Commercial General Liability Insurance
TOTAL ANNUAL PREMIUM $350 (varies by state)* ===> CLICK HERE FOR CERTIFICATE <===
See below for coverage limits
| Liability Coverages | Limits of Insurance | Premium |
|---|---|---|
| Business Liability Insurance Each Occurrence | $1,000,000 | |
| General Aggregate | $2,000,000 | $ Included |
| Products/Completed Operations Aggregate | $2,000,000 | $ Included |
| Personal and Advertising Injury | $1,000,000 | $ Included |
| Damages to Premises Rented to You | $ 300,000 | $ Included |
| Medical Expenses | $ 10,000 | $ Included |
Commercial General Liability Insurance is the cornerstone of liability insurance for small business. It goes by many names; Business General Liability Insurance, Business Insurance, General Liability Insurance (GL), Liability Insurance, Public Liability Insurance, Bodily Injury (BI), Commercial General Liability (CGL) are the common descriptions.
There are several broad categories of Business General Liability Insurance, and any commercial insurance quote should include the following:
- Bodily Injury
- Property Damage
- Personal Injury (typically this includes libel and slander)
- Advertising Injury
The Commercial General Liability Insurance policy also covers the cost to defend or settle claims – even if the claims are without merit. The defense cost coverage is typically unlimited on the standard policy.
Commercial General Liability Insurance provides protection from financial losses to your business as a result of accidents or claims in the four basic categories. (Coverages vary in all 50 states to some degree.).
- Automatic additional insured.Contractual liability is covered under this provision when you enter into a contract with a third party.
- Personal and Advertising Injury. Provides protection if someone claims injury from something in writing (libel) or something that was said orally (slander) that injures you personally or financially
- Employment Practices Liability. Usually not covered on the Business General Liability Insurance but can be added or a separate policy can be purchased. Provides protection from a delineated list in the coverage of employment type claims from employees.
- Defense Costs. Pays legal fees, court fees and defense costs, normally without limit.
- Medical Expenses. Pays the appropriate medical cost for an on premises injury without regards to fault. Sometimes referred to as “Good Samaritan” coverage.
- Premises and Operations Liability. Provides protect from accidents and claims brought forth on you premises that arise from bodily injury or property damage to third parties.
- Tenant’s Liability. Provides protection for you from claims from the landlord due to damages you cause to the space you are renting, but not for wear and tear.
Please Note: This is just a summary and the actual policies terms, conditions and exclusions prevail.
Why do you need Business General Liability Insurance?
- Business General Liability Insurance gives you peace of mind.
Having adequate coverage on your business site or at your offsite jobs can provide the protection from claims and losses that a small business cannot afford to pay out of its cash reserves.
Protecting your assets and your cash flow can be easy and affordable with a Business General Liability Insurance policy.
- Provides proof for your vendors and clients who want a “certificate of insurance”
The Business General Liability Insurance will provide the necessary coverages that are standard requirements from many of your vendors and clients. Having this coverage in force will allow us to provide you with a certificate of insurance that outlines all these coverages and will satisfy their requirements.
Additional coverages that might be needed in a typical small business insurance quote:
- Professional Liability also called Errors and Omissions insurance (E&O) is another insurance policy that you might need to consider. It covers your professional services such as your advice and counsel that you are giving to your clients.
- Umbrella Liability also called Excess Liability is a policy that can provide higher limits for those vendors and clients that require it.
- Directors and Officers (D&O) coverage might be needed if your corporation has directors or if you are a director for a non-profit company.
This discussion about the Business General Liability Insurance is foundational in building a comprehensive insurance portfolio to protect your business’s assets and cash flow. Small business insurance quotes are easily obtained. We can provide you with a quote in less than 10 minutes, in most cases.
