Comprehensive general liability (cgl) policies are the business equivalent of a homeowner's policy - True
If a person's services, business operations, or personnel are at fault for property damage or physical injury or advertising injury, a Comprehensive general liability (CGL) policy will shield the firm from financial loss. Despite not covering all potential dangers, it is regarded as comprehensive company insurance. Businesses can add other businesses or people they do business with as "additional insureds" on their commercial liability insurance policy.
General liability insurance plans may pay for unintentional losses brought on by a firm's operations or the costs of defending a lawsuit. Therefore, comprehensive general liability policies are the firm's version of homeowner's insurance that shields the firm against claims of personal injury and property damage.
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