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Protect your business with commercial general liability insurance
Get business insurance quotes for commercial general liability (CGL) insurance and any commercial property or contents (equipment, tools or supplies) you may also have online through Kanetix.ca. Available to businesses in Ontario and Alberta, all you have to do is enter your postal code to get started.
CGL is coverage that will protect your business in the event that you are sued. It is often used to cover claims against your business for bodily injury, personal injury, or property damage. For those who rent or lease their work space, it may also provide coverage-depending on the circumstances-if you are responsible for damage to that workplace.
Commercial general liability insurance is one of the most popular business insurance products sought after by business owners.
Introduction to commercial general liability coverage
Commercial general liability insurance is coverage that will protect your business if you are sued. Typical examples include if a customer is injured at your place of business, or say an employee damages property at a client's site.
Without a commercial general liability policy, you leave yourself and your business vulnerable to lawsuits. It is, unfortunately, a necessary cost of doing business.
What does a CGL policy cover?
There are four main coverages included in the standard Commercial General Liability (CGL) policy:
Bodily injury and property damage liability: Basically, if your company, your product, your work, your employees, or anything associated with your company causes physical injury or damages property, you could be held legally responsible. If responsible, and you have a commercial general liability policy, your coverage will pay for the compensatory damages. Compensatory damages are damages that are meant to put things back the way they were financially.
Personal injury liability: While most people think of personal injury as physical injury this is not the case with a CGL policy where it actually means damage of a person's character, reputation or position in the community as a result of libel or slander. This coverage protects you if you're accused of libel or slander, not the other way around.
Medical payments: This part of your CGL policy provides coverage that pays minor medical expenses from an accident that happens at your company's premises or as a result of your company's operations-even though you may never be held legally liable for the accident.
Tenants' legal liability: Suppose you don't own the space where you've set up shop and rent your office, shop or retail space. If you are held legally responsible for causing a fire, explosion, smoke damage, or other damage caused by fire protection (like sprinklers going off) then this coverage will pay the compensatory damages. This applies only to damages of the rented premises - not the property (i.e. product, inventory etc.) that you may personally own.
In addition to getting quotes for commercial general liability, you can get quotes that include coverage for the loss or damage of your stock, supplies, equipment, tools, inventory and more.
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