Your business faces many types of liability. Here are some types that a commercial liability policy can cover:
- General Liability – covers costs up to your policy’s limits associated with injury at your business, or from using your product or service. These costs are typically associated with medical fees,damages to property, or legal fees. Here are some specific examples:
- Bodily injury: if a customer slips on your wet floor, you are liable for that injury. General Liability will cover the medical fees.
- Personal Injury: if you or your employees are sued for slander over a publicized comment, GL will cover the legal fees.
- Property Damage: if your awning falls and breaks a customer’s windshield, GL will cover the cost to make the necessary repairs.
- Professional Liability (a.k.a. Errors and Omissions a.k.a. E&O Insurance) – covers claims associated with mistakes or negligence caused by you or anyone in your professional or personal-based service. Whether or not a mistake is your fault, Professional Liability will typically cover your legal fees and the restitution that may be ordered as a result of a lawsuit to correct the mistake.
- Commercial Umbrella Liability – Increases and broadens liability coverage, filling in gaps left by other coverages.
- Employment Practices Liability – covers costs associated with employment practices issues such as disputes with employees over termination, discrimination, and sexual harassment.
Pollution Liability – covers costs related to pollution, including clean-up and personal injury.