General Liability Insurance Overview
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General Liability Insurance Explained
A standard general liability insurance policy issued to business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability. The general liability policy is also often called a “commercial” or “comprehensive” general liability policy. See also Casualty insurance; Contractual liability insurance; General liability insurance; Insurance; Product liability insurance.
The typical commercial general liability insurance policy contains numerous types of coverage including:
- Bodily Injury– Which means bodily harm, sickness, or disease, including resulting death that results from the operations of your business. Ex. a customer slips in your store and breaks their hip.
- Property Damage– Damage caused to property of others. Ex. A contractor accidentally damages the building next to the one he is working on.
- Products Liability– The liability for bodily injury (BI) or property damage (PD) incurred by a merchant or manufacturer as a consequence of some defect in the product sold or manufactured. Ex. customer becomes sick after eating at a restaurant.
- Completed Operations– work of the insured that has been completed as called for in a contract, or work completed at a single job site under a contract involving multiple job sites, or work that has been put to its intended use. Ex. plumber installs a new toilet and it begins to leak and damages the contents of the room below.
- Tenants Legal Liability– tenant accepts responsibility for damage they may cause the the build which they rent or lease from a landlord. Ex. Asset management company employee leaves a candle burning at their desk overnight which catches fire and burns down the entire office tower.
Commercial General Liability Insurance (CGL) is the most commonly purchased form of business insurance. It provides relevant coverage for businesses in every industry and of every size.
To learn more about Commercial General Liability Insurance speak to an ALIGNED Insurance Advocate or connect with us at www.alignedinsurance.com
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