What Does Comprehensive General Liability Policy Mean?
A comprehensive general liability policy is an insurance policy, commonly held by companies, that covers many different types of liabilities. Companies buy this insurance to protect against damages from lawsuits in the event that they are held liable for a loss. Comprehensive general liability policies can cover a variety of things, such as product liabilities, injuries on premises, and operations liabilities.
Insuranceopedia Explains Comprehensive General Liability Policy
Companies generally try to make their products and premises safe. However, accidents can still happen. Without a comprehensive general liability policy or similar insurance product, the liabilities associated with these accidents could easily bankrupt companies. Comprehensive general liability polices protects against this possibility. These policies, however, usually don't cover vehicle liabilities. To get vehicle liability coverage, companies have to purchase certain types of auto insurance from an auto insurance company.