What is the difference between commercial liability insurance and product liabil
Hello thank you for taking the time,
What is the difference between commercial liability vs product liability insurance?
I am a whole sale distributor and recently met a client who has requested i get liability insurance in order to proceed.
Commercial general liability (CGL) insurance protects businesses against liability claims for bodily injuries or property damage occurring on their premises, and/or as a result of their products or services. CGL policies actually typically include some product liability coverage. On a CGL policy, you should see a section for “products and completed operations” coverage, or something similar.
The reason product liability insurance is sometimes purchased separately is because a CGL policy may not give you enough coverage. For example, your CGL policy may have an aggregate coverage limit of $2,000,000 for products and completed operations. If your client requires you have at least $5,000,000, you would need an additional product liability insurance policy to fill the gap.
You can check out our article for more about product liability insurance, including costs and where to buy.
You must be logged in to reply to this topic.
Not signed in?
Sign in to participate on our website!
315 Madison Avenue, 24th Floor
New York, NY 10017
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.