Commercial General Liability Insurance in Ontario
When you run a business, you have enough on your plate to worry about. Your liability insurance shouldn’t be a part of that worry. At James Campbell Insurance, our commercial insurance brokers understand the ins and outs of business insurance in Ontario. We have the expertise to know what questions to ask to make sure that your business receives the best possible coverage at the best possible price.
What is Commercial General Liability Insurance?
Commercial general liability insurance, abbreviated to CGL insurance, is designed to protect your business from common risks that occur in your business’ day-to-day operations. Business liability insurance will protect the financial interests of your company. It also protects business owners in situations where they face formal lawsuits or third-party claims.
These business liability insurance policies will cover the direct financial liabilities that might incur and any expenses associated with your legal defence. Our insurance brokers will assist you in getting the insurance policy that best fits your business’ situation.
Here are a few examples of business risks you should consider:
- Premises & Operations Exposure
- Product Liability Exposure
- Completed Operations Exposure
- Personal Injury Exposure
Commercial General Liability Insurance Coverage Examples
These are some examples of the times where commercial general liability insurance can help protect your business:
Third-Party Bodily Injury
Any individual might make a claim against your company if they are injured while on your business’ premises. Your commercial general liability insurance would help you cover the costs of a physical injury claim.
Third-Party Property Damage
If you, a client, or employee cause damages to a third party’s property you could be held responsible. For example, if an employee of yours accidentally damages a client’s flooring after spilling a can of chemicals, your commercial liability insurance can help cover the costs of repairing the flooring if your employee and business are found at fault after a claim is made.
Reputation Harm
If another company thinks that their reputation was harmed due to something you, your employee, or your business operations caused, they could choose to make a claim against your business. For example, if you create a social media post promoting your company and make derogatory comments about your competitors in the post, one of these competitors might see the post and make a claim against your business for slander. In this situation, your commercial general liability coverage would cover the costs of this legal dispute.
Product Liability Insurance
Product liability insurance protects you against any claims related to the use of your products. Business owners rely on this type of coverage to protect them against situations where their product does damage to a person or property which results as a result of your product. It’s important to keep in mind that product liability insurance will not provide coverage for faulty or defective design unless it causes bodily injury or property damage.
If you are unsure of whether or not something will be covered, you can always contact us to ask.
Who should get Commercial General Liability Insurance?
As the owner of a business, you will be in situations with many third parties. This includes clients, vendors or other businesses who might be involved in an accident or claim that your business caused them losses or damages.
You will need commercial general liability insurance if you:
- Have an office space or clients visit you at your home;
- If you visit your client’s office space or home;
- If you have staff who conduct business operations off-site.
What is not covered by Commercial General Liability insurance?
While it is useful to understand what is covered under your general liability insurance policy, it’s equally as important to understand what isn’t. Commercial general liability insurance typically won’t provide coverage for the following:
- Liability claims other than bodily injury or property damage caused by negligent acts;
- Contractual liability;
- Intentional criminal acts;
- Injuries to employees;
- Physical damage to your company’s property;
- Intentional acts to cause bodily injury or property damage;
- Patent infringement;
- Motor vehicles or automobiles (you would need an Automobile Insurance policy);
- Injury or damage caused by operating a vehicle;
- Injury or damage as a result of carrying out a professional service or providing professional advice; (you would need errors and omissions insurance also known as professional liability insurance)
- Financial losses due to your service or advice.
Are there any other insurance coverages you should supplement with Commercial General Liability Insurance?
When putting together your comprehensive insurance policy for your company, there are many other types of insurance that you should consider as a business owner to protect yourself against third-party liability lawsuits or claims.
You might think about exploring the following business insurance policies for more specific coverage information:
- Professional Liability Insurance
- Product Liability Insurance
- Commercial Property Insurance
- Cyber Liability Insurance
- Directors and Officers Insurance
- Commercial Auto Insurance
Why Choose James Campbell Insurance for Your Commercial General Liability Insurance Needs?
At James Campbell, we put you first. Our clients are our top priority and the backbone behind everything we do.
We can help provide you with protection from insuring your first car, your first home or business or even giving you protection during your retirement travels. Whatever you need coverage for, we’ve got your back. We will make sure that you are ready to live a life free of stress or worry so you can focus on life’s important moments each and every day.
James Campbell Insurance Brokers have been taking care of our members for over 40 years. This is why we are able to make insurance easy by offering you the right solutions at the right times. Our solutions are tailored to fit your individual needs, no matter what they may be.
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FAQs
If you are interested in lowering your insurance premium, speak with your insurance broker about the following:
- Increasing your deductible (your share of the cost of a claim). By increasing the amount of the deductible you are willing to pay, you will decrease your premium;
- Dropping your collision coverage on an older car;
- Bundling your car and home insurance with other types of insurance with the same insurance provider;
- Buying a car with a lower-cost insurance rating.
For an Auto Insurance quote, your driver’s license number, insurance history and driving records are important factors in getting an accurate quote. For a Home Insurance quote, details on the home, such as year built, square footage, style of home and updates on the roof, electrical, heating, and plumbing are all important factors in determining the premium. Additional factors, such as acreage, swimming pools and ponds all play a role in determining the coverage you will need along with the premium.
