One of the best ways to avoid a lawsuit is to run your business in the safest way possible. But accidents are “unforeseeable” events and can happen to anyone, anywhere, and at anytime. That’s why every smart businessperson invests in a commercial general liability insurance policy, or CGL. This is considered the foundation of any group of policies purchased by business owners to protect against common risks and exposures that exist within their industry.
You’ll need protection from claims for bodily injury or property damage. Your CGL coverage helps protect you against claims alleging financial loss due to property damage or bodily injury arising out of your business operations or products. You may also suffer reputational harm and the same policy will protect your business against claims of false arrest, malicious prosecution, wrongful eviction, violation of the right of privacy and other covered concerns.
CGL covers other issues as well
Let’s say that you experience advertising errors in promoting products you create or sell. If someone sues you over this, your CGL policy protects your business against claims alleged by others that you in some way infringed on their copyrights when advertising goods, products, or services in your print, radio, or television ads.
In addition, your CGL coverage provides for claims resulting in medical costs if someone is injured on your business premises and needs medical treatment or assistance. More businesses are being sued every day for things such as negligence, libel, slander, property damage, bodily injury, copyright infringement and a slew of other things, often for issues completely out of their control. And businesses have been known to be sued even when they actually did nothing wrong.
Your business deserves to have the proper protection in place, and you need someone who knows how to tailor your policy to fit your needs. Choose an insurer that can provide you with a wide range of limit and deductible options, so that you can choose the level of commercial general liability insurance coverage that is right for you. As your business changes and grows, contact your agent so that he or she can change the limits of your protection accordingly so that you never need to worry.