1st let’s talk about WHAT General Liability is. General Liability is strictly intended to cover bodily injury or property damage (property of others) the policyholder is liable for.
For example, A common bodily injury is a slip and fall injury at a grocery store.
Property damage might be caused by a contractor that dropped a toolbox in a customer’s home and cracked the tile floor.
That’s It!! It’s the small everyday accidents that are out of our control and that we don’t always think about.
General Liability does not cover, is the loss of property owned by the business and it also does not cover many exposures a company might face.
Another example will be an auto repair shop.
An auto repair shop has many other exposures than just the general liability. General Liability will not cover damage the shop may inflict on a vehicle or improper repairs that cause a loss. For that, A particular line of coverage is needed, called “Garage Keepers” coverage (similar to “Bailees” coverage) is needed.
If a professional service provider or agent does not perform their duties properly a “Professional Liability” cover is needed to cover any resulting losses.
A bar or restaurant will need “Liquor Liability” cover to cover any losses that may have been influenced by alcohol.
When choosing an insurance agent or broker, It is very important that your agent or broker is familiar with the myriad of exposures and liabilities different businesses face.
We at CIBNV are a commercial specialty Brokerage. We have a strong focus on providing businesses with products and experiences that is unique to the commercial insurance market.