General liability insurance, also known as commercial general liability (CGL) insurance, is a policy designed to protect businesses from financial losses due to liability claims for bodily injury or property damage caused by the business's operations, products, or services. It typically covers the legal costs and expenses associated with defending against or settling claims, as well as any judgments or settlements that may arise.
General liability insurance is crucial for businesses as it provides a safety net against potential legal and financial risks. The specific coverage and cost of the policy can vary depending on the type of business, its size, location, and the scope of operations.
Bodily Injury
This covers claims when someone is injured on the business premises or due to the business's activities.
Property Damage
This covers damage to third-party property caused by the business's actions.
Product Liability
If a product sold by the business causes harm or injury, this coverage can protect against related claims.
Advertising Injury
This covers claims related to defamation, copyright infringement, or other advertising-related issues.
Medical Payments
This can cover medical expenses for injuries that occur on the business premises, even if the business is not at fault.