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Commercial General Liability

Your business needs protection from liability for injuries or property damage sustained by members of the public. That kind of protection might include damages by products manufactured, sold, or distributed by your company, someone falling or injuring themselves on your property, advertising injury, etc. A Commercial General Liability policy will protect your business and its assets, and in most cases, even from litigation.

Key Terms to Understand
General Aggregate Limit is the most money the insurance company will pay for all claims during the policy term.

Premises/Operations refers to damages resulting from ownership or occupancy of the your premises when not reasonably maintained.

Products/Completed Operations coverage protects you from damages arising out of products manufactured, handled, sold or distributed by your business. Completed Operations protects you from damages that occur after operations have been completed or abandoned, or after a product is made and released for its intended purpose.

Medical payments coverage pays medical expenses for someone hurt or injured in an accident on your business premises, or locations next to your building, or when caused by your operations.

Fire Damage Limit: If a fire occurs because of your negligence and causes damage to property that you don’t rent, coverage would be provided under the occurrence limit.

Personal Injury refers to injury other than bodily injury, such as false arrest, malicious prosecution, imprisonment, wrongful entry, wrongful eviction, or rights of privacy violations. Coverage for libel and slander is also provided in the policy.

Advertising Injury pays for damages done when you are advertising your own products and through oral or written advertising, libel or slander someone else’s goods, products or services.

Ways to Save Money on General Liability Insurance and to Prevent Claims:

  • adopt a strong safety policy and visibly display it throughout your business; demonstrate your commitment to safety
  • have a clear chain of command for implementing safety policy with one employee in charge of it
  • make accident reporting easy and clear and review reports often
  • don’t make unrealistic or false claims in your advertising
  • be sure your product testing takes into account harm which could be done to those using your products
  • attend trade shows and seminars to learn more about safe practices in your industry and document those trainings

Be sure to consult with your Strategic Insurance Solutions, Inc. advisor to learn more about how you can protect
your business. Prevention and precaution can save you lots of money and headaches.

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