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  • GENERAL LIABILITY INSURANCE

Commercial General Liability(CGL)

Commercial general liability insurance, also known as CGL, is paid on behalf of an insured party to render services and compensate for negligence according to a law or contract. There are two ways to utilize commercial general liability insurance. It is available through an Occurrence Form, which provides liability coverage for loss or injury that happens during the policy period (regardless of the date on which the claim was reported), or through a Claims Made Form, which provides coverage only if, during the policy period, a written claim is made.

PLAN AND DETAILS

Prepare Home Remodeling Ideas $600 - $1150
Specify Materials $250 - $350
Paint Rooms $2.50 - $3.50 Per Square Feet
Install Interior Door $150 - $350 Per Door
Install Light Switch $100

What is Liability Insurance?

This type of insurance is designed to protect policyholders from lawsuits and other claims, which is particularly important for businesses. If the policyholder is sued for claims that took place during the policy’s coverage period, they will be protected, and should be able to avoid financial peril. There are many factors to consider before purchasing commercial and professional liability insurance policies.

WHY CHOOSE US

Commercial General Liability

Coverage

One of the key concepts of liability coverage is that it is comprehensive in nature. What this means is that the policy (insuring agreement) covers all hazards within the scope of the insuring agreement that are not otherwise excluded. It is likewise comprehensive in that it provides automatic coverage for new locations and activities of your business, which come about after policy inception and throughout the policy term. Commercial General Liability (CGL) is the standard commercial liability policy used to insure businesses. There are three primary coverage sections that make up a CGL policy: premises liability, products liability and completed operations. Premises liability covers liability for accidental injury or property damage that results from either a condition on your premises or your operations in progress, whether on or away from your premises. A products liability hazard exists for any business that manufactures, sells, handles, or distributes goods or products. The hazard being the potential liability for bodily injury or property damage that arises out of your goods or products. Completed operations covers your potential liability for bodily injury or property damage that arises out of your completed work. The major exclusions under a CGL policy include: intentional injury; insured contracts; liquor liability; workers compensation and employers liability; pollution; aircraft; automobile; watercraft; mobile equipment; war; care, custody, and control; damage to your work; impaired property; sistership liability; and failure to perform. It is always important to read and understand all coverage exclusions; however, it is particularly critical in a liability policy. If you do not understand the coverage exclusions or limitations of the CGL policy, then contact your broker-agent and discuss completely until a working understanding is achieved.

Classification

The type of business you run determines how a CGL policy is classified. Generally speaking, a specific code or codes (in some situations) are assigned based on exposures that are common to your type of business operation. The way a business risk is classified is the first step to determine premium and an important part to the rating formula. Commercial rating and premium computation will be covered later in this brochure.

Limits of Insurance

The CGL policy has separate limits of insurance for general liability, fire legal liability, products and completed operations liability, advertising and personal liability, and medical payments. An aggregate limit of liability is in force for the general liability, fire legal liability, advertising and personal liability, and medical payments claims. When total claims for all these areas exceed a stated annual aggregate limit of liability, the policy limits are exhausted and no more claims will be paid from the policy for the duration of the policy period. There is also a separate aggregate limit of liability in force for products and completed operations liability claims.

  • Financial Responsibility to Our Clients
  • Superior Quality and Craftsmanship
  • Quality and Value to the Projects We Deliver
  • Highest Standards in Cost Control
  • On Time and on Budget
  • Real Focus on Customer Satisfaction

POPULAR QUESTIONS

  • Why does a renovation project cost so much?

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  • What is the timeline for the project?

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  • What is the total budget for construction?

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  • How is renovation project initiated?

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Deductible

The amount of loss the policyholder must pay before the insurance benefits are payable.

Sunset Clause

A provision limiting the number of years a claim can be reported.

Aggregate Limit

The maximum amount a policy will pay out for a policy period or for a specific claim(s). This limit applies to damages paid for personal injury, injury to the body, damage to property, advertising injury and medical expenses, excluding damages that are included in the products-completed operations hazard.

Per Occurrence Limit

The maximum amount the policy will pay out for each occurrence of a claim.

Advertising and Personal Injury Limits

The maximum amount the policy will pay for a claim arising from advertising or personal injury, including damages that are not physical, such as libel, slander, false arrest, etc.

Damage to Rented Premises

The policy covers damage to rented space or premises, such as office space.

Medical Payments

The commercial insurance policy covers third-party medical payments caused by the insured’s negligence.

Products-Completed Operations

The business insurance policy covers the products or workmanship after a project is completed.

Insurance that pays and renders service on behalf of the insured for loss arising out of his responsibility due to negligence, to others imposed by law or assumed by contract.

Available on an Occurrence Form (provides liability coverage only for injury or loss that occurs during the policy period, regardless of when the claim is reported), Claims Made Form (provides coverage only if a written claim is made during the policy period).

Sunset Clause (provision limiting the number of years a claim can be reported).

Components: Aggregate Limit: Commercial General Liability limit that applies to all damages paid for bodily injury, property damage, personal injury, advertising injury and medical expenses, except damages included in the products-completed operations hazard. Maximum limit that a policy will pay out for a policy period or for a claim or claims.

Per Occurrence Limit: Limit the policy will pay out per occurrence of a claim.

Products-Completed Operations: Covers the products or workmanship after the project/work is completed.

Personal and Advertising Injury: Limit the policy will pay for a claim arising from personal or advertising injury. Covers claims for damages which are other than physical such as libel, slander, false arrest, etc.

Damage to Rented Premises: Covers damage to office space or rented premises.

Medical Payments: Covers 3rd party medical payments caused by the negligence of the insured.

Deductible: The amount of loss paid by the policyholder before the insurance policy benefits become payable.