General Liability Insurance

Commercial General Liability Insurance, also known as CGL, is a coverage for businesses and organizations to protect from bodily injury to others or property damage. These damages can be something that occur on your premises or at a different location, to a product you sell or produce, or for work that you have completed. General Liability can cover the cost of damages you are found responsible for and even cover your legal expenses in your cost to defend yourself.

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What Does Commercial General Liability Insurance Cover?

It's pretty simple... It covers bodily injury and property damage that you or your business could be held responsible for, and even the cost to defend yourself. Here are some examples of a few different liability claim types:

  • Premises: Coverage for injuries of others on your premises such as trip and fall hazards.
  • Operations: A contractor working in a house accidentally hits a waterline inside of a house and causes damage to a customers property.
  • Products:A company that assembles picture frames to home furnishing stores uses fault hardware that causes injury from a picture falling onto a person.
  • Completed Operations: A customer gets their brakes changed by a mechanic and it's done improperly and causes the customer to crash and become injured from the brakes not being installed properly.

How Much Does General Liability Insurance Cost?

General Liability can vary drastically based off of the type of business that you are in. If you are a small retail shop, you are typically going to be at a lower risk than a large contractor using heavy equipment. Policies usually start around $500 per year and go upward from there.

Companies are typically rated off of items such as their payroll figures or their gross sales depending on the type of company. The rates can be higher or lower depending on the total size of the company.

To get a better understanding of your rates, how they're put together, and ways to keep them down in the future, give us a call to see how we can assist you.

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