Commercial General Liability is a very common and very necessary type of insurance that protects businesses from financial loss should they be liable for personal injury or property damage, caused by the services they provide. Examples include:
- A client is injured because they fell on loose flooring
- One of your employees causes a flood in a customer`s home because of accidentally leaving the water running.
- You are sued for misleading information in your advertisements.
General liability insurance will pay on your behalf for all the damage and cover the costs related to your legal defense. This is very important for avoiding bankruptcy and also the negative impact a lawsuit may have on your business.
Standard commercial general liability insurance Colorado policies include:
- Bodily Injury (including mental injuries and emotional distress) and Property Damage Liability. Workers compensation, pollution liability, liquor liability, professional liability and other risks may also be excluded, but can be purchased separately, with the help of an insurance professional, who can help you to determine the right endorsements for your business.
- Personal and Advertising Injury – It provides protection against liability resulted from false arrest, slander, copyright infringement, malicious prosecution, invasion of privacy and more.
- Medical Payments – These are for injuries sustained by someone other than your employees, because of exposure to your business operation.