What Is Commercial General Liability Insurance?

Commercial general liability (CGL) insurance is critical to any company’s risk management strategy. This type of insurance may help cover the costs associated with certain types of claims made against your business.

Florida companies needing a CGL policy can contact Clearwater Partners in Tampa, FL, to build a tailored business insurance plan that includes this crucial coverage. Contact us today to get started.

The Basics of General Liability Insurance

CGL insurance is designed to protect businesses against claims for bodily injury, property damage and personal and advertising injury that can arise from your business operations. It’s important to note that while CGL insurance provides necessary coverage, it does not cover all the risks a business might face.

What Does Commercial General Liability Insurance Cover?

CGL insurance typically includes coverage for the following:

• Bodily injury and property damage liability—If your business is deemed legally responsible for injury to a person or damage to their property, this coverage may help cover the costs.
• Personal and advertising injury—This may help protect against the financial consequences of mistakes your business makes in its advertising or business operations, such as libel, slander and copyright infringement.
• Medical payments—If someone is injured on your premises or by your operations, this coverage may help cover their medical costs.

Why Do Businesses Need General Liability Insurance?

Running a business comes with inherent risks. An accident could occur at your business and cause injury to a customer. An employee might slip while holding onto a customer’s property and damage it. Your business could be held liable for the damage in these and other instances.

CGL insurance may help provide a financial safety net for these types of incidents. It may also help cover legal defense costs and any settlement or judgment if your business is sued.

How Much Does Commercial General Liability Insurance Cost?

The cost of CGL insurance can vary depending on your industry, the size of your business and the amount of coverage you need. Businesses in industries with higher risks may pay more for coverage. Work with an experienced insurance professional to ensure you get the right business coverage at the best possible price.

Contact Us

At Clearwater Partners in Tampa, FL, we understand the unique risks businesses face. Contact us today for a commercial general liability insurance quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.