As a business owner you know there are many variables that can come with owning a business. You are liable for unintentional accidents, mistakes or injuries in which you or your employees may be involved in. Commercial General Liability insurance protects your business from financial loss should it be sued for property damage or advertising injury caused by your business operations, services or employees. Business general liability insurance helps you with the costs of legal defense and legal damages. It covers medical expenses, attorney fees and damages when you are legally responsible and other expenses you might have never thought of. As a local insurance provider, Heritage Wise Group offers commercial general liability insurance in Saginaw, Bay City, Midland, and all of Michigan.
What is Commercial General Liability Insurance?
Commercial General Liability Insurance (CGL) protects you from lawsuits or financial loss should your business be held liable for damages or injury. Someone can trip and fall, and now needs money for medical bills, business liability has you covered. A client purchases a product of yours and it proves defective, and you have to pay for attorney fees and damages, business liability has you covered. You have a disgruntled ex-employee who is bringing legal action against you, again business liability has you covered. It is important to note that CGL covers non-professional negligent acts; which are violations of the personal, business, or property interests of private citizens. Here are some examples of situations where your business could be found liable, but could be covered by a CGL policy:
- While at your business, a customer slips on loose carpeting and is injured while falling.
- Your business is the subject of a class action lawsuit, claiming that your advertisements contained misleading information.
- One of your employees accidentally leaves a faucet at a client’s home running, causing water damage.
Business general liability insurance typically has several types of coverage: bodily injury and property damage liability, personal and advertising injury, and medical payments.
Bodily Injury and Property Damage Liability
Bodily injury and property damage protects you against losses from legal liability from bodily injury or property damage arising from non-professional negligent acts, or any liability arising from premises or business operations. Even in the absence of physical injury, you could be found liable for mental injuries and emotional distress. This is a separate coverage from workers compensation insurance or employment practices liability.
Personal and Advertising Injury Liability
This coverage protects you from liability in specific offenses such as:
- Malicious Prosecution
- False Arrest
- Wrongful Eviction
- Invasion of Privacy
- Copyright Infringement
Medical Payments Liability
Commercial General Liability insurance includes some limited coverage for medical payments for injuries sustained by non-employees caused by accidents on your premises or when exposed to your business operations. Even without legal action, medical payments coverage can be activated, allowing for quick settlement of a smaller medical claim. This coverage is on a no-fault basis.
Why Do I Need Business General Liability Insurance?
Even if you think your business is unlikely to face a claim, even a small accident can result in a large lawsuit. In today’s litigious society, it is better to be safe than sorry. Commercial General Liability insurance is affordable, and the costs pale in comparison to a legal settlement and defense costs. Should you be caught in a lawsuit, your time, money, and energy would be focused on something other than running your business- which could be a detriment to your daily operations. With Commercial General Liability insurance from Heritage Wise Group, many of these concerns will be handled for you.
Get a Free Commercial General Liability Insurance Quote
Every business is different, let us put together a business liability program that works best for you business. Business owners in Saginaw, Bay City, Midland, or anywhere in the state of Michigan, should contact Heritage Wise Group at (989) 781-3010 or fill out the form on this site today for a free commercial general liability insurance or business insurance quote!