deepthi sHave you ever thought about what would happen if a customer fell in your office or a product you sold damaged someone’s property?
Would your company be able to rebound and survive the financial loss?
Most company owners consider insurance just another expense. But all it takes is one claim to destroy your years of hard-earned reputation.
In this blog, we are going to explore how to choose the best CGL insurance for your business and what mistakes to avoid when seeking a CGL policy.
Mitigata: India’s Leading CGL Insurance Partner
Over the years, 800+ businesses across India have chosen Mitigata to protect what they’ve worked so hard to build. Our partnerships with top insurers like HDFC ERGO, Bajaj Allianz, and ICICI Lombard mean you get complete protection backed by credibility you can trust.
Why businesses choose Mitigata:
- Industry-specific Policies: Coverage tailored to your company’s risks and operations.
- Quick, Hassle-Free Claims: When a claim happens, you get instant support since we don’t disappear.
- Transparent Terms: Understand exactly what is covered and avoid surprises.
- Competitive Pricing: Because of our trusted insurance partnerships, we offer you the best rates.
Before renewing your policy, learn what factors are secretly raising your CGL insurance cost
Why Pay More When ₹3CR Cover Costs Just ₹15,000/Year*?
What is CGL Insurance?
Commercial General Liability insurance safeguards your business when someone, such as a customer or vendor, asserts damages or injuries related to your business operations.
In simpler terms, CGL insurance covers three major facets:
Bodily injury – If a person is injured either in your workplace or due to your services.
Property damage – If your work or one of your employees damages someone else’s property.
Personal or advertising injury – If your ad or content inadvertently injures a person’s reputation or rights.
Check out our complete guide to the 10 best Commercial General Liability Insurance providers in India.
Key Factors to Consider When Choosing a CGL Insurance Policy
Here’s what to look at before selecting a commercial general liability insurance:
Coverage Details
Start by checking what the policy actually covers. Some plans might not include certain risks like product liability or advertising injury. Go through the inclusions and exclusions carefully. If something isn’t clear, ask your insurer or consult a professional like Mitigata.
Policy Limits
Every policy has a limit on how much it will pay for a claim. A small shop might be fine with lower limits, but a company handling large contracts should go for higher coverage. The goal is to make sure the amount will be enough to protect you from a major claim.
Type of Business and Risk Level
Different industries face different risks. A contractor, for example, faces higher physical risks than a digital marketing agency. Make sure your policy is designed for your type of business.
Add-On Covers
Add-ons give you extra protection where you need it. For example, product liability cover for manufacturers or pollution liability cover for factories. It’s worth checking which add-ons make sense for you.
Claim Support and Reputation
A good policy is only as good as the support you get during a claim. Choose an insurer known for fair and quick claim settlements. Mitigata works with reliable insurers that have strong track records for customer support.
One Policy. Every Risk Covered
Common Mistakes to Avoid When Choosing CGL Insurance
A lot of business owners make simple mistakes that end up costing them later. Here are a few you should avoid.
Ignoring the Fine Print
Exclusions matter. A policy might not cover damage caused by subcontractors or accidents off-site. Always check what’s left out before you buy.
Going for the Lowest Price
It’s easy to pick the cheapest plan, but it often comes with limited coverage. It’s better to pay a little more for a policy that actually protects you when something goes wrong.
Not Reviewing the Policy Each Year
Businesses grow and change. What worked last year may not be enough today. Review your policy annually so your coverage keeps up with your operations.
Forgetting About Territory Limits
If you work with international clients or operate in multiple regions, check if your policy covers incidents outside India. Many businesses only realise this gap after a claim is denied.
Before filing your next CGL claim. Read this expertly-curated guide.
Conclusion
The right Commercial General Liability insurance policy can protect your company from significant financial losses and continuous stress.
Before making a decision, take the time to learn what your company actually requires, compare your options, and ask questions.
Contact Mitigata today and simplify your insurance journey!
akshit k
Anuj Kumar
areena g