What do you do when something happens on your property? No matter what the issue is, it’s imperative to be prepared. Make sure you get a commercial general liability insurance quote if you haven’t already done so for your business. When you own a business, it’s important to know exactly what commercial general liability insurance covers and what it doesn’t. In general, commercial general liability insurance covers non-employee related injuries that can happen at your property, any damage that ensues on someone else’s property, and advertising mistakes. But here’s a comprehensive list of what’s going to be covered and what won’t be.

Third Party Lawsuits

Long story short, general liability insurance is there in the event of some kind of lawsuit taking place. This means your insurance company will help take on your legal fees, including attorney’s fees and settlements. All of this happens if your lawsuit happens to be covered, however. Not every lawsuit might be covered under a general liability policy. This means it’s especially important to read the fine lines of your policy, to make sure you know exactly what a third party lawsuit means. Some types of lawsuits that may happen that’ll be covered under your policy include:

• Property Damage – Say something happens to a building that you were in and you caused it. Property damage coverage would assist you in the event that you are sued by that landlord.
• Copyright Infringement – This comes in handy if your company is accused of copying another company, whether it’s in advertising or marketing. Copyright infringement covers you if you are sued by another company.
• Reputation Damage – If your name has been slandered online or you’ve slandered someone else’s name, then this type of coverage might come in handy for you. For example, you might get sued if you posted negative comments about a competitor on the Yelp page.
• Bodily Injury/Accidents on your Property – For example, say someone sues you after they fall and get hurt on your property. That means that you would need some coverage to help pay for all the legal fees.

What Isn’t Covered

When getting a commercial general liability insurance quote, it’s important to know what isn’t covered in your policy.  Here’s some workplace troubles that aren’t covered under commercial general liability, meaning that you’ll need some other type of coverage:

• Employee Workplace Accidents – This calls for Workers’ Compensation Insurance.
• Professional Mistakes – Professional Liability Insurance is needed here.
• Damage to Your Own Business Property – Commercial Property Insurance will prove to be extremely helpful here.
• Cybercrime – Data breaches, crimes and employee dishonesty need their own type of policy.

About ISU / The Olson Duncan Agency

At ISU-The Olson Duncan Agency, our goal is to provide clients with a total solution, not just a quote or a contract. We provide businesses and individuals with insurance and risk management solutions, and we aim to provide real value and build trustworthy, long-term relationships with our clients. To learn more about our services, give us a call today at (310) 373-6441 to speak with one of our professionals.