General Insurance of Commercial Liability

Companies are faced with unexpected risks, but general liability insurance protects the owner of the company from the financial loss arising from injury to customers on their property or damage to his property team on the other. "Commercial" means that the coverage is for companies, and "responsibility" indicates incidents, the owner of the business, or their employees, could be responsible for, already either directly or by neglecting to provide a safe environment.

Commercial general liability insurance covers the business owner of the actions brought by the injured party. While there are numerous exclusions to coverage, in general, the CGL will pay for injuries caused to a person by negligence, an accident or a mistake that harms a customer, a customer or even a passerby. In addition, the damage to the property by the owner of the company or its employees may be covered. The commercial general liability policy limits have limits. The policy offers a limit per occurrence, as well as a limit of life. If the owner of the company presents a claim for damage to the car of a client when a worker makes a copy of a truck in it, that counts as an occurrence, and the payment would have to limit of the lifetime of the policy.

The list of excluded damages exclusions can be much longer than the list of covered damages. If the owner of the company suffers damage to its equipment, its construction or its inventory, the CGL policy may not cover the costs. Moreover, will not pay physicians of an employee injured at work, if the landlord does not have enough workers’ compensation insurance. In addition, the policy cannot cover the owner of the financial loss resulting from accusations of slander or harassment. Since policies vary from insurer to insurer, the business owner must compare the exclusions carefully.

Cost the cost of a commercial general liability policy depends on the amount of protection required by the owner of the business and the number of employees who have. For a small company with one or two workers and not the recent claims, the fee could be a few hundred dollars, while a large construction company with many workers could pay tens of thousands of dollars each year for the coverage.

Considerations as well as other insurance policies, business owners can shop around for the best rates. Since the general liability insurance covers only a narrow range of claims, the business owner must purchase additional insurance to cover damage to your own business, vehicles, inventory and employees.