General Liability Insurance

Commercial General Liability Insurance (CGL) Explained

Commercial general liability insurance (CGL) is a type of insurance that helps protect businesses from third-party claims of bodily injury, property damage, and advertising injury. It is one of the most important types of insurance for businesses of all sizes, as it can help to protect them from financial ruin in the event of a lawsuit.

What is Covered by CGL Insurance?

CGL insurance typically covers the following types of claims:

Bodily injury: This includes claims for injuries to people, such as slips and falls, accidents, and assaults.
Property damage: This includes claims for damage to property, such as damage to buildings, vehicles, and equipment.
Advertising injury: This includes claims for damage caused by false or misleading advertising, such as defamation and copyright infringement.

Why Do Businesses Need CGL Insurance?

Businesses need CGL insurance to protect themselves from financial ruin in the event of a lawsuit. Even if a business is not at fault, it can still be sued. CGL insurance can help to cover the costs of defending a lawsuit, as well as any damages that are awarded.

How Much Does CGL Insurance Cost?

The cost of CGL insurance varies depending on a number of factors, including the size of the business, the industry it is in, and the level of coverage that is needed. However, CGL insurance is typically very affordable, and it can provide peace of mind knowing that the business is protected in the event of a lawsuit.

How to Get CGL Insurance

CGL insurance can be purchased from a variety of insurance companies. It is important to shop around and compare rates from different companies before purchasing a policy. It is also important to make sure that the policy covers all of the risks that the business faces.

Conclusion

CGL insurance is an important type of insurance for businesses of all sizes. It can help to protect businesses from financial ruin in the event of a lawsuit. If you are a business owner, it is important to consider purchasing CGL insurance.