Even in the most well-run businesses, accidents happen. When these accidents result in property damage, bodily injury, or both, they can be costly for a business to deal with. As such, it is important for your business to be covered for a variety of possible risks.
A commercial general liability (CGL) insurance policy protects your business from financial loss resulting from property damage, bodily injury, or personal and advertising injury caused by your business. Simply put, a CGL policy casts a wide net of protection for you and your business by covering various liabilities such as:
- Third-party bodily injury protection. Something as simple as a guest or a client visiting your business and slipping on a wet floor can result in serious financial exposure. A CGL policy provides coverage for bodily injuries suffered by third parties on your premises or in relation to business operations.
- Third-party property damage coverage. A CGL policy will also protect your company if you are found liable for damage to someone else’s property. A CGL policy typically covers damage to tangible property as well as damages for the loss of use of the tangible property.
- Protection against personal and advertising injury liability. Not all damage is physical. A CGL policy will also protect your business from claims such as copyright infringement, slander, libel, or malicious prosecution.
- Coverage for medical expenses. A CGL policy will provide protection for your business if a non-employee is injured on your premises or in an incident related to your operations. Coverage for medical payments can be triggered without legal action and allows for smaller medical claims to be settled quickly and without litigation.
- A sturdy defense. CGL coverage includes protection for legal expenses if your business has a liability claim brought against it.
Want to Learn More About CGL Insurance?
Running a business comes with plenty of risk, so it’s important to make sure that you’re protecting yourself with the appropriate coverage. Contact our team of Insurance Risk Professionals today for more information on how a CGL policy can protect your bottom line. Our team can be reached at 239-298-8210 or rmc@rmcgp.com.
