Define: Comprehensive General-Liability Policy

A Comprehensive General Liability Policy is an insurance policy that provides coverage for a wide range of liability risks faced by businesses. It typically covers bodily injury, property damage, personal injury, and advertising injury claims.

A Comprehensive General Liability Policy covers various types of liability claims, including those arising from accidents, injuries, property damage, and defamation. It may also cover legal defence costs and settlements or judgments awarded against the insured.

Any business, regardless of its size or industry, can benefit from having a Comprehensive General Liability Policy. It provides protection against potential lawsuits and financial losses resulting from accidents or injuries that occur on the business premises or as a result of its operations.

The cost of a Comprehensive General Liability Policy depends on various factors, such as the size and nature of the business, its location, annual revenue, and claims history. It is best to consult with an insurance agent or broker to get an accurate quote based on your specific circumstances.

Yes, Comprehensive General Liability Policies typically have exclusions and limitations. Common exclusions may include intentional acts, professional services, pollution, and employment-related claims. It is important to carefully review the policy to understand what is covered and what is not.

Yes, insurance companies often offer the option to customize a Comprehensive General Liability Policy to meet the specific needs of a business. Additional coverage options, such as product liability or cyber liability, can be added to the policy for an extra premium.

No, a Comprehensive General Liability Policy does not cover lawsuits from employees. Employment-related claims, such as wrongful termination or discrimination, are typically covered under a separate Employment Practices Liability Insurance (EPLI) policy.

Yes, an insurance company can cancel or choose not to renew a Comprehensive General Liability Policy under certain circumstances. Non-payment of premiums, misrepresentation of information, or a significant increase in risk can be reasons for cancellation or non-renewal.

If you need to file a claim, you should immediately notify your insurance company or agent. They will guide you through the claims process, which typically involves providing documentation, such as incident reports, photographs, and witness statements, to support your claim.

While a Comprehensive General Liability Policy provides essential coverage, it may not cover all potential risks faced by a business. Depending on your industry and specific circumstances, you may need additional insurance policies, such as professional liability, workers’ compensation, or commercial property insurance, to ensure comprehensive protection. It is advisable to consult with an insurance professional to assess your specific insurance needs.