What is Comprehensive General Liability Insurance?
Comprehensive General Liability (CGL) Insurance is a type of insurance that financially protects the Assured and or their businesses against various liability risks (Excluding punitive or exemplary damages) that may arise as a result of Bodily Injury and/or Property Damage to Third Parties occurring in connection with the Insured’s business premises or declared location.
- Bodily Injury Liabilities – This covers the insured against the legal liabilities they incur for damage to other’s (including death) to other persons caused by the accident arising out of the hazards insured against.
- Property Damage Liability – This covers the insured against the legal liabilities they incur for the damage to others property including the loss of use caused by accident and arising out of any hazards insured against.
Examples of businesses covered by CGL Insurance are motor electric shops, machine repair shops, hotels, restaurants, resorts, spas, and others with similar operations.
Why Do You Need Comprehensive General Liability Insurance?
Here are some reasons for needing Comprehensive General Liability Insurance.
Risk Mitigation:CGL Insurance is necessary to reduce the risks related to various liability scenarios, such as accidents, injuries, and property damage.
- Legal Protection:The policy supports you in paying out legally required compensation to third parties in the event of accidental injuries or death to them.
- Business Continuity:Protected by a CGL Insurance Policy, your business can avoid significant liability-related financial losses, thus ensuring smooth functioning.
- Customer/Client Peace of Mind:Your clients and customers will feel more secure doing business with you knowing that you are financially secured by CGL Insurance.
Types of Comprehensive General Liability Insurance Policies
The following are the types of Comprehensive General Liability Policies available with SGI Philippines.
Premises-Operations Hazard
Insured’s losses and third party liability occurring within his premises and business operations
Elevator Hazard
Insured’s third party liability as a result of accidents to elevators he owns and operates
Independent Contractor’s Hazard
This involves third party liabilities from the work performance for the insured by independent contractors and omissions or acts of the insured in supervising this work
Products Hazard
This pertains to consumption handling, use of manufactured goods, sold, handled or distributed after the insured relinquished possession of them. This also includes accidents arising out of the work completed by the insured outside his premises like billboard, neon lights or telephone poles installed.
Contractual Hazard
This pertains to the obligations assumed by the insured in a written contract which is specifically covered by the policy and made part of it.
Why Choose SGI Philippines or Your Comprehensive General Liability Insurance Needs?
Affordable Insurance Plans
SGI Philippines offers insurance plans that are both budget-friendly and meet your needs.
Reliable Claim Support
Receive dedicated support from our team throughout the claim journey.
Extensive Coverage
Insure with us and receive adequate coverage for all your insurance needs.
Documents Required for Filing a Comprehensive General Liability Insurance Claim:
After notifying us about the incident, ensure that you submit the following documents while raising a claim.
- Incident Report / Accident Report/ Narration of the Accident
- Policy Copy / Contract from the Insurer and Official Receipt that policy has been paid.
- Pictures of the damages / for the property / bodily injury of the claimant
- Medical Certificate / findings
- Official Receipts for the medical expenses of the 3rd Party Bodily Injury Claimant
- Death Certificate if following the accident the claimant died
- Government IDs for reference
Comprehensive General Liability Insurance Coverage
Here are the inclusions under our CGL Insurance policy.
01.
Bodily Injury Coverage
Protection against claims for physical injury to a third party occurring on the insured premises or as a result of the insured’s business operations.
02.
Property Damage Coverage
Coverage for damages to third-party property caused by the insured’s business operations or within the insured premises.
03.
Defense and Litigation Expenses
Right and duty to defend any suit against the Insured seeking damages on account of such bodily injury and property damage.
04.
First Aid Payments
Will pay, in addition to the applicable limit of liability, all expenses incurred by the Insured for first aid
01.
Vehicle Liability
Coverage for liabilities related to the use of vehicles is typically excluded from a CGL Policy and requires a separate commercial auto insurance policy.
02.
Pollution Claims
CGL Policies usually exclude coverage for liabilities related to pollution, which may require a separate environmental liability policy.
03.
Contractual Disputes
Claims arising from contractual disputes or breaches are generally not covered under CGL Policies.
04.
Professional Liability
Errors and omissions related to the insured’s professional services are excluded from CGL Policies.
How to Choose the Right Comprehensive General Liability Insurance Policy
Consider the following factors when selecting Comprehensive General Liability Insurance.
Identify Potential Risks
Before buying a CGL Insurance Policy, take some time to analyze the potential liability risks your business is exposed to, such as product-related liabilities, premises-related risks, or liabilities arising from completed operations.
Understand Policy Coverage
Learn the coverages applicable to a CGL Insurance Policy. This will help you align your business-specific risks with the policy’s offerings.
Adequate Coverage Limits
Ensure that the coverage offered under the policy is sufficient to cover the liability risks your firm is exposed to.
Learn the Claim Process
Understand the insurance company’s claim process. This will give you an idea of how easy or difficult it will be to raise a claim if the need arises.
Check Insurer Credibility
Ensure that you buy CGL Insurance from a reliable provider like SGI Philippines to avoid receiving sub-par coverage when you make a claim.
Key Features of Comprehensive General Liability Insurance
- Payments of Indemnity to a Third Party outside the contract/policy for damages caused to that party (the Third Party) by the Insured/Assured.
Benefits of Buying Comprehensive General Liability Insurance
- Designed to protect the Insured/Assured from liability exposures against third party claims.
- Transfers the burden of potential financial liabilities from the Insured to the Insurer.
- Assures the Insured, to some extent, that losses due to these liabilities are limited to the annual premium amount paid, which is relatively negligible.
How to Buy/Renew Comprehensive General Liability Insurance
- For Business Permit Requirements – Fill out an SGI Philippines application form downloadable from this website. Basic information like the following is necessarily needed and should provided by the insured.
-
Name of Assured
-
Business Name
-
Location of Risk/Business Address
-
Nature of Business
-
Floor Area
-
Other contact information
How to File a Comprehensive General Liability Insurance Claim at SGI Philippines
To raise a claim, first contact SGI Phils.’ Claims Team to initiate the claim process. Receive assistance and guidance from the claims team regarding the necessary steps and required claim documents. Follow this proactive approach to ensure a smooth and efficient claims process, offering clarity and support during this potentially stressful time for policyholders.
How to Download Your Comprehensive General Liability Insurance Policy Copy
Here are the steps to download your Comprehensive General Liability Insurance policy copy from SGI Philippines’
Step 1:
Purchase Motor Insurance from SGI Philippines and make the payment via bank transfer or direct deposit to SGI Phils.’ bank account.
Step 2:
After receiving your payment, SGI Phils. will send a PDF File of the policy to your designated email address.
Step 3:
Check your email for the policy document and download or print it based on your preference.
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Key Features of Comprehensive General Liability Insurance
- Payments of Indemnity to a Third Party outside the contract/policy for damages caused to that party (the Third Party) by the Insured/Assured.
Benefits of Buying Comprehensive General Liability InsuranceÂ
- Designed to protect the Insured/Assured from liability exposures against third party claims.
- Transfers the burden of potential financial liabilities from the Insured to the Insurer.
- Assures the Insured, to some extent, that losses due to these liabilities are limited to the annual premium amount paid, which is relatively negligible.
How to Buy/Renew Comprehensive General Liability Insurance
- For Business Permit Requirements – Fill out an SGI Philippines application form downloadable from this website. Basic information like the following is necessarily needed and should provided by the insured.
Name of Assured
Business Name
Location of Risk/Business Address
Nature of Business
Floor Area
Other contact information
How to File a Comprehensive General Liability Insurance Claim at SGI Philippines
To raise a claim, first contact SGI Phils.’ Claims Team to initiate the claim process. Receive assistance and guidance from the claims team regarding the necessary steps and required claim documents. Follow this proactive approach to ensure a smooth and efficient claims process, offering clarity and support during this potentially stressful time for policyholders.
How to Buy/Renew Comprehensive General Liability Insurance
- For Business Permit Requirements – Fill out an SGI Philippines application form downloadable from this website. Basic information like the following is necessarily needed and should provided by the insured.
Name of Assured
Business Name
Location of Risk/Business Address
Nature of Business
Floor Area
Other contact information
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Documents Required for Filing a Comprehensive General Liability Insurance Claim:
After notifying us about the incident, ensure that you submit the following documents while raising a claim.
- Incident Report / Accident Report/ Narration of the Accident
- Policy Copy / Contract from the Insurer and Official Receipt that policy has been paid.
- Pictures of the damages / for the property / bodily injury of the claimant
- Medical Certificate / findings
- Official Receipts for the medical expenses of the 3rd Party Bodily Injury Claimant
- Death Certificate if following the accident the claimant died
- Government IDs for reference
Why Choose SGI Philippines or Your Comprehensive General Liability Insurance Needs?
Affordable Insurance Plans
SGI Philippines offers insurance plans that are both budget-friendly and meet your needs.
Reliable Claim Support
Receive dedicated support from our team throughout the claim journey.
Extensive Coverage
Insure with us and receive adequate coverage for all your insurance needs.
Frequently Asked Questions
The name insured/s refers to an Individual or a Business’s Legal Name.
Premises and operations exposures.