Being in the business for as long as we have, you tend to know a thing or two about what people do and do not know in the premise of your job/ profession. Of these, the fact that most business owners are unaware of the difference between various types of liability insurance is quite astounding. You see, both, general and commercial general liability insurance fall under the umbrella of liability insurance. Liability insurance is a part of the general insurance system of risk financing to protect the purchaser from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy. For any insurance plan, liability insurance is one of the key factors to consider.

Commercial general liability insurance is also known as general liability insurance. The “commercial” part comes in when you avail this insurance for your business.

What does your commercial general liability insurance cover?

Well, to put it simply, it covers a whole lot! From work place injuries to funding litigation matters against slander – commercial liability insurance is a must have for any and all types of businesses. This is also supported by a staggering figure – 4 out of 10 small businesses will likely experience a liability claim in the next 10 years.

Basically, it covers:

Damage to your reputation

Be it an employee putting a bad name to your business or a dissatisfied customer slandering your life’s work, reputational damage can cause you god business and reduce profits. Consequently, running a case against the perpetrators is even more costly – financially. Your CGL covers and pays for all these matters!

Third party damages

Third party damages – be it bodily injury or damage to property, all are covered under commercial general liability insurance. Say, for instance, customer slips and falls on your property and sues you. You can pay for their medical bills through this insurance. Same is the case with property. If you or any of your employees and operations cause damage to another property, your insurance will help pay for that too.

Damages in advertising

If you’re a business owner, you know how much copyright infringement can hurt you and your business. No worries! Your CGL will cover all the hurt and pay for the damages.

What commercial general liability insurance does not cover?

It is really important to be aware of what your insurance does not cover in addition to what it does. CGL does not cover:

• Liabilities covered under worker’s compensation such as an employee sustaining a work related injury or getting ill.
• Litigation matters which might arise with in the umbrella of employment practices.
• Matters covered under professional liability insurance.
• Things which fall under commercial property insurance.

At Paradiso insurance, our goal is to make your life easier. Be it in the professional sphere or private, our aim is to provide our customers with the best insurance plans they can get their hands on – fitted and tailor-made to their needs and specifications. Our professional staff and excellent services are designed keeping your best interest in mind and our on-hands approach is what makes us a firm you can rely on.