Commercial General Liability Insurance
Businesses today have a great deal of responsibility to make sure their employees, neighbors, passersby, and customers are safe from harm – at least from harm the business can prevent. With this responsibility, it is necessary for businesses of all sizes to protect themselves and their financial interests with commercial general liability insurance, or CGL.
Otterstedt Insurance Agency offers CGL coverage that’s designed for today’s business world. We understand the needs of New Jersey businesses thanks to nearly 100 years of serving their insurance needs. We’ll work with you, by giving you an understanding of your specific risks, and how to protect against them. More importantly, we’ll help make sure you get the coverage you need at a cost you can afford.
What is Commercial General Liability Insurance?
Commercial general liability coverage assists businesses in defending themselves against third party claims that their premises, operations, products, or advertising have caused bodily injury, personal injury, or property damage.
CGL coverage is often incorporated into the standard Business Owner’s policy (BOP), along with business property insurance & business income insurance, though you should discuss the specifics of your BOP with your Otterstedt Insurance agent.
CGL coverage is also available as part of a Commercial Package policy, which can also include coverage for Buildings, Business Personal Property, Business Income, as well as other necessary coverage.
Standalone CGL coverage is available for most businesses that for whatever reason are not eligible for a BOP.
Sometimes additional coverage in the form of Excess, or Umbrella liability is needed and we can provide you with some creative options for this type of insurance as well.
Why Does Your Business Need Commercial General Liability Coverage?
Lawsuits are expensive. Regardless of the outcome of the lawsuit, lawsuits take a great deal of time to sort out in court, expensive time with the cost of hiring a lawyer. Then there is the settlement itself. If a judgment is awarded against you, the numbers can be high – depending on the situation. Without appropriate general liability coverage, the burden of paying these costs will ultimately fall on your business, and, perhaps, to you, personally.
CGL insurance helps to mitigate some, or all of the costs associated with the lawsuit. From the court costs to the settlement or judgment awards. The insurance will cover the costs up to the limits of the plan, less any deductibles outlined in your policy or policies.
Otterstedt Insurance Group Supports Your Need for Commercial General Liability Insurance
Otterstedt Insurance Agency is committed to helping New Jersey businesses meet all their commercial insurance needs, including the need for adequate commercial general liability insurance coverage. We understand the challenges you face and want to give you the tools you need to protect and defend your business when accidents happen, and lawsuits are levied.
We have served businesses throughout the state of New Jersey for nearly 100 years and are eager to see what the next century holds. We believe the fundamental reason for our longevity in this competitive industry is our commitment to you. We don’t offer one size fits all businesses policies; we take the time to get to know you, learn what you have to offer, and to understand the risks that are unique to your business and industry.
Then, and only then, do we work with you to help you get the insurance coverage that best meets those needs. We are there with you to make sure your coverage needs are explained in terms you can understand and when you need to make claims against your policy we’ll be there to help you through that process too.