SBI Commercial General Liability Insurance

SBI Commercial General Liability Insurance protects your business from legal claims resulting from third-party injuries, property damage, or advertising issues caused by your operations or products. It offers financial security and helps your business run smoothly, free from the worry of unexpected legal troubles.

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Features of SBI Commercial General Liability Insurance

The features of the SBI Commercial General Liability Insurance are as follows:

Two-Part Coverage: The SBI CGL Insurance Policy comprises two sections: Public Liability (Section 1) and Product Liability (Section 2). Depending on your specific business needs, you may choose both or either of them.
Protects Products and Premises: This policy protects your business against risks arising from your products, work premises, and day-to-day business operations.
Optional Add-Ons: For extra protection, you may pay more to include additional coverages tailored to your specific risks.
Comprehensive Coverage: It offers a vast extent of coverage, including bodily injury, property damage, and personal and advertising injuries.
Extended Reporting Period: It provides up to 60 days (extended reporting window) to report unnotified claims if the policy ends for reasons other than non-payment of premiums.

SBI Commercial General Liability Insurance Inclusions

The inclusions under the SBI CGL Insurance policy are as follows:

Bodily Injury and Property Damage: The policy covers liabilities arising from third-party injury or property damage caused by the following reasons:
Flaws in your products after they leave your premises
Accidents on your premises
Work-related incidents outside your site, not involving products
Personal and Advertising Injury: It covers issues like libel (defamation) or copyright violation in advertisements.
Legal Defence Costs: It covers all costs, fees, and expenses that your business incurs for investigating, defending, or settling a claim.
Medical Payments: The policy also pays for medical expenses of third parties injured on your business premises, regardless of fault.
Cross Liability: The policy treats each insured entity as a separate party. This allows for claims made by one another (except for the named insured) to be covered. However, the total payout will not surpass the policy's overall limit.

Disclaimer: This is not a complete list. Please read your official policy documents carefully for full details on all inclusions.

Explore Types of Liability Insurance

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SBI Commercial General Liability Insurance Exclusions

Certain scenarios are not covered under the SBI Commercial General Liability Insurance, including:

Intentional Acts: It excludes obligations stemming from intentional actions causing harm.
Contractual Liabilities: The policy does not cover contract-based liabilities unless they exist independently or are specifically mentioned in the Policy Schedule.
Employee Injuries: It does not include injuries to employees. These are generally covered under Workers' Compensation Insurance.
Pollution: It excludes liabilities due to pollution unless resulting from a sudden and accidental event.
Professional Services: The policy does not cover claims arising from hiring professional services like consulting or advisory roles. Such exposures are typically covered under a separate Professional Indemnity Insurance.
War and Nuclear Risks: It excludes damages resulting from war, terrorism, or nuclear incidents.
Fines: The policy does not cover fines, penalties, or punitive damages.
Pre-coverage products: The policy does not include products that were left out of your control before the insurance period kicked in.

Disclaimer: This is not a complete list. For full details on all exclusions, please refer to your official policy documents.

SBI Commercial General Insurance Claim Process

Here's how the claim process works:

Notify SBI General Insurance: As soon as an incident happens, report to SBI General Insurance via email.
Submit Necessary Documents: Provide all necessary documentation to support your claim.
Investigation and Assessment: SBI General will review the documents once the claim is reported. They may assign a surveyor or investigator to assess the situation.
Claim Decision: After evaluating your claim, SBI General Insurance will either approve or reject it, depending on policy terms and coverage.
Settlement: If the claim is approved, the company will compensate you per your policy's terms and limits.

FAQs

Q1. Who should buy SBI CGL Insurance?

Ans: Any business, irrespective of its size or industry, that involves third parties (clients, vendors, or the general public) should consider buying this policy.
Q2. Can I customize the policy?

Ans: Yes, you can tailor the policy by selecting appropriate coverage limits to suit specific operational risks.
Q3. How is the premium determined?

Ans: Premiums are based on factors like the nature of the business, turnover, risk exposure, and selected coverage limits.
Q4. Is there a waiting period for claims?

Ans: While there is no standard waiting period, timely intimation and documentation are crucial for hassle-free claim processing.
Q5. Does the policy also cover advertisement-related issues?

Ans: Yes, it protects against slander, libel, and copyright violation in advertisements.

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Disclaimer: Above mentioned insurers are arranged in alphabetical order. Policybazaar.com does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

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Policybazaar for Business - Comprehensive Liability Insurance - Customer Reviews

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out of 5

Based on 27 reviews

1 users

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4.3 April 09, 2023

Shubh

Competitive Premiums

The premiums offered by PolicyBazaar for the Comprehensive General Liability Insurance are competitive, considering the extensive coverage and top-notch customer service they provide.Truly recomend it.

Ludhiana

4.3 March 28, 2023

Prakhar

Worth Buying

PolicyBazaar worked closely with me to tailor the coverage to meet the specific needs of my business.Worth buying.

Dehradun

3.8 March 16, 2023

Veer

Wide Coverage

One of the most significant aspects of this insurance is its coverage. It provides extensive protection against a wide range of liabilities, including bodily injury, property damage, etc. Thanks for the policy PB

Lucknow

3.8 March 04, 2023

Akash

Peace Of Mind

I have been a satisfied customer of PolicyBazaar for several years now. It offers a comprehensive and reliable safety that has given me peace of mind and allowed me to focus on growing my business without constant worry about unforeseen events.Thankyou PB.

Bareilly

3.8 February 20, 2023

Ram

Claim Process Is Hassle Free

PolicyBazaar's claims process is efficient and hassle-free. In the unfortunate event of a claim, they handled everything swiftly and professionally, ensuring a smooth resolution without unnecessary delays. This reliability and promptness have further strengthened my trust in their services.Thankyou.

Delhi

4 February 20, 2023

Rohan

Great Customer Support

PolicyBazaar can help you get your Insurance as I am in the construction Industry and needed some guidance on risk concerns. I contacted PolicyBazaar Team, whO explaned to me the process to get the Insurance. Thank you PolicyBazaar.

Jamshedpur

3.8 February 16, 2023

Aditi

Damages Covered

I recently purchased CGL insurnace from PolicyBazaar. They helped me to cover my damages. Thankyou.

Jamshedpur

4 February 12, 2023

Neha

Helpful Team

We were looking to buy Comprehensive General Liability Insurance Plan that protects Third party property from any accidental damage at my workplace. So we landed on the PolicyBazaar website. It was well managed and described all the benfits in detaill... We contacted their Customer support and dcided to buy from them. Thanks, PolicyBazaar Team

Coimbatore

3.8 February 08, 2023

Veer

All In One Platform

It is an All in one platform which provided me unique perks, Low premium prices and a fast claim settlement process. Thankyou PB. Excellent platform.

Vadodara

4.3 February 04, 2023

Amar

Good Package

Got a really good coverage. Thanks, PolicyBazaar

Lucknow

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The details of insurance coverage, inclusions and exclusions are subject to change as per solutions offered by insurance providers. The content has been curated based on the general practices in the industry. Policybazaar is not responsible for the factual correctness of these details.

SBI Commercial General Liability Insurance

Features of SBI Commercial General Liability Insurance

SBI Commercial General Liability Insurance Inclusions

SBI Commercial General Liability Insurance Exclusions

SBI Commercial General Insurance Claim Process

FAQs

Q1. Who should buy SBI CGL Insurance?

Q2. Can I customize the policy?

Q3. How is the premium determined?

Q4. Is there a waiting period for claims?

Q5. Does the policy also cover advertisement-related issues?

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