Commercial General Liability Insurance is Coverage Every Company Needs

The need for having a commercial general liability insurance coverage is paramount if you are running a business or commercial establishment of your own so as to protect you against the many liability claims that you may be subjected to.

Commercial general liability insurance protects you against those liabilities that might be incurred as a result of your business dealings with customers or other individuals or organizations. There are many types of liabilities that could be claimed against you and your business.

These include claims for personal injury or bodily injury suffered by a customer at your place of business or a claim arising out of faulty goods and service delivery. There might be also instances when you might face a worker's compensation claim for injuries suffered at the workplace by your employees.

The most common causes for liability claims are usually slip and fall accidents in which customers are involved and which take place at your place of business as well as accidents that involve your employees during their course of employment with you.

A commercial general liability insurance policy protects you from all these liabilities and many more by paying for the damages or by reimbursing you. In the event that a claim made against you is successful, you stand to lose a lot. A successful claim usually means that you end up paying increased amounts as monthly premium towards your policy. The reason is that you are perceived as high risk by the insurance company with each claim that is successfully made against you.

General liability insurance protects you from various liabilities that you might incur, namely personal injury liability which also includes bodily injury, property liability claims, workmen's compensation claims and also claims arising from advertising injury. Irrespective of whether the claim against you is false or genuine, you stand to gain from the protection given by your coverage instead of having to go in for a million dollar settlement with the plaintiff. The policy protects you and your business from suffering the ill effects of litigation.

A commercial liability insurance policy provides the insurance coverage your company needs. A specialized kind of commercial liability insurance is product liability insurance, protecting your company against defective and improperly used products you sell or manufacture.