Commercial General Liability
CGL Coverage and Limitations
Sometimes, commercial general liability policies are referred to as “slip and fall” coverage, since they get used to defend businesses when someone slips and falls. Liability insurance covers personal injury and property damage that can occur as result of someone being on your premises or coming into contact with your business. It also covers you against claims for slander or false advertising, but that’s all.
If an employee sues you because he feels discriminated against, you won’t be covered. General liability also doesn’t cover you against malpractice claims, product defects or many other things. As such, for many businesses, it’s just a part of their liability coverage.
Product Liability Coverage
When you make or sell products, you’re responsible for what happens with them. Since these risks aren’t covered under a commercial general liability policy, your business will have to add a separate policy for product liability.
If you get sued because your product has a defect or because your product hurts someone, your product liability policy covers you.
Other Liability Insurance Options
Once you get started buying insurance, you can get covered against just about any risk. If you’re in a business where you give care or advice, malpractice, errors and omissions or professional liability insurance can protect you if you get sued for how you took care of your client. Employment practices liability insurance protects you if you’re sued by employees or applicants for wrongful termination, discrimination, harassment or other employment-related claims. You also can insure your premises, buy coverage for fire liability or medical payments, and insure your employee benefits.
In addition to adding the correct additional coverages, like product liability, under your commercial general liability insurance policy and choosing the right limits, the timing of your policy can also be a concern. For instance, if you buy a policy starting on January 1, it might not cover you for a lawsuit filed on January 3 for a product bought on December 20. Alternately, it might not cover you if someone slips and falls in the last week of your policy but waits a month to file a suit. Prior-acts coverage will insure you in the former situation while run-off coverage helps in the latter.
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