Choosing Better Insurance Coverage

Few things are more important than having the right insurance coverage. About ten years ago, I was involved in a near-fatal crash where I experienced traumatic physical and emotional injuries. It was really challenging for me to endure the hospital stay and subsequent physical rehabilitation, but with the help of my medical team and my insurance company, I was able to overcome the challenge and completely recover. This blog is all about the importance of choosing the right insurance plan so that you can get on with your life and enjoy those precious years with your family and your friends.

Commercial Insurance Agency: 3 Things That A Commercial Liability Insurance Policy Covers

Insurance Blog

Your company is liable for accidents that injure visitors when on the premises. Since some claims against you can run into millions of dollars, you must prepare financially to meet them.

Getting commercial general liability insurance (CGL) is an excellent way to avoid such issues. It protects you from paying out-of-pocket compensation if someone sues you for negligence. Here are three things covered in commercial liability insurance.

Property and Bodily Harm 

This cover primarily includes damages against bodily harm and destroyed property. It protects you from shouldering financial liability over injuries. These injuries usually arise from non-professional and negligent acts stemming from your operations. 

Besides that, the insurance covers mental and emotional strain inflicted on the people visiting your premises. Therefore, a victim does not need to show visible wounds to get compensated. However, you should remember that this coverage does not include worker's compensation. 

Advertising and Personal Injury

Personal and advertising injury shields you from financial burden if you infringe on a person's rights. This coverage also comes in handy when dealing with the infringement of the intellectual rights of another organization. The offenses you might be liable for include slander, libel, false arrest, malicious prosecution, and using someone's advertising idea. For instance, copying their creative work or using their name can lead to a court battle. 

Other liabilities include wrongful eviction, wrongful entry, and invading privacy. If you wrongly deprive someone of their right to liberty, they have the right to sue you. For instance, invading your tenant's private space is a punishable offense. Commercial general liability insurance caters to legal fees, other court expenses, and settlement and judgment costs in all these situations.

Medical Payments

If a non-employee sustains an injury from an accident on your premises, the insurance will pay for their treatment. With sufficient evidence, the victim does not have to seek the services of the court to get a settlement. Direct compensation also happens in cases that do not require a lot of money. 

Additionally, the insurance handles other healthcare needs like emergency care, ambulance, surgical, funeral, and professional nursing. In this case, the victim cannot demand legal and defense fees as with the other items covered by the insurance. That's because the terms are on a no-fault basis, which means you are not fully liable for the accident.

Getting a commercial liability insurance policy from a reliable commercial insurance agency is an excellent idea if you want to safeguard your startup from costly lawsuits. You do not have to incur a heavy financial burden over non-professional negligence with this coverage.

Contact a company like United Counties Insurance Group for more information.


2 February 2022