Table of Contents
- 1 What does a commercial general liability policy cover?
- 2 What’s the difference between general liability and commercial general liability?
- 3 Are employees covered under a general liability policy?
- 4 Why do we need commercial general liability insurance?
- 5 What does your business insurance cover?
- 6 What are the three sections of commercial general liability?
- 7 What is the difference between a commercial package policy and a business owner’s policy?
- 8 What is small commercial insurance?
What does a commercial general liability policy cover?
A Commercial General Liability (CGL) policy protects your business from financial loss should you be liable for property damage or personal and advertising injury caused by your services, business operations or your employees. While visiting your business, a customer trips on loose flooring and is injured.
What’s the difference between general liability and commercial general liability?
Introduced in 1986 to replace the comprehensive general liability policy, a commercial general liability policy is coverage that protects a business from instances of non-professional negligence.
What is not covered by commercial insurance?
Losses from certain types of natural disasters, floods and other major weather events may not be covered by standard commercial property insurance policies.
Are employees covered under a general liability policy?
General liability insurance safeguards your business against the high cost of certain unavoidable liabilities. However, this policy does not cover employee injuries. Instead, general liability covers third-party (non-employee) damages, including: Bodily injuries that a person sustains on your business real estate.
Why do we need commercial general liability insurance?
Commercial general liability coverage is required by most businesses to protect them from financial loss stemming from negligence. It protects a company from some of the most common lawsuits related to normal business activities. Commercial general liability covers non-professional negligence.
What is covered under a business owner’s policy?
A BOP typically protects business owners against property damage, peril, business interruption, and liability. While coverages vary among insurance providers, businesses can often opt-in for additional coverage, such as crime, spoilage of merchandise, forgery, fidelity, and more.
What does your business insurance cover?
Business Insurance can provide cover for your business’ premises and contents, against loss, damage or theft, also offering protection against financial loss experienced from an insured interruption to your business. Building Insurance which covers any physical buildings which you may own against fire and perils.
What are the three sections of commercial general liability?
The CGL policy covers three types of liability exposures: premises and operations exposure, products and completed operations exposure, and indirect/contingent exposure.
What does a business owners policy not cover?
BOPs do NOT cover professional liability, auto insurance, worker’s compensation or health and disability insurance. You’ll need separate insurance policies to cover professional services, vehicles and your employees.
What is the difference between a commercial package policy and a business owner’s policy?
One of the most notable differences may be that a businessowners policy is prepackaged and a commercial package policy is not. When it comes to a BOP, what you see is what you get. The policy is pre-fixed and in most cases, offers some level of property, liability, and business interruption coverage.
What is small commercial insurance?
Small business insurance, sometimes called commercial insurance, helps protect a business’s assets, property and income. A BOP typically includes three basic types of coverage to help protect a business: business property coverage, general liability coverage and business interruption coverage.