Ohio General Liability Insurance

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Commercial General Liability (CGL) insurance is a critical component of any business's risk management strategy. In Ohio, as in other states, CGL insurance provides coverage for claims of bodily injury, property damage, and personal and advertising injury that could arise from your business operations. Understanding the nuances of this insurance policy can help Ohio businesses protect themselves from potentially devastating financial losses.

Commercial General Liability insurance is a type of policy that protects businesses against claims of bodily injury or property damage that occur on their premises, from their operations, or from their products. It also covers claims of personal and advertising injury, which can include slander, libel, and copyright infringement.

This insurance is essential for businesses of all sizes and industries. Without it, a single claim could result in financial ruin, especially for small businesses. Even if a claim is unfounded, the cost of legal defense can be substantial. A CGL policy can help cover these costs, protecting your business's financial health.

While Ohio law does not specifically require businesses to carry CGL insurance, it is highly recommended. This is because, in the event of a lawsuit, Ohio follows a comparative negligence rule. This means that even if your business is only partially at fault for an injury or damage, you could still be held financially responsible for a portion of the damages.

Additionally, certain industries or professions may be required by regulatory bodies or contractual agreements to carry specific amounts of CGL insurance. For example, construction companies often need to show proof of insurance before they can obtain certain permits or contracts.

Minimum Coverage Limits

There are no set minimum coverage limits for CGL insurance in Ohio. However, most small businesses opt for a policy with a per-occurrence limit of $1 million and a general aggregate limit of $2 million. This provides a good level of protection without being prohibitively expensive.

It's important to note that these are just guidelines. The right coverage limits for your business will depend on a variety of factors, including your industry, the size of your business, and your risk tolerance.

Once you've obtained your CGL insurance policy, it's important to understand what it covers and what it doesn't. Your policy will include a declarations page, which outlines your coverage limits, deductible, and premium. It will also include a policy form, which details the specific coverages included in your policy.

While CGL insurance provides broad coverage, there are certain exclusions. For example, it typically does not cover intentional acts, contractual liabilities, or damages resulting from professional services. Depending on your business's needs, you may need to purchase additional policies, such as professional liability or commercial auto insurance, to fully protect your business.