Commercial Liability Insurance

Commercial general liability insurance, also known as business liability insurance, is a crucial coverage that protects your company from financial losses resulting from third-party claims of bodily injury, property damage, or personal and advertising injury. This type of insurance covers a wide range of incidents that can occur during your normal business operations, whether on your premises or at a client’s location. It typically includes coverage for legal defense costs, settlements, and judgments if your business is found liable. Commercial general liability plans are often considered a fundamental coverage for businesses of all sizes and industries.

Commercial liability plans provides coverage for a variety of risks that businesses face. It typically covers bodily injury and property damage claims arising from your business operations, products, or services. This includes slip-and-fall accidents on your premises, damage to a client’s property during work, and injuries caused by your products. It also covers personal and advertising injury claims, such as libel, slander, or copyright infringement. Additionally, many policies include medical payments coverage for minor injuries, regardless of fault. While the specifics can vary by policy, commercial liability plans are designed to protect your business from the financial impact of common liability risks.

The cost of commercial general liability plans vary depending on several factors specific to your business. These factors include your industry, business size, location, claims history, and the coverage limits you choose. For example, a small retail store might pay less than a large construction company due to different risk exposures. On average, small businesses might pay between $300 to $1,000 annually for basic coverage, while larger businesses or those in high-risk industries could pay significantly more. At UCCU Insurance Services, we work with multiple insurance providers to find competitive rates tailored to your business needs. We recommend getting a personalized quote to understand the exact cost for your situation.

General liability insurance coverage is a comprehensive policy that protects businesses from financial losses due to third-party claims. It typically includes several key components: premises liability (injuries or property damage at your business location), products liability (harm caused by your products), completed operations coverage (issues arising from work you’ve completed), personal and advertising injury (claims like libel or copyright infringement), and medical payments coverage. This coverage extends to legal defense costs if your business is sued, as well as settlements or judgments if you’re found liable. The policy limits you choose determine the maximum amount the insurance will pay for covered claims. It’s an essential safeguard for businesses, providing protection against many common liability risks.