What is General Liability Insurance?
If you are asking yourself this question, the chances are you are a business owner. Often general liability insurance is included as part of a package of protections that make up a commercial insurance package policy or a business owners policy. However, it is also often purchased on a stand-alone basis. General liability insurance is designed to protect your company from liability arising out of your premises locations, called premises liability insurance. As well as liability arising out of products that you make, called products liability insurance. General Liability insurance covers claims of bodily injury or other physical injury or property damage.
Commercial General Liability policies cover claims in four basic categories of business liability:
- Bodily Injury
- Property Damage
- Personal Injury (including slander or libel)
- Advertising Injury
In addition to covering the claims listed above, Commercial General Liability policies also cover the cost to defend or settle claims – even if the claims are fraudulent.
Why Do You Need General Liability Insurance?
A common misconception of General Liability Insurance is that you have to own a multi-million dollar company in order to purchase it; this is not the case. Every business benefits from adequate Commercial General Liability coverage. CGL insurance protects you if a customer is injured at your place of business. It also would cover damages or injuries caused by your employees at a clients site. It can also protect your business against claims of damage due to a fire or other covered losses caused by you to a location you rent. All businesses are huge investments and should be protected from damages and liability issues.
Don’t Waist Another Minute!
Call VGW Insurance today, at 1-800-553-8102, to discuss your general liability insurance needs or click here to request a Commercial General Liability Quote.
We understand the importance of protecting the assets that you have worked so hard to build. We will be happy to take the time needed to discuss your business insurance needs and help you find the right coverage for the right price.