Introduction to Commercial General Liability Insurance
Commercial general liability insurance is a crucial form of insurance for businesses, providing coverage for third-party injuries, property damage, and financial protection in the event of a lawsuit. This type of insurance distinguishes itself from commercial property insurance, which safeguards business-owned properties.
Importance of Commercial General Liability Insurance
Commercial general liability insurance is essential for any business dealing with the public, whether brick-and-mortar or online. It safeguards against liabilities such as bodily injury, property damage, and personal injury, providing vital financial protection.
Examples of Commercial General Liability Claims
Examples of commercial general liability claims include incidents like customer injuries on business premises or allegations of defamation due to advertisements. The claims process typically involves reporting the incident to the insurance provider.
What Commercial General Liability Insurance Does Not Cover
While commercial general liability insurance offers broad coverage, certain exclusions exist. This type of insurance does not cover employee injuries, intentionally caused damage, contractual liabilities, or some product liability claims. Additional coverage like professional liability insurance may be necessary to address these gaps.