Protect your growing Ontario business from financial liability and the costs associated with defending potential lawsuits with commercial general liability insurance.
Our policies will also help protect you from allegations of negligence for bodily injury to others or property damage of others arising out of your operations, products or services. Our expert brokers will provide you with the sound advice to protect your business.
Often contracts with your landlord, clients, lenders or the government require evidence of commercial liability insurance. We can arrange specialized coverage needed for your Ontario business.
What is Commercial General Liability Insurance?
Commercial general liability insurance covers the cost of defending lawsuits that arise from a person outside your company being injured or having their property damaged by something your company or employees did or failed to do.
This type of insurance also pays damages and medical payment resulting from such lawsuits. Commercial general liability insurance can also protect your Ontario business if you are sued for slander or defamation of character.
Any time you meet a client or potential customer face-to-face or handle equipment that belongs to them, you have the potential for a liability lawsuit. Don’t risk the business you’ve built so carefully by not insuring against such lawsuits.
To learn more about protecting your Ontario business from liability claims, contact CCV Insurance today!
Commercial General Liability Insurance Claim Examples
Commercial general liability claims are some of the most common claims a business could face and are oftentimes the claims that take businesses the most by surprise.
Commercial general liability insurance provides coverage for premises liability, when accidental injuries occur to third parties (i.e., vendors, customers, visitors) that injure themselves at you’re a business location; completed operations liability, when property damage or injuries occur on someone else’s property when an employee is delivering services or goods to a customer; product liability, when the goods a company produces or repairs cause damage or injury; and personal or advertising injury liability, when you’re a business is accused of libel, slander, or defamation.
The following claim examples could be covered by a commercial general liability insurance policy.
Example 1: Premises Liability
Your store has a long winding set of stairs that lead up to the shop. The stairs are metal, so when it rains, they can get quite slippery. After it rained overnight, an employee forgot to put up a sign for wet surface, and a customer coming up to your store slips and fails. They end up filing a lawsuit against your business for the injuries they suffered due to the accident.
Bodily injury claims, like slips-and-falls, can cost anywhere between $10,000 to $50,000. The amount can vary depending on the exact case and it can increase depending on the degree of negligence on the part of your business as well as the extent of injuries that the third party sustained.
Example 2: Product Liability
Your business manufactures car seats for young babies and toddlers. Unfortunately, there was a defect in the design of a particular car seat and a customer sues your business due to a failure of the seat to protect their child, resulting in serious injuries. They sue you for their child’s injuries sustained by the defective product.
Some businesses that deal in the selling of products may also need to purchase additional product liability insurance, beyond the amount that is offered in commercial general liability insurance. Product liability claims can be quite expensive, and you may need to consider the addition of product recall insurance to include coverage for recall costs.
Example 3: Completed Operations Liability
You own a roofing company, and you send one of your employees to do a job at a client’s home. While the job begins without a hitch, your employee makes a mistake and a portion of the eavestroughs come loose and fall onto the customer’s car, damaging it. The customer holds your roofing company liable for the damages to their car.
Completed operations liability is included in your commercial general liability insurance and can cover instances like these. This insurance is helpful for any business that conducts work offsite or delivers goods to customers.
Commercial General Liability Insurance Exclusions
Now that you’ve seen a few examples of what commercial general liability insurance can cover, it is just as important to familiarize yourself with the policy exclusions. Commercial general liability insurance will not cover any of the following (but note, many of these can be covered by other forms of commercial insurance):
- Intentional damages
- Physical damage to business property
- Professional services (like advice or consulting)
- Cyberattacks and data breaches
- Commercial auto liability
- Intoxication-related accidents
- Breakdown of business equipment
For a fully comprehensive business insurance policy that includes not only commercial general liability insurance, but all the types of coverage your business needs to be insured, contact CCV Insurance. Our expert commercial insurance brokers will tailor a policy specific to your company needs.