The only way to effectively protect the assets of your business is to carry adequate Commercial General Liability (CGL) Insurance coverage. Liability insurance protects business against claims for:
- Physical injuries that occur in your offices to customers, employees or visitors.
- Physical injuries that occur anywhere outside your offices because of an employee or a product/service you sell.
- Damage to someone else’s property by your employee.
Even if you are running a home-based business, you need commercial liability insurance since your home insurance will likely not cover your business operations. For example, if a customer visits your home and slips, your liability insurance would be the one to respond.
What Does CGL Cover?
A typical CGL policy provides coverage for claims of bodily injury or other physical injury, personal injury (libel or slander), advertising injury and property damage as a result of your products, premises or operations, and can be offered as a package policy with other coverages such as Property, Crime, Automobile, etc. As a safeguard against liability, CGL enables you to continue your normal operations while dealing with real or fraudulent claims of negligence or wrongdoing. CGL policies also provide coverage for the cost to defend and settle claims.