Is Commercial General Liability Insurance Essential?

Owning a business is always a risk. The risk is not limited to whether the business will flourish or not. It can also extend to how the people around you are affected. There are many variables beyond your control. From your employees actions to how your office was built, many things can go wrong.  Below are some examples of how things can go wrong.

• A person is injured within your premises

Let's look into a typical scenario.  In this, you own a grocery store.  Someone spilled some water in one of the isles and a shopper slips and injures himself.  You are now at risk of being sued for personal injury.

• Property is damaged while doing your business

In another scenario, you own a construction company.  While doing a project, one of your workers accidentally hits a water pipe and floods the neighboring house.  You are now liable for damages to that property.

• Libel or Slander

If one of your employees says something to a customer and offends them,  the defamatory statements made are perceived to be an attack of their character.  You may be looking at a lawsuit.

All of the scenarios above are possibilities when doing business.  However, there is something you can do to protect yourself.  To reduce your risk, one of the most important aspects of any business is having the right liability insurance.  


What is Commercial General Liability Insurance?

In cases your company is sued by a third party, your Commercial General Liability Insurance will kick in.  Like the scenarios mentioned above, all these can result into a lawsuit.  Commercial General Liability Insurance will help by covering the legal fees associated with this.  Also covered are the settlement payments brought about by these proceedings.  


How else can CGL Insurance protect you?

In cases of bodily injury, voluntarily paying for medical attention can help dissuade the complainant from filing charges.  These medical procedures can be covered by your liability insurance as well.  

If you are renting your space and you cause damage to the said property, this can also be covered by your liability insurance.

Though, not everything can be covered.  Claims associated to the following are not included.

• Environmental Damage
• Pollution
• Professional Liability Claims
• Product Liability Claims

You will not be able to control of everything, and a certain degree of risk will always be present. But now you know there is something you can do about some risky aspects of owning a business.

At Valencia Insurance Group, we put our clients first by offering them policies that they can afford. Learn more about our products and services by calling our agency at (772) 344-8899. You can also request for a free quote by CLICKING HERE.

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