These are the basic coverages provided by the West Hollywood Commercial General Liability (CGL) insurance policy. As with any insurance policy, there are limitations and exclusions you should be familiar with that are not addressed here. Whenever you have a question about your policy, you should contact your independent agent at Makar Technique Insurance Agency, who will be able to answer these questions for you, or possibly make amendments to your CGL insurance policy to meet your specific needs.
What is a Commercial General Liability or CGL Insurance?
The West Hollywood Commercial General Liability insurance policy provides an occurrence limit and an aggregate limit. An aggregate limit is the maximum limit the insurance company will pay in a policy term, which is 12 months. The policy may or may not be subject to a deductible. The deductible can be applicable per claim or per occurrence.
The policy form can be an occurrence form, or it can be a claims-made form. Be sure you have a clear understanding of the difference between the two forms when you purchase a CGL insurance policy.
Basic Coverages in a Commercial General Liability Insurance Policy
Premises Liability provides liability protection for you if a third party is injured while on your insured premises. It will also extend to cover as an additional insured, your landlord, or the manager of the premises you occupy if you are not the property owner. The Commercial General Liability insurance policy also provides coverage for third party property damage. If you are the tenant of a rented building or space and unintentionally cause a fire or other damage, the insurance policy will protect you.
Medical payments that have a per person limit will be included in the West Hollywood General Liability insurance policy. Generally this limit is $5,000, but can be increased to $10,000 or higher with come insurance companies. The intent of this section of coverage is to provide coverage for a minor injury that occurs accidentally and it is paid without regard to the liability of the insured.
Personal injury liability applies to claims that are not a result of bodily injury. Some examples of claims paid under this portion of the Commercial General Liability would be a false arrest, wrongful entry, or wrongful eviction, libel, or slander.
Advertising injury liability is included, but only if this claim occurs as a result of advertising your services or products. This is not intended to provide Professional Liability that you may need and would be better served through the purchase of a separate professional liability policy.
Products and Completed Operations liability insurance included in the Commercial General Liability insurance policy is intended to cover you for claims resulting from the manufacture, distribution or installation of your product. A completed operation is triggered when the product has been put to its intended use.
The policy will include supplemental payments, such as defense costs, court costs, and your costs to assist in the investigation and settlement of your claim, provided these actions are requested by your insurance company. As the policyholder, you should document your expenses for proper reimbursement from your insurance company.Through these expenses, you can secure coverage with the right Commercial General Liability Insurance. A coverage like this will enable you to compensate others in a situation where your business causes bodily injury, reputational harm, or property damage accidentally. To learn more about the coverage options, get in touch or call Makar Technique Insurance Agency right away!