In the fast-paced world of small businesses, protecting your hard-earned assets and operations is essential. One of the most effective ways to help protect your business financially in case of an accident is through purchasing commercial general liability insurance (CGL). Commercial general liability insurance is essential for maintaining stability and fostering business growth, a must-have for small businesses because it’s designed to mitigate risks and provide a financial safety net. We want to help you understand how CGL is a great help in case a claim is brought against your business.
What Commercial General Liability Insurance Can Cover
Commercial general liability insurance is a cornerstone of insurance protection, which helps to cover a range of risks that small businesses frequently encounter. It helps to shield businesses from financial losses related to third-party claims of bodily injury, property damage, and personal or advertising injury. For example, if a customer slips and falls on your premises or if you are advertising and it unintentionally infringes on someone’s trademark, CGL insurance can help to cover some of the associated costs.
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1-855-478-3705What CGL Insurance Typically Includes
- Bodily injury and property damage: Helps to cover legal fees and compensation if someone is injured or their property is damaged due to your business operations.
- Personal and advertising injury: Helps to protect against claims of defamation, libel, slander, or false advertising.
- Medical payments: Helps to cover medical expenses for injuries that occur on your business premises, regardless of fault.
Areas Not Covered by CGL
While commercial general liability insurance offers ample protection, it does NOT cover every risk. Common exclusions include:
- Professional services: Claims arising from professional advice or services.
- Employee injuries: These are typically covered under workers' compensation insurance.
- Intentional acts: Damages or injuries that are intentional or malicious.
- Cyber liability: Data breaches and cyberattacks require separate cyber liability insurance.
Lawsuits and legal expenses
Legal battles can be lengthy and expensive. Commercial general liability insurance can help cover some of the legal defense costs, including attorney fees, court costs, and settlements, involving covered loses that occur due to the operations of your business.
Knowing that your business is insured against covered risks brings invaluable peace of mind. This confidence allows you to make strategic decisions and pursue growth opportunities without the constant fear of potentially expensive liabilities.
Handling claims efficiently and responsibly helps maintain your business’s reputation. Commercial general liability insurance demonstrates to customers that the insurance providers are prepared and professional, reinforcing trust in your business.
Every business is unique, and so are its risks. Understanding your risk assessment helps you to identify potential liabilities specific to your business operations. Once you understand your risks, work with your IIA agent to customize your commercial policy. Adjust coverage limits and deductibles to match your business’s financial capabilities and risk tolerance.
Insurance can be complex when you don’t have the basic information and expert advice of one of our agents. Our agents can guide you through the process and offer you the options that you feel are best for your needs.
Why Choose IIA for CGL Insurance?
IIA has built a reputation for reliability and integrity. We know that no two businesses are the same. Choosing IIA gives you the peace of mind knowing that you’re working with a trusted insurance agency. The IIA team provides supportive services every step of the way because we are committed to assisting business owners, making the insurance process straightforward and stress-free.
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Taking the Next Steps to Protect your Business
Don't wait for an unexpected event to threaten your business before considering the insurance coverage you need. Be proactive and secure the right policy now, to include commercial general liability (CGL) insurance. CGL is a crucial investment that offers financial protection in case of covered accidents and helps with the management of your business's reputation. Ensure your long-term success by investing in CGL insurance today.
FAQs
What does commercial general liability insurance cover?
CGL insurance can cover third-party claims of bodily injury, property damage, and personal and advertising injury.
What are common exclusions in a CGL policy?
Exclusions typically include professional services, employee injuries, intentional acts, and cyber liability.
How do I assess my business’s insurance needs?
Consult with one of our knowledgeable insurance agents and conduct a risk assessment of your business to identify potential liabilities.
How do I get a quote?
Obtaining a CGL insurance quote from IIA is a straightforward process. By calling us at 1-855-478-3705 and speaking with one of our agents and providing basic information about your business and its operations, you can receive a quote today. Our agents are ready to assist you with any questions and guide you through the quoting process.
Contact IIA today to get a personalized quote and take the first step in choosing a great insurance policy that will benefit your business.
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Disclaimer:
This material is for general informational purposes only. Products, services, and discounts referenced herein are not available in all states or in all companies. All statements are subject to the terms, exclusions, and conditions of the applicable policy. In all instances, current policy contract language prevails. Coverage is subject to individual policyholders meeting underwriting qualifications and state availability. Other terms, conditions and exclusions may apply.