What does Commercial General Liability Insurance Cover?
In general, CGL insurance protects your company if a customer or an employee files a claim or a lawsuit against you. Here are some important aspects of CGL insurance.
Property/Bodily Injury Liability Coverage
Protects your company in the event of property damages or injuries to people for which your business is responsible. This coverage generally applies to accidents that happen on your business’s premise or because of your operations. It can also cover accidents caused by your finished products or completed operations. It pays for medical fees associated with injury and replacement costs for damaged goods.
Legal Fee Coverage
Pays for the cost of defending your company if a lawsuit is filed against you.
Advertising/Personal Injury Coverage
Protects your business from costs resulting from libel and slander charges.
Commercial General Liability insurance is vital to your business and its ongoing practices. Some clients even require proof of CGL insurance before they will enter into a contract with your business.