WHAT IS COMMERCIAL LIABILITY INSURANCE?
Although every business needs it, some owners find they can’t fully answer the question: What is Commercial Liability Insurance?
In very simple terms it’s a form of insurance that protects the policyholder from the costs of being blamed for injuries (and deaths) or property damage caused by the policyholder’s business operations, or its products.
It also includes accidental injuries that happen on your business premises.
It provides financial coverage for the cost of settlements and/or defending lawsuits and for rectifying faults or errors up to limits specified in the policy.
Commercial General Liability Insurance and Business Liability Insurance are the same.
HOW DOES COMMERCIAL GENERAL LIABILITY INSURANCE PROTECT MY BUSINESS?
Generally, Business Liability Insurance in Ontario will protect you from liability due to:
- Bodily injury to customers, employees, vendors, visitors
- Property damage or loss
- Personal injury including libel or slander and violations of privacy
- Medical expenses from any injuries
THE EXPERTS AT ACUMEN CAN ALSO TAILOR YOUR COVERAGE WITH ADDITIONAL ENDORSEMENTS INCLUDING:
- Excess liability coverage (sometimes known as umbrella coverage) to protect against claims with costs above the limits of your standard policy.
- Costs associated with product recalls
- Insurance for allegations of discrimination
- Mistakes (errors and omissions) in financial and other business statements
- Breach of contract
- Tenants’ legal liability if you rent or lease space
- Liability from use of non-owned vehicles
- Advertising injury liability if your claims don’t live up to their promises
COMMERCIAL GENERAL LIABILITY INSURANCE REQUIREMENTS
We can protect any type of organization against liability risks, including manufacturers, service providers and non-profits. If you’re in a high-risk product or materials business, we can cover those operations too.
We can also provide Commercial Liability Insurance for small businesses, including sole proprietor businesses, home-based business and even firms without specific premises such as landscapers, painters and more.
The key requirement for your protection is that your business is compliant with all industry and government regulations. Don’t worry if you’re not sure about this. We can provide the guidance you need.
Offences that are illegal are not covered.
MORE HELP FOR YOUR BUSINESS
Protecting your business is not just about having Commercial General Liability insurance.
- Risk management guidance to reduce your exposure to dangers.
- Best value and valuable savings through our relationship with multiple insurers in Ontario.
- Help and support with claims.
- Regular reviews to make sure your business is always properly insured.
GET A QUOTE FOR GENERAL LIABILITY INSURANCE TODAY
It’s a chilling thought, but without insurance a single liability lawsuit or claim against your organization could put you out of business overnight — after all the work you’ve put in to build it into a success. Even the costs of defending a vexatious, untrue allegation could cost you a small fortune.
Don’t risk that! And don’t waste a minute getting the protection you need!
The experts at Acumen Insurance can answer your questions and provide a rapid quote for your Commercial General Liability Insurance at no cost and without any obligation whatsoever. Even if you already have coverage, a no-cost, no-obligation review could save you a significant amount of money or identify gaps in your existing commercial liability insurance.
Business Liability Insurance is a lot less expensive than defending a claim in court. Call our brokers Today 905 574 7000