How can I find and compare a good commercial liability provider?
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Asked April 12, 2015
Commercial General Liability is the most type of business insurance. It protects business owners against bodily injury, property damage, as well as protection for personal and advertising injury such as false advertising or slander. CGL policies are often supplemented with excess liability coverage in the form of umbrella liability policies to cover damages above the CGL policy limits. To find good coverage at an affordable price, you would probably do better to use an independent agent or brokerage rather than going through a dedicated or captive, agent.
CGL insurance and other business-related policies are available from most major insurance companies, but you may not be able to get the best deal by shopping through a single company. Instead, use the free online quote offered through this website to shop for coverage through several different insurance companies. This allows you to shop multiple providers from a single location, and offers you competing quotes for the same coverage rather than only having one policy line as a single company would offer.
Independent agents and brokers such as this site work directly for the insurance buyer, where dedicated agents receive payment based on sales for the company they represent. The difference between the two is that a dedicated agent makes money simply by selling a policy, and an independent agent earns money by having a happy customer.
Not all insurance companies are licensed in all states. Check with the Department of Insurance in your state to find out whether a particular provider is licensed to sell CGL coverage in your area. Additionally, check the financial status of the company with a ratings company such as the A.M. Best Company to make sure you are buying from a company with a sound financial foundation.
Answered April 15, 2015 by Anonymous