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Commercial and Contractor General Liability Insurance
General liability insurance, sometimes called commercial general liability (CGL) insurance or contractor general liability insurance, is a class of insurance that provides liability protection to businesses in the case of bodily harm or property damage during the course of business. Insurance providers create various versions of these policies available to professionals in construction and for construction projects. Whether you are the property owner, a construction company, or a contractor, liability insurance policies are available to protect policyholders from unnecessary risk. So often, these plans will be advertised as Contractor General Liability Insurance or General Liability Insurance for Builders.
General liability insurance policies will usually cover a broad range of damages, including:
- Faulty workmanship
- Job-related injury
- Advertising injury / defamation
Contractors or developers may actually be required to have a minimum level of liability insurance either by law in some states or to win certain contracts that require it. Companies who complete many design-build projects will definitely want to have liability insurance in case they are sued for mistakes. Also, subcontractors are frequently required to carry liability insurance in order to work for certain general contractors.
General liability insurance policies are available through various providers for the following types of businesses:
- Residential general contractors (RGC)
- Developers
- Remodelers
- Light commercial general contractors
- Trade / specialty contractors (HVAC, electrical, plumbing, etc)
Like Builders Risk and other types of insurance coverage, certain exclusions are likely to be defined in the policy, protecting the insurance company from having to cover certain types of damages or incidents.
It is wise to have a commercial auto insurance policy, even if you use your personal vehicle for business. Keep in mind that most personal auto insurance policies will exclude accidents while using your vehicle for business purposes from coverage.