If you’re an entrepreneur, contractor or owner of a small business, you need Commercial General Liability (CGL) Insurance - no ifs, ands or buts about it.

When it comes to business insurance, this is the baseline and first type of policy you should purchase. It gives business owners peace of mind in knowing that in the case of an accident - such as someone slipping and falling on their property - their business is protected.

On a day to day basis, it’s likely that you and your employees are interacting with many people - such as clients, vendors and contractors, to name a few. Any one of them could experience an injury or loss. If your business is the cause they can file a lawsuit against it.

CGL is a business insurance policy that is applicable to most contractors and business owners because it protects them. When a business has this type of insurance policy, they're covered when it comes to claims of bodily injury, associated medical costs and damage to property that occurred as a result of your business operations.

It also covers legal defense costs, along with settlements and judgements should you be successfully sued. If you are a tenant who causes damage to a property that you rent (like, for example, a fire), that’s another situation where under a CGL policy, you’d be covered. Lastly, these types of policies cover claims of false or misleading advertising. That could include libel, slander or copyright infringement.

This type of insurance is often referred to as “Business Liability Insurance” or “Commercial Liability Insurance.” Call it whatever you’d like, but just make sure you have this policy in place - because not doing so could prove very costly.

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