Commercial Liability Insurance
A commercial general liability policy provides business owners the protection needed in the event a customer suffers bodily injury, personal injury or property damage as a result of the daily operations of the business. Commercial general liability is considered a type of comprehensive insurance but does not cover every risk a business may face.
There are two types of commercial general liability – claims-made policy and occurrence policy. When discussing commercial general liability with our business clients, (agency name) agents take into consideration every business, even within a specific industry, has unique risks it faces during operational hours. It is important to understand the difference between the two policies and ensure you have the coverage that works best for your business situation.
Three items a business owner needs to know when considering commercial general liability insurance:
- A Commercial general liability policy covers a business in case of bodily or personal harm or property damage caused by a business’s operations, products sold by the business, or property damage caused by the business or its employees.
- A claims-made policy covers claims regardless of when the event took place, and an occurrence policy covers claims for events that take place during a set period.
- A business that has a contractual agreement with another company or individual, like a cleaning business, can add them as “additional insured” on the commercial general liability insurance policy.
Commercial liquor liability insurance is a type of insurance that provides coverage to businesses that sell, serve, or distribute alcohol in the event that a patron causes harm to themselves or others as a result of being intoxicated.
This type of insurance typically covers a variety of claims, including bodily injury, property damage, and other types of harm resulting from the consumption of alcohol. It may also cover legal defense costs, settlements, or judgments related to such claims.
Commercial liquor liability insurance is commonly purchased by businesses such as bars, restaurants, and liquor stores. Policies can be customized to meet the specific needs of a business and may include coverage for additional risks such as assault and battery, false arrest, and other related claims. It is important for businesses to carefully review the terms and conditions of their policy to ensure that they have appropriate coverage for their specific risks and exposures.
If you are in the business of serving the needs of others, you probably understand the importance of having Professional Liability Insurance. As you know, the smallest mistakes can become complicated and costly.
Professional Liability Insurance is also known as Errors and Omissions Liability Insurance. If your service includes heavy paperwork, offering advice, making recommendations, designing solutions, or representing clients, this type of liability insurance is for you.
You more than likely already have General Liability Insurance. This policy offers protection from physical damage to a person or property. Professional Liability Insurance offers different protection, covering financial losses for other people due to your business actions (or lack of).
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