Contractors General Liabilty Insurance
Contractors General Liability (CGL) insurance helps protect your assets by providing a first line of defense against a variety of claims for alleged negligence or wrongdoing. By covering the cost of defending or settling these claims.
Type of Coverages
CGL covers six basic categories of business liability:
Physical harm to a person at your place of business, or an injury caused by your employee at a client's site.
Completed Operations/Products Liability
Losses after your business has completed work for a customer (such as repairing appliances or installing plumbing), or from manufacturing and distributing products.
Damage to the reputation or rights of a person or business due to slander, libel, copyright infringement, invasion or privacy, false arrest, wrongful eviction, etc.
Losses caused by your advertising (spoken or written); for example, an ad that trashes a competitor.
Independent Contractors Liability
Damage from the acts of an independent contractor hired by your business.
Pays the medical expenses of a person injured on your premises (a customer, client, visitor, or even a trespasser) up to a stated amount, regardless of fault — as a goodwill gesture to prevent lawsuits.
Your CGL will pay three types of damages:
For intangible losses ("pain and suffering.” “mental anguish,” etc.)
Financial losses of the claimant, plus additional monetary losses resulting from the claim.
Penalties against your business for committing a wrongful act.
Although CGL insurance provides a wide range of protection for your business, it won't pay liability claims related to these areas:
On-the-job injuries to employees (Workers Compensation can cover this);
- Operating autos or trucks in your business (Commercial Auto can cover this);
- Performing, or failing to perform, professional services
(Professional Liability/E&O can cover this);
- Acts as a corporate director or officer (D&O Policy can cover this);
- Pollution (Environmental Liability policy can cover this);
- Damage to property of others in the care, custody and control of your business.
- For example, an electronic repair shop storing customers' televisions;
- Products, such as food items or toys, subject to recall.
As a professional, you will be held accountable for your services. Acquire contractors insurance from SOS Insurance and protect your assets against a range of claims such as negligence or alleged wrongdoing.
The CGL also excludes coverage for losses related to war, terrorism, or nuclear events.
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