Business Insurance

Commercial General Liability Policies Guide – What is Typically Included and What is Excluded

It’s not just large businesses that require commercial liability. Businesses of all sizes – and even self-employed professionals – can benefit from having some level of liability insurance. The benefit of a commercial general liability policy is that it helps cover costs associated with personal injury lawsuits, medical payments for others harmed in some way that involves your business, property damage repairs, and so forth.

Of course the amount of coverage you get the types of coverage are going to vary depending on the company and the policy. As long as you have a decent CGL, however, your company should not go bankrupt due to legal defense bills. It gives both you and your customers a peace of mind, and helps your company seem more professional and legitimate.

The bodily injury or property damage to customers protection is pretty self-explanatory. If one of your employees somehow causes damage to a customer’s property, or if a defective product causes harm to a customer or damage to their property, then your CGL coverage will kick in and pay for the expenses. You might also want to have some coverage to protect your employees as well.

Commercial General Liability Protection

Product and completed operations protection is something to consider. You never know when the product(s) or service(s) you offer can actually be harmful to somebody instead of beneficial. Even something like a digital or marketing service could lead to copyright infringement allegation. There are unexpected setbacks associated with EVERY kind of business and profession. This might not be specifically include in a commercial general liability policy, so if you think you might need it, look for an insurer that offers it as an add-on.

There are a variety of other exclusions from CGL policies as well, such as punitive damages, damages to your own property caused by employees or customers, your company vehicles getting damaged, and so forth. It’s important to understand exactly what will be included in the general business insurance policy and what is excluded so you’ll know if there is anything you’ll need to be added on.

Since there are so many insurance companies offering commercial insurance, be careful with your choice. If possible, try getting coverage that is as specific to your industry / professional needs as possible.

One provider in particular to look into is Hiscox Insurance. Over 300,000 small businesses in every industry have chosen this company for its commercial general liability insurance. Hiscox has been offering services since 1901 and has a track record of fast and easy claims processes.

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