The General Liability Insurance (GLI) is an insurance that help the person to cover the cost of body injured or property damaged of the company by claiming the cost of destruction. This is also known as Commercial General Liability Insurance (CGL). The general liability insurance is an important aspect for the businessman or any company because it acts as a backbone in times of any sort of mishap.
General Liability Insurance Cover
According to general liability insurance policy, the person can opt for the coverage cost during normal business operations. If in case the person or the company has not purchased the liability insurance then the person has to pay all the amount of loss from his pocket and many of the small businesses do not have enough funds for the recovery. So it is always beneficial to have a general liability insurance cover to avoid major loss.
Following are the conditions under which a person can claim sum according to general liability insurance policy:
- Third party bodily injury: If the employee of any company gets injured by any means then the company can claim the insurance to pay for the medical bills as the insurance includes the bodily injury liability coverage.
- Third party property damage: During the company’s work if there is any sort of damage caused then this falls under the category of property damage. The insurance claim helps in repairing or replacing the property damaged.
- Reputational Harm: If there is any false statement regarding the company or the person in order to degrade the business then the insurance claim can help you by providing legal costs to defend yourself or your business.
- Advertising Injury: Whenever there is a case of copyright issue, the person can claim the insurance in order to protect the security and information of the company.
There are some conditions under which the general liability insurance does not support every kind of claim.
Following are the conditions under which the person cannot claim the liability insurance:
- If the worker or the employee is injured in any sort of work or become ill then the liability cover does not support instead compensation insurance can help the person in the coverage in this case.
- If there is any sort of damage to the property of the business owner then he cannot claim liability insurance instead can claim commercial property insurance in order to deal with it and cover the loss.
- If there is any trouble or loss in the working condition of the company due to technical issues or professional services then the person should opt for professional liability insurance for the help cover instead of general liability insurance.
So, the general liability insurance plays a vital role in the company or an organisation that helps the individual at personal level as well as an authorised level. One can easily claim the insurance whenever required, no matter the cost is.