Commercial General Liability Insurance

Commercial General Liability Insurance

What it is

Basically, it provides insurance coverage for your business against customer injuries and property damage, and lawsuits related to both. It’s typically required in order for a business to sign commercial leases or client contracts. Consequently, it’s often the first policy new business owners purchase—and arguably the most important to protect your business.

It’s easy to feel overwhelmed by the many CGL options and complicated requirements. And in truth, even seasoned business people admit to being confused or lacking knowledge about their policy. Rest assured, there is no question too large or small; it’s our pleasure to help educate you along the way.

Commercial General Liability Insurance

Who needs it

Whether you are an individual business owner, have a business partnership or your business is part of a corporation, Commercial General Liability will provide financial protection against claims of bodily injury or property damage for which your business may be held responsible.

In addition, any fees incurred while defending your business against a lawsuit may be covered under CGL.

Here are a few examples of the many events that could lead to a liability claim against your business:

• A slip-and-fall accident on your business premises
• A defect in your finished product that sickens or injures consumers
• Damage you cause to a customer’s property while providing your service to them

Commercial General Liability Insurance

Who and what it covers

The “named insured” is the entity the policy is written for and generally all employees of the named insured are covered by the policy. Exactly who your policy covers, though, depends largely on the type of business it is.

While not exhaustive, the list below gives some examples of who a policy will cover based on what the named insured entity is:

1. Joint venture or partnership: all members or partners are insured
2. Limited Liability Company (LLC): all managers and members covered
3. Corporation: directors, executive officers and stockholders are covered
4. Trust: all trustees are covered

Keep in mind that anyone covered under the policy is only covered while acting out their duties related to the business. The above examples exclusively refer to insureds who are named or are automatically included. Other people or business entities may be added as insureds on your policy through an endorsement. In most cases, an additional insured is included to fulfill a contractual obligation.

Commercial General Liability Insurance

Assessing your coverage needs

At The Feltner Group, our goal is to be thorough but to keep the entire process simple.  We gather key information during a preliminary meeting in order to adequately assess your business and uncover any risks. We’ll also look at your current coverages to determine if there are holes that may leave you vulnerable to potential claims.

Based on our assessment of your needs, we fill out formal applications on your behalf and take your business to the insurance marketplace. A one-size-fits-all approach to Commercial General Liability insurance simply doesn’t work, so we take advantage of the fact that we are an independent insurance agency to find the right policy—or set of policies—from the right carriers in order to get you the best coverage for your business.

If you live or do business in the greater Rochester NY area, get peace of mind knowing you have general liability coverage. The Feltner Group’s commercial insurance offerings are second to none.

Fill out the form below to get a general liability and property insurance quote.