A Commercial General Liability Insurance Policy Commercial General Liability Insurance Policy, also known as a CGL Insurance Policy protects you from such scenarios where a person suffers from Bodily Injury or Property Damage on the business premises or as a consequence of using the Company’s products.

In response to a query regarding the importance of a commercial general liability insurance policy, Qian's spokesperson said. "One of the most important types of insurance and a need for a business is Commercial General Liability Insurance Policy Commercial General Liability Insurance Policy. A CGL Insurance Policy provides coverage for legal liability of the Insured for any form of Bodily Injury or Property Damage suffered by a Third Party as a result of the company’s operations or Products or as a result of Injuries suffered on the Insured’s business premises.”

The spokesperson further added, "A CGL Policy provides broad coverage for Bodily Injury and Property Damage Claims suffered by third parties on the Insured’s premises or as a consequence of using the Insured’s Products. Businesses have had to spend significant amount of money defending themselves against such claims. Therefore, to safeguard itself, every business should buy Commercial General Liability Insurance Policy."

Cost of Commercial General Liability Insurance Policy

The cost of Commercial General Liability Insurance Policy in India starts at around Rs75,000 for a Limit of Liability of Rs50 Lakhs.

Following factors affect the Commercial General Liability Insurance Cost in India:

Limit of Liability: The cost of a CGL Insurance Policy with a higher limit of liability will be greater than a CGL Insurance Policy with a lower limit of liability.

Exclusions under a Commercial General Liability Insurance Policy

The common exclusions in a Commercial General Liability Insurance Policy are as follows:

1.Willful Misconduct of the Insured

2.Punitive Damages are a common exclusion under a CGL Insurance Policy.

3.Fines or Penalties is another common Commercial General Liability Insurance Policy exclusion

4.Losses arising out of the rendering of Insured’s Professional Service is also an exclusion in a Commercial General Liability Insurance Policy

Who needs to purchase a Commercial General Liability Insurance Policy?

Most businesses need to purchase a Commercial General Liability Insurance Policy since they are at a risk of getting sued for bodily injury and property damage. Particularly businesses which have a lot of customers visiting their premises or businesses which involve a lot of interactions with customers, suppliers and vendors should purchase a CGL Insurance Policy.

About Qian Insurance Broking

Qian Insurance Broking helps small and large businesses with their insurance requirements. Qian is a licensed insurance broker for a variety of insurance products such as CGL Insurance Policy, Trade Credit Insurance Policy, Directors and Officers Insurance Policy, Cyber Liability Insurance Policy, Workmen’s Compensation Insurance Poli