Businesses face unexpected risks, but general liability insurance protects the business owner from financial losses resulting from injury to customers on their property or damage to their team real estate on the other hand. “Commercial” means coverage is for businesses, and “liability” indicates incidents for which the business owner or its employees may be responsible, either directly or through neglect to provide a safe environment. Say no to plagiarism. Get a Custom Essay on “Why Violent Video Games Should Not Be Banned”?Get Original EssayCommercial liability insurance covers the business owner for actions brought by the injured party. Although there are many exclusions to warranty, in general, CGL will pay for damages caused to a person by negligence, accident or error that causes harm to a customer, customer or even a passerby. Additionally, damage caused to property by the business owner or its employees may be covered. There are limits to commercial liability insurance policy limits. The policy offers a per event limit, as well as a lifetime limit. If the business owner makes a claim for damage to a customer's car when a worker copies a truck there, that counts as an occurrence and the payout should limit the life of the policy. the list of excluded damages may be much longer than the list of covered damages. If the business owner suffers damage to their equipment, construction or inventory, the CGL policy may not cover the costs. Additionally, we will not pay doctors for an employee injured on the job if the owner does not have sufficient workers' compensation insurance. Additionally, the policy cannot cover the owner for financial loss resulting from accusations of slander or harassment. Since policies vary from insurer to insurer, the business owner should compare exclusions carefully. Cost The cost of a commercial liability insurance policy depends on the level of protection required by the business owner and the number of employees who have it. For a small company with one or two workers and no recent claims, the costs could be a few hundred dollars, while a large construction company with many workers could pay tens of thousands of dollars each year for coverage. Keep in mind: is just a sample.Get a custom paper from our expert writers now.Get a Custom EssayConsidering the considerations along with other insurance policies, business owners can shop around for get the best rates. Since general liability insurance only covers a narrow range of claims, the business owner must carry additional insurance to cover damage to your own business, vehicles, inventory and property. employees..