What can commercial general liability insurance do for you?

General Insurance Agency, located in Clovis, New Mexico, wants to make sure that their customers know what options they have when buying commercial general liability insurance. There are so many policies on the marketplace today. What exactly is covered?

  • Commercial general liability insurance can safeguard you from personal injuries that occur while your business is open – One example would be if your store is open, and a customer is hit and injured by a product falling off the shelf. Another example would be if your customer slips and injures herself in your store
  • Liability insurance can protect your company’s assets and pay for medical expenses incurred when someone gets injured on your property, or when there are injuries or property damages that are caused by your employees or you
  • In the event that you are successfully sued, liability insurance will cover the amount of your legal defense, and also any award or settlement – This includes punitive damages, any non-monetary losses experienced by the injured party, as well as compensatory damages
  • Commercial general business liability may also cover reputational harm – This includes slander, libel, copyright infringement, and any claims of misleading or false advertising and advertising errors

How much coverage your company needs varies according to what type of business you’re in, and what are the perceived risks connected with that business – If your business is web design, for example, you’ll need less coverage than a building contractor. If your business is on the larger end of the risk scale, you might want to consider purchasing umbrella insurance or excess insurance as well.

If you’re a business owner, contact General Insurance Agency (GIA) today. Our helpful staff will be happy to discuss commercial general liability insurance with you.