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What is Comprehensive General Liability Insurance?

Posted on 03 April, 2022
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Residential and commercial properties are exposed to many natural and man-made perils such as earthquake, tsunami, fire, storm, theft, and burglary. These unforeseen perils can occur anytime and cause severe damage to the property and its contents, resulting in huge financial losses for the property owner. Property insurance can protect the property owner from incurring such losses.

Accidents and negligence while conducting business operations can lead to liability exposure in various ways. This is why many businesses opt for Commercial General Liability (CGL) insurance to protect themselves against financial losses resulting from such lawsuits.

comprehensive general liability insurance

What does the Commercial General Liability (CGL) Insurance Policy cover?

Many small business owners buy this policy to get protection against liability claims like:

  • Third-party bodily injury

  • Third-party property damage

  • Advertising injuries

  • Reputational harm

  • Personal injury

However, it typically excludes liability claims like:

  • Vehicle liability

  • Pollution claims

  • Professional liability

  • Contract disputes

Who needs Commercial General Liability (CGL) Insurance?

While State laws don’t mandate you to own a Commercial General Liability (CGL) Insurance policy, having such coverage protects your business from financial risk. It helps you cover legal defence fees, court costs, and settlements in the event of a customer or client filing a claim against your business.

Ideally, you should consider buying this policy if you:

  • Own an office or building that is open to your clients or vendors

  • Work near your client’s property

  • Advertise marketing materials for your business

  • Use social media personally or professionally

What other insurance does a business need for comprehensive coverage?

As the Commercial General Liability (CGL) Insurance policy does not cover many types of business liabilities, a new business might consider the following types of insurance for more comprehensive coverage:

  • Professional liability coverage: Quality of work a company provides.

  • Commercial property insurance

  • Workers’ compensation insurance

  • Cyber liability insurance

  • Product liability insurance

  • Hired and non-owned auto insurance

  • Liquor liability insurance

A business or a company needs protection against various forms of damages and losses during its operations. Owning a Commercial General Liability (CGL) insurance policy can be a great saviour for protection against the impending liabilities and lawsuits resulting from operational accidents and business-related misconducts.

  • Comprehensive General Liability
  • Product Code: 4066
  • Product UIN: IRDAN115CP0001V01202021

Help us know you better!

This contains only an indication of the cover offered. For complete details on risk factors, terms, conditions, coverages and exclusions, please read the sales brochure carefully before concluding a sale.ICICI trade logo displayed above belongs to ICICI Bank and is used by ICICI Lombard GIC Ltd. under license and Lombard logo belongs to ICICI Lombard GIC Ltd. ICICI Lombard General Insurance Company Limited, ICICI Lombard House, 414, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025. . IRDA Reg.No.115. Toll Free 1800 2666. Fax No – 022 61961323. CIN (L67200MH2000PLC129408). (Comprehensive General Liability, 4066 , IRDAN115CP0001V01202021)