What is Commercial General Liability?
Commercial General Liability (CGL) insurance protects against legal liability claims made by third
parties who claim you have caused them financial or physical damage in the course of your
general business services, not from services specific to your profession. CGL
policies often include coverage for liability and medical expenses, medical expense (to any one
person), personal and advertising injury (slander & libel claims) and damages to business
premises rented by the insured. Other sub-coverages may also be offered.
For questions, an application, or a free analysis of your liability coverage, please contact:
Do You Need CGL Insurance?
More banks and lenders have started to include CGL as one of their contract requirements from real estate appraisers. Whether or not it is required, a CGL policy combined with a suitable E&O policy can broaden an appraiser’s protection from loss and risks.
LIA's Advantages
- Unrivaled customer service
- The quality of our insurance coverage is unmistakable
- On staff & in house legal team
- Advocates and educators for the appraisal industry
- LIA is truly in your corner when you need us the most
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Commercial General Liability Examples
- An appraiser allegedly leaves a stove on during an inspection for an FHA assignment. The kitchen burns down causing extensive damage to the house.
The homeowner's fire insurer pays to repair the damage but then seeks recovery from the appraiser.
- An appraiser lets a fenced-in dog loose which attacks and kills another pet.
- A third-party trips over an appraiser's measuring wheel and suffers an injury.
- An appraiser knocks over and damages an expensive work of art.
- An appraiser leaves the water faucet open during inspection resulting in flooding.
All of these scenarios can result from the normal course of an appraiser’s duty, however they have no direct connection to the valuation of real estate. That is the difference between a CGL risk versus an E&O risk.
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For 20 years I have not liked paying for E&O Insurance, because I never used it. Now, it has all paid off in the form of your opinion which will keep me out of trouble for the next 20 years. I will continue to recommend LIA as the only provider for professional appraisal E&O Insurance.
How very pleasant to deal with someone who is so efficient, quick, and polite, in an era where those elements are often missing in any business transaction.
Appraiser West Lafayette, IN
Thank you very much for your help. It has been a pleasure working with your company, compared to the other E&O carriers I have had in the past.
Thank You Very Much, this is the kind of response and extra effort that makes your company such a standout!! Thanks Again.
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