Of all the different types of business insurance available, the most important coverage for a company to carry is business liability insurance. The chance of being sued for even a minor issue is much higher now than it was decades ago.  This places every business at risk and in need of the appropriate coverage. Commercial general liability insurance is inexpensive protection for the amount of coverage offered, something that any size business should carry.

The Business Need For Commercial Liability Insurance

More than ever before, a business today is likely to face a legal claim relating to an accident on business property or even an employee mistake that caused an injury or some type of property damage. Because of this very stark reality, it is essential that a business carry commercial general liability insurance to protect them if something were to happen and the business be found liable. Injury cases in particular can be very costly; without the proper coverage, a company could find themselves out of business as the result of a damaging lawsuit.

What Commercial General Liability Insurance Covers

Commercial general liability insurance, or CGL insurance, provides coverage for a number of things, including the following:

  • Bodily Injury - This is coverage for someone injured on business property or injured as the result of off-premises business operations. It can include things like slip and fall accidents, employee negligence, and other issues that result in some type of injury.
  • Property Damage - This is coverage against damages caused by the business or its employees to someone else’s property.
  • Personal Injury and Advertising Damages - This is coverage that protects against liability for damages caused by misleading advertising, copyright infringement, libel, slander, and related offenses that could result in non-physical damages.

Along with coverage for these and other perils named in business insurance policies, CGL insurance usually covers legal defense costs when a lawsuit is filed against a business for a qualifying reason.

Determining Business Insurance Needs

All sizes of businesses need the coverage provided by CGL insurance, although the amount of coverage will vary depending on business size. Like any other insurance policy, the amount of coverage and its cost will depend on things such as specific business operations, actual risks, business location, and many other considerations. State regulations vary as to how much in monetary damages can be awarded; this is also a consideration when determining how much coverage to carry. In any case, it is important to carry enough commercial general liability insurance to protect the business and its owners in any type of worst-case scenario.

When a business needs guidance on which business insurance is best for them, discussing their needs with an agency experienced with commercial general liability insurance is the best course of action. For the low cost of this insurance relative to the protection it provides, business insurance is a great value. With the right type and coverage amount, even a small business can have the peace of mind of knowing that should an accident happen, they are covered for any damages they may have to pay!

Looking For Business Insurance In College Station?

See Jones & Associates For Business Insurance!

Call Them At (979) 599-7532!

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