People often get caught up in the commercial liability vs general liability mess, when they really shouldn’t. Both options provide coverage for a similar set of claims, which makes them the same premium. Here are some of the things these policies cover.
CL and GL policies cushion businesses from the unfortunate event of bodily injury claims. These types of disputes can drown a small business in legal fees, medical bills, and other expenses. For example, if a client falls and breaks a wrist while using a treadmill in your gym, these premiums should sort out any eventualities.
As a business, a six-figure problem is only a damage claim away. For instance, you install a plastic push fitting that fails shortly after installation. It causes a leak and damage to neighboring houses, and the resulting claim amounts to $200,000.
The only way to get around this is by letting the insurance handle it. That makes CL and GL policies an excellent choice for most companies, except those that sell liquor. According to G. A. Mavon, only a liquor liability premium can save you from assault and battery claims.
A competitor may decide to file a lawsuit for using their advertising idea. However, most agencies are quite picky about which clients can access this coverage. Examples of businesses that can easily get advertising injury insurance include:
- Art therapists
- Acupuncture services
That said, it is safe to say CL and GL are indeed the same policy no matter which angle you look at them.