As a business owner, you want to be assured that the company is protected against loss in the most comprehensive way possible. Many companies could face financial devastation if subjected to a lawsuit, and they depend on having the best insurance policies in place to offer the necessary protection. A Commercial General Liability (CGL) policy is one type of insurance that is essential for businesses, as it can provide coverage to a business for bodily injury, personal injury and property damage caused by the business’ operations or products, or injury that occurs on the business’ premises. Here are some damages that are typically covered by a CGL policy:
Property Damage and Bodily Injury
Essentially, a CGL policy provides coverage for damages caused by a business or their product or employees to a client or their client’s property. Physical injury or property damage can occur at any time, even in companies that take the utmost caution to provide a safe environment, but a CGL policy can cover these risks.
Personal or Advertising Injury
This refers to actions that can damage the character or reputation of another, such as libel or slander, invasion of privacy, unintentional copyright infringement or use of another’s advertising idea.
Medical Payments
If a customer, client or visitor suffers an injury on the business premises, a CGL policy may cover the medical expenses incurred by that injury, such as expenses for surgery, ambulance, hospital stay or continuing care, as well as the costs associated with the defense of a lawsuit or legal fees to fight fraudulent or excessive claims.
What is Not Covered by CGL Policy?
While a CGL policy does provide protection from a wide variety of claims, it does not protect against every risk a company may face. It may not cover against damages incurred due to the use of a company automobile, injury to a company’s own employee, or damage to a company’s own product, for example. Additional policies such as Commercial Auto Insurance, Workers Compensation Insurance or Business Property Insurance may be wise in order to get more complete coverage.
CGL polices offer varying levels of protection, and an experienced agent like those at Webb Insurance can determine the most appropriate policy based on the specific needs of your company. Webb Insurance works with a variety of insurance carriers and offers the most comprehensive selection of business insurance policies to benefit your company. We can customize the right combination of policies, including CGL policies and many others, to provide more complete protection for your business and more peace of mind for you. Call us at 847-235-6001 or email [email protected] to learn how we can help your company achieve the best protection at the most reasonable rates.
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