What Is Commercial Insurance?

Commercial general liability coverage is a type of liability coverage that provides general liability protection for business owners from claims of negligence, personal injury and damage to property. General liability coverage usually protects the business owner in case of an accident or incident that may occur because of their actions or those of their employees, customers or partners. However, this coverage does not cover specific damages that might arise as a result of being negligent, being sued, being the victim of a crime or even just because someone else was injured in your establishment by your business. You also must carry separate business insurance coverage to cover these other risks since they are generally not included in general liability coverage.

The cost of business general liability coverage can be extremely high, especially if the business owner owns a large business. In some cases, small businesses may have to pay thousands of dollars just to be sure that their business will be protected from claims of negligence with commercial insurance. Business owners who only own a few shops or small franchises may have to settle for affordable business general liability coverage to protect their assets. This type of coverage may not be necessary for larger corporations.

Business owners should review their policies on a regular basis to determine which types of risks are covered and which ones aren't. For example, some insurance providers do not provide coverage for lawsuits, which are often caused by personal injuries or damages due to defective products. If the business owner finds that their insurer does not provide sufficient commercial insurance coverage for their needs, they should immediately review their policy. If the business owner can not find adequate protection in their policy, they should immediately contact an insurance agent to request a change. In most instances, changes can be made within a few hours.