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SMALL business insurance Professionals
“General Liability Insurance is Insurance placed on businesses and commercial entities protecting them from some of the things they “may” become “legally liable” for.
It (General Liability) does not cover…
(But sometimes you can buy these coverages in or with a package policy)
1) Commercial or Personal Automobile or truckers insurance unless you package it
2) Your business contents or business property or equipment unless you package it
3) Professional liability insurance coverages and exposures like D&O, Errors and Omissions, EPLI or Malpractice Insurance,
4) Terrorism, Flood unless you buy it back
5) Additional Business Interruption Expenses if you have a loss unless you add that extra
6) Loss of Business
but it does protect businesses from some other liability exposures. Some Commercial Insurance Companies created their own policies. This is a very brief explanation, so be sure to read your policy for full disclosure of your coverages, your limitations, and your exclusions. As a simple example, since "overspray" is often never done except for "newbie" businesses, that is often excluded. Be sure to read the exclusions! Many policies will vary.
Comprehensive General Liability was replaced in 1986 by the “Commercial General Liability” (CGL) policy
The CGL policy is a bit different, and most insurance (company) markets sell the CGL instead of basic GL. Since 1971, ISO has been a leading source of information about property/casualty insurance risks. Per ISO (Insurance Services Office) CGL is a "standardized insurance policy issued to business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of your business (location) premises, business operations, your products and completed operations; and advertising and personal injury (PI) liability." The Commercial General Liability policy was introduced in 1986 to replace the misleading terminology "comprehensive" general liability policy.
Be sure to check if your quote includes:
1) Premises Liability, depending on the class of business
2) Products and Completed Operations
3) Personal and Advertising Injury
4) Damages to Rented Premises
5) Medical Expenses
6) Employee Benefits are not included, unless you are purchasing a Work Comp policy too
Package policies, such as a CPP or a BOP, usually have more “built in” coverages, including….
1) Building Coverage, if you included it,
2) Contents Coverage, if you included it,
3) Business Interruption and Extra Expense is often included
4) These are packaged together with Liability protection
BUT NOT including
1) Professional Liability,
2) Auto Insurance including Business or Commercial Auto or Trucker's Liability coverages
3) Work Comp also known as Workmen's Compensation Insurance
4) Health Insurance for you or your employees, these are separate policies
5) Disability Insurance for you or your employees
6) Vision or Dental Insurance for your or employees
7) Life Insurance for you or your employees
We may find a market that may package a few things but you and your agent need to know what you NEED and WANT and make sure it is “included” or make sure you buy separate policies to cover those “needs”.