What’s Covered Under Commercial General Liability Policy?

• Property Damage – Coverage for damage to property for which you are legally liable (including rented property).
• Bodily Injury – Kicks in, in the event of injuries to persons for which you are legally liable.
• Medical Payments – Pays for a bodily injury that occurs during the course of your business operations.
• Defense Costs – Covers legal fees related to lawsuits against your company regardless of fault.
• Personal & Advertising Injury – Pays for claims of slander that are not part of your professional services.
• Products/Completed Operations Coverage – Pays for bodily injury and property damage that occurs away from your business premises and is caused by your products or completed work.

Facts About Commercial Auto Insurance?

Typically Commercial General Liability policies are auditable and contain a provision commonly called a “premium audit.” The premium paid at the inception of the policy is a deposit (estimated) premium. Auditable policies usually use estimated payroll, sales, or units sold as the premium base to calculate the deposit (estimated) premium.

The insurance company is entitled to examine your books and records to determine whether the actual payroll, sales, or units sold are greater or less than what was estimated. This is usually done after the expiration of the policy, but may also be done during the policy period. If the actual payroll, sales, or units sold is greater than was estimated, you may owe additional premium. If the actual payroll, sales or units sold is less than what was estimated, you may be due a return premium. Therefore, it is important to provide an estimate of the payroll, sales, or units to be sold that is as accurate as possible to avoid having to pay an additional premium. Our professional staff will help you with this.