, their insurance company would pay the award amount up to the coverage limit purchased by the insured.

Considerations When a business purchases liability coverage, an insurance company determines several factors before issuing a premium offer. These factors may include risk, the history of claim filings by the company, the industry in which it conducts business and the size of the workforce. The premium amount is also affected by the amount of coverage a business is seeking. The payment of premiums is the company's requirement for coverage.

Warning Not having comprehensive coverage, like commercial liability insurance, leaves a company unprotected if an incident like an accident or injury occurs. It is wise to research the sufficient amount of coverage for the industry to gauge how much coverage is needed to avoid paying with funds from the company. With the amount awarded in lawsuits skyrocketing in recent years, a judgment against you can be catastrophic to your business.General Liability Insurance

What is Business Liability / Commercial General Liability Insurance?

Commercial General Liability Insurance Protects Your Business From Common Liabilities.

Your business faces liabilities every day. The only way to protect your assets is to carry adequate business liability insurance. A Commercial General Liability (CGL) insurance policy is the first line of defense against many common claims.

General Liability insurance covers claims of bodily injury or other physical injury or property damage. It is frequently offered in a package with Property insurance to protect your business against incidents that may occur on your premises or at other covered locations where you normally conduct business. Commercial General Liability enables your business to continue operations while it faces real or fraudulent claims of certain types of negligence or wrongdoing.

Commercial General Liability - The Most Basic Form of Business Insurance

If you have only one form of business insurance, it is most likely Commercial General Liability. CGL policies cover claims in four basic categories of business liability:

Bodily Injury

Property Damage

Personal Injury (including slander or libel)

Advertising Injury

In addition to covering the claims listed above, Commercial General Liability policies also cover the cost to defend or settle claims - even if the claims are fraudulent.

Business Liability insurance protects your business against financial loss resulting from claims of injury or damage caused to others by you or your employees.

(Some coverage may not be available on all policies or in all states.)

Automatic Additional Insured. Coverage is automatically provided when required in a written contract, agreement or permit.

Personal and Advertising Injury. Covers you for certain offenses you or your employees commit in the course of your business, such as libel, slander, disparagement, or copyright infringement in your advertisements.

Employment Practices Liability. Covers claims, including legal defense costs, for certain employment-related lawsuits brought against you by your employees or job applicants ($5,000 limit where available).

Defense Costs. Pays legal expenses for certain liability claims brought against your business regardless of who's at fault.

Medical Expenses. Pays the applicable medical costs if someone is injured and needs medical treatment due to an accident on your premises.

Premises and Operations Liability. Provides coverage for bodily injury and property damage sustained by others at your premises or as a result of your business' operations.

Tenant's Liability. Protects your business against claims of damage due to fire or other covered losses caused by you to premises that you rent.

Note: This summary outlines in general terms the coverage afforded under some policies. Examine the policy carefully for any exclusions, limitations, or any other terms or conditions that may specifically affect coverage. The terms and conditions of the policy prevail.

Why Do I Need Business Liability / Commercial General Liability Insurance?

Business Liability Insurance Keeps You In Business.

Every business benefits from adequate Commercial General Liability coverage. CGL insurance protects you if a customer is injured at your place of business. It would also cover damage or injuries caused by your employees at a client's site.

Battistone Insurance Group

281-391-3133

mark@battistoneinsurancegroup.com

Serving the Health & Life Insurance Needs of Texas, Louisiana & Oklahoma

General Liability Insurance-Commercial