Define: Comprehensive General Liability Insurance

Comprehensive General Liability Insurance (CGL) is a type of insurance policy that provides coverage for a wide range of liabilities faced by businesses. It typically covers bodily injury, property damage, personal injury, and advertising injury claims.

CGL insurance is recommended for businesses of all sizes and industries. It is particularly important for businesses that interact with the public, have physical premises, or engage in activities that may pose a risk of injury or property damage.

CGL insurance covers various types of liabilities, including but not limited to, bodily injury, property damage, product liability, completed operations, personal and advertising injury, and medical payments. It typically covers legal defence costs as well.

Yes, CGL insurance policies may have certain exclusions, such as intentional acts, professional services, pollution, employment-related claims, and contractual liabilities. It is important to carefully review the policy to understand the specific exclusions.

The amount of coverage needed depends on various factors, including the size and nature of your business, the potential risks involved, and any legal requirements or contractual obligations. It is advisable to consult with an insurance professional to determine the appropriate coverage limits.

Yes, you can often add additional coverage to your CGL policy through endorsements or riders. Examples of additional coverage options include liquor liability, cyber liability, and employment practices liability.

The cost of CGL insurance varies depending on several factors, including the size and nature of your business, the coverage limits, the industry you operate in, and your claims history. It is recommended to obtain quotes from multiple insurance providers to compare costs.

Yes, you can generally cancel your CGL insurance policy. However, there may be specific cancellation terms outlined in the policy, such as notice requirements or potential penalties. It is important to review the policy terms and consult with your insurance provider before canceling.

CGL insurance is not mandatory in all jurisdictions or for all businesses. However, certain industries or contracts may require businesses to carry CGL insurance. Additionally, having CGL insurance is highly recommended to protect your business from potential liabilities and legal expenses.