Get a quote


Join Our Distribution List Today!

Can’t find cannabis business insurance? - CLICK HERE TO GET CANNABIS COVERAGE ALIGNED
ALIGNED Insurance

Call Toll Free

What’s The Difference Between CGL & Umbrella Insurance In Canada?

What's The Difference Between CGL and Umbrella Insurance In Canada - ALIGNED Insurance Brokers
ALIGNED Insurance Quote
Want business insurance? Click HERE to get a free insurance quote started!

Is there a difference between CGL & umbrella insurance?

Yes, there is. Doing upfront research and working with knowledgeable insurance experts puts you in control when you buy or renew commercial insurance. ALIGNED insurance brokers understand the difference between CGL & Umbrella insurance in Canada. They also know what questions to ask to ensure that the coverage you buy directly aligns with the specific risks – hidden and obvious – that your business faces. When you work with ALIGNED, you get the insights you need to make informed business insurance decisions.

First things first. Here’s what CGL aka commercial general liability does…

It’s important to understand that in every single Canadian province – with the exception of Quebec – business owners owe what’s known as a duty of care to members of the general public. This means that if and when a liability claims situation should occur, a claim may be made by an injured individual or group.

More specifically, an injured party may allege damages or injuries were incurred after an owed duty of care was breached. Any part of this allegation – be it incurred damages, breached duty of care or owed duty of care – may lead to a lawsuit. This means that your business may be sued for negligence and compensation for damages may be sought.

This is where commercial general liability steps up. Commercial General Liability – aka CGL – protects against liability claims for bodily injury and property damage liability claims against your completed operations, products, premises, operations, as well as advertising and personal injury liability.

What's The Difference Between CGL and Umbrella Insurance In Canada - ALIGNED Insurance Brokers

Want to get CGL & umbrella insurance ALIGNED? Just click to get a free quote now!

…and what umbrella insurance in Canada does…

Meanwhile, umbrella liability insurance delivers an extra layer of coverage to Canadian businesses. This form of liability insurance is over and above commercial general liability policies.

The unique thing about umbrella liability insurance is the fact that it’s designed to activate exactly when your primary general liability coverage is exhausted.

From the ground up, umbrella liability insurance is built to protect your assets. That’s why adding umbrella liability insurance is also known as excess liability and can be added in layers to your existing coverage. Much like packing an umbrella when showers are forecast, this form of excess insurance provides additional spokes of protection that are automatically triggered.

So, the key difference between CGL & umbrella insurance ultimately boils down to…

CGL provides the bodily injury and property damage liability essentials and umbrella insurance provides excess protection against catastrophic losses.

It’s also important to note that umbrella liability policies are generally written over various primary liability policies (i.e. aircraft, CGL, employers, business auto).

We know how vitally important it is to make informed buying decisions. That’s why we deliver insights like these. Every day, we help people get aligned with the best options and value in Canadian commercial insurance coverages.

Need specifics about any of our commercial insurance products?
Call us toll-free now at 1-866-287-0448

We’re here to help you find the BEST commercial insurance…
Our team of insurance brokers is available to help answer any and all questions you might have about all of our commercial insurance products. If you have a question about business insurance, are uncertain about what a particular insurance coverage term means, or simply want to find commercial insurance that directly aligns with your needs, don’t hesitate to call us toll-free at 1-866-287-0448.

Sources: 1 ALIGNED Insurance: CGL insurance explained; 2 ALIGNED Insurance: General insurance; 3 ALIGNED Insurance: How umbrella liability fills the gap; 4 ALIGNED Insurance: Umbrella liability insurance explained

It’s time to get insurance value and choice aligned. Want Canadian business insurance that aligns with your bottom line? We can help. 365. Call us toll-free at 1-866-287-0448 or click to Get a Quote!

We’re ALIGNED across Canada. The ALIGNED Insurance National Operations Centre in Cambridge, Ontario supports our Toronto, Calgary and Vancouver offices. Our industry peers consistently recognize us as one of Canada’s best insurance teams. 100% Canadian owned, we are super proud to be one of the fastest growing insurance brokerages in the country.

We deliver e-news you can use. Get practical business insurance insights in your inbox every month. 19,000+ people subscribe to our free ALIGNMENT Matters e-news. Just click the JOIN OUR DISTRIBUTION LIST button – at the bottom of our homepage – to get connected.

365 | Get ALIGNED. Every day, Canadian business leaders read our insurance insights. Find us on LinkedIn, TwitterFacebookInstagram, LinkedIn and YouTube.

Leave a Reply

Your email address will not be published. Required fields are marked *

Need help managing your business risks during COVID-19? – CLICK HERE FOR INFO YOU CAN USE