General Liability
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Product Summary
Commercial General Liability (GL) coverage can be either a stand-alone “monoline” policy or combined with other coverages to form a Business Owners Policy (BOP) or a Commercial Package Policy. The basic areas covered by a General Liability policy are premises liability, Products and Completed Operations Liability, Personal and Advertising Injury, Fire Legal Liability and Medical Expenses.
What's Covered?
A GL policy covers occurrences of bodily injury and property damages that the insured is legally obligated to pay. Liability insurance covers the business if it is sued for something the business did or failed to do that caused injury or property damage to someone else. Liability insurance covers damages and settlements stemming from a lawsuit, up to the policy limits. General Liability policies also cover attorneys' fees and other costs associated with defending against a lawsuit.
GL policies generally cover the insured's ownership or use of the premises, operations, contractual agreements, products made, sold or distributed, completed operations, personal and advertising injury and medical payments. Medical Payments cover reasonable medical expenses, regardless of fault, for bodily injury.
What Isn't Covered?
Workers' Compensation is not included in a GL policy. Liability resulting from manufacturing, selling, distributing or serving liquor is excluded. The GL policy covers Host Liquor Liability for insureds who are not in the business of manufacturing, selling, distributing or serving liquor. Other common exclusions on GL policies include pollution, aircraft, automobiles, watercraft and product recall.
What Affects the Cost of the Policy?
The premium is based on a variety of factors, depending on the types of coverage forms included in the policy. The size of the insured's operations and the inherent risk of the products will affect the premium.