small business insurance quotes
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.
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:
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 significant financial
loss resulting from claims of injury or damage caused to others by you or
your employees. (Some coverages may not be available on all policies or in all states.)
Note: This summary outlines in general terms the coverages 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.
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.
Commercial General Liability protects businesses against these types of claims.
Even if your company is negligent or liable for damage, injury or loss to another’s
property, reputation or health, your business can keep its assets if it is adequately
Even as a BOP (Business Owner’s Package), where CGL insurance is combined
Property insurance at very reasonable rates, General Liability insurance
does not protect your business against every liability. If you or your employees
make professional judgments and recommendations in the course of your business,
ask your agent or broker about a
Professional Liability policy in addition to a CGL policy.
Professional Liability insurance (also known as Errors and Omissions,
E&O coverage) is a separate type of insurance that protects your business
against loss from a claim of alleged negligent acts, errors or omissions in the
performance of your professional services. Professional Liability insurance is another
important type of coverage to protect your business from potentially catastrophic
General Liability and Property Package coverage is the most basic type of commercial
insurance and is limited to liability claims of bodily injury or property damage.
Coverage is provided for accidents on your premises or at your customer’s
location. Some client contracts also refer to these policies as Comprehensive Commercial
Typically offered as a general liability and property package policy, coverage is
also provided for theft or destruction of your company’s computer hardware
and software and other assets (see property coverage) such as office furnishings
and equipment up to a specified amount.
General liability coverage may be described in your contract in this way:
"Supplier will maintain at its expense Comprehensive General Liability
Insurance. Commercial General Liability Insurance policy limits shall be not less
than a Combined Single Limit for Bodily Injury, Property Damage, and Personal Injury
Liability of $1,000,000 per occurrence and $2,000,000 aggregate."
Figure out which insurance you need based on the language in your contracts.
Learn your risks, how insurance protects you, and what a typical policy costs.
Get a free quote online in minutes, Start Now!