Commercial Liability Insurance policy is designed to protect your company from a financial loss in the event of property damage or personal and bodily injury caused by daily business operations and services or employees. CGL insurance policies generally cover the cost of any legal support needed, as well as any damages caused if found responsible, up to your policy limit.
Out of all the coverage policies available, CGL is a highly important insurance product to invest in. Lawsuits can negatively impact your business causing large hits to your finances, company image, etc. Investing in a coverage plan can minimize the blow your business takes from such events especially considering the frequency of liability suits.
There are three main coverages included in your standard CGL policy provided by your insurer. This coverage policy includes personal and advertising injury, bodily injury and property damage liability, and medical payments. Below we have listed in depth information about these three coverages.
Personal and Advertising injury
This part of the standard CGL policy is designed to provide protection against liabilities caused by certain offenses. Below is a list of some of the more common issues covered by this policy:
- Stolen Advertisement Ideas
- False arrest
- Prosecution with the intent to harm another
- Copyright infringement
- Privacy invasion
- Unlawful Entry
- Wrongful Eviction
Property Damage and Bodily Injury Liability
Designed to provide protection to business owners in the event of a loss from a legal liability brought about by negligent acts or business operations within the premises. Depending on your business and the level of risk associated with your daily operations additional coverages could be recommended for the best protection. These policies include workers compensation, employment practices liability, pollution liability, professional liability, liquor liability, etc. Talking with one of our insurance agents will help you identify the best possible coverage plan for your individual needs.
The last coverage within a standard CGL is limited coverage for medical payments. This covers you in the event of an injury sustained by any civilian within the premises whether it’s caused by a daily business operation or and unrelate factor. Due to the ability to trigger payments without any form of legal action, this allows most medical claims on a smaller scale to be settled on the spot. Covered expenses within reason include ambulance, hospital, medical, surgical, nursing, and in the worst-case scenario, funeral expenses for any death on the premises related or unrelated to business operations.
Purchasing your Policy
When your shopping around for a policy that suits your needs there are a couple of ways to go about it. Most policies can be purchased as a stand-alone policy, but should you choose otherwise it can be bundled with a bigger coverage package such as a Business Owners Policy or a Commercial Package policy. When you call The Ephraim Group, we will have an insurance professional consult with you to decide what coverages best suit your individual needs. Depending on your companies’ line of business you might need extra coverage policies to protect you from additional liabilities.
Here at The Ephraim Group, we’ve worked with business and homeowners all around our home in Lawrenceville, GA. We’re Located on Lawrenceville Suwanee Road right next to the popular ice cream chain Brewster’s. Our main services areas include Lawrenceville, Buford, Dacula, Duluth, and Suwanee. Although this is our primary service area, we are more than happy to help anyone with any and all your insurance needs.