The Commercial General Liability Policy provides the insurance protection
needed to pay damages for bodily injury or property damages for which the
insured is legally responsible. The policy provides coverage for liability
arising from personal injury and advertising injury. Coverage for medical
expense is also provided. The policy also covers accidents occurring on the
premises or away from the premises. Coverage is provided for injury or damages
arising out of goods or products made or sold by the named insured. The insured
is the named insured and the employees of the named insured. However, several
individuals and organizations, other than the named insured, may be covered,
depending upon certain circumstances specified in the policy. In addition
to the limits, the policy provides supplemental payments for attorney fees,
court costs and other expenses associated with a claim or the defense of
a liability suit.
Your general liability insurance gives you
liability coverage:
There are two commercial general liability coverage forms
available,
the occurrence form and the claims-made form. Both forms are
somewhat
identical in the coverage's offered. The main difference is in
the way claims
are handled under the two forms. The occurrence form
covers bodily injury
or property damage claims that occur during the
policy term, regardless of
when the claim is reported. The claims-made
policy form only covers claims
made against the insured during the
policy term. A claim made after the policy
expires is not covered by a
claims-made policy unless the claim is covered
by an extended
reporting period. The claims-made policy will only have the
extended
reporting period. The following terms reflect both forms.
General Aggregate
The General Aggregate Limit is the most money the insurer will pay under
a certain coverage for all claims occurring during the policy term.
Premises/Operations
Coverage is provided for damages arising out of ownership or occupancy of
the insured premises when not maintained in a reasonable manner. This also
covers damages arising out of operations performed by the insured business.
Products/Completed Operations
Products coverage is provided for damages arising out of products manufactured,
sold, handled or distributed by the insured. Completed Operations covers
damages occurring after operations have been completed or abandoned, or after
an item is installed or built and released for it's intended purpose.
Medical Expense Limit
Medical payments coverage pays medical expenses resulting from bodily injury
caused by an accident on premises owned or rented by the insured, or locations
next to such property, or when caused by the insured's operations. These
payments are made without regard to the liability of the insured.
Fire Damage Limit
The fire damage limit provides coverage for fire damage caused by negligence
on the part of the insured to premises rented to the named insured. If a
fire occurs because of negligence of the insured and causes damage to property
not rented to the insured, coverage would be provided under the occurrence
limit.
Personal Injury
Personal Injury means injury other than bodily injury. Coverage is provided
for injury resulting from offenses such as false arrest, malicious prosecution,
detention or imprisonment, the wrongful entry into, wrongful eviction from
and other acts of invasion, or rights of private occupancy of a room. Coverage
for libel and slander is also provided in the policy.
Advertising Injury
This coverage pays for damages done in the course of oral or written advertisement
that disparages, libels or slanders a person's or organization's goods, products
or services. Coverage for these offenses is provided under advertising injury
coverage only if they occur during the course of advertising the named insured's
own goods, products or services.
Each Occurrence
Each occurrence is considered to be an accident, which could include continuous
or repeated exposure to the same harmful conditions. An occurrence can also
be a sudden event, or a result of a long term series of events.
Whether you are seeking a free comparative no-obligation
quotation or an in depth assessment of a report on your insurance needs,
complete the inquiry form, speak to one of our business & commercial insurance
experts
1-877-742-0550 / 954-742-0550 or request a free call back today.
