Commercial General Liability is the most common and usually the first policy self employed and small business owners acquire. This type of policy provides the owners financial protection if they are held responsible for common accidents or damages that may occur on the property. Its primary duty is to protect against bodily injury and property damage. It also extends coverage for advertising injury and personal injury to a third party for which a company is liable. Some policies can extend the range for Pollution, Product Recall, and Clinical Trials, to name a few.
General liability insurance addresses a wide range of liability loss exposures, falling into two categories:
- Premises and operations liability — liability for conditions or activities arising out of the premises or operations of a company
- Products and completed operations liability — liability of a company to a user who is harmed by products manufactured, sold, or distributed by the company