Running your business involves many decisions, but with the right information, you can take the guesswork out of commercial general liability insurance. With this coverage, you protect your company from financial damages incurred due to personal injury, bodily injury or property damage caused by the business’ operations, products or property.
There are several areas of coverage your commercial policy might cover.
- Bodily Injury and Property Damage Liability
- Personal and Advertising Injury
- Medical Payments
Commercial general liability insurance is a solid form of coverage, but it is not always comprehensive. Depending on the nature of your business and operations, you may need to bundle this policy with others. If you are a food service restaurant or venue serving alcohol, you will need to consider adding a liquor liability policy. If you have company vehicles or offer transportation, a commercial auto policy is also wise.
The thought of having such extensive coverage might sound incredibly expensive, but the truth of the matter is that you can’t afford to go without it. Lawsuits and claims against your company can cost thousands in legal fees, court costs and awarded damages. Having commercial general liability insurance helps defray these costs and spare your company the financial chaos that could ensue. The greater your exposures and risks, the greater your need for quality coverage.