Business Liability Insurance, also known as Commercial General Liability Insurance (CGL), is a type of insurance that provides coverage for a range of common risks faced by businesses. Here are some key aspects of Business Liability Insurance:

1. Coverage: Business Liability Insurance typically covers claims for bodily injury, property damage, and personal and advertising injury. This includes medical expenses, legal fees, and settlements or judgments if your business is found liable for causing harm to a third party.
2. Bodily Injury: If someone is injured on your business premises or as a result of your business operations, Business Liability Insurance can help cover medical expenses, lost wages, and legal costs if you are sued.
3. Property Damage: If your business causes damage to someone else’s property, such as accidentally damaging a client’s property during a service call, Business Liability Insurance can cover the costs of repairs or replacement.
4. Personal and Advertising Injury: This coverage protects against claims of defamation, slander, libel, copyright infringement, and other similar offenses arising from your business advertising or other promotional activities.
5. Legal Defense Costs: Business Liability Insurance typically covers the costs of defending your business against lawsuits, including attorney fees, court costs, and settlements or judgments.
6. Limits and Deductibles: Policies have coverage limits, which represent the maximum amount the insurer will pay for a covered claim. Deductibles are the amount you must pay out of pocket before the insurance coverage kicks in.
7. Exclusions: Business Liability Insurance usually excludes certain types of risks, such as professional errors, intentional acts, and employment-related claims. Businesses may need additional coverage, such as Professional Liability Insurance or Employment Practices Liability Insurance, to address these risks.
8. Cost: The cost of Business Liability Insurance varies depending on factors such as the type of business, coverage limits, location, and claims history. Small businesses can typically expect to pay annual premiums ranging from a few hundred to a few thousand dollars.

Business Liability Insurance is essential for businesses of all sizes, as it provides financial protection against common risks that could otherwise result in significant financial losses or even threaten the viability of the business. It’s important for business owners to carefully assess their risks and choose coverage that adequately protects their assets and operations. Working with an insurance agent or broker who understands the unique needs of your business can help ensure you have the right coverage in place.