COMMERCIAL GENERAL LIABILITY:  This is really a broad term that refers to a package of coverages and coverage limits.  The Commercial General Liability policy covers against lawsuits alleging bodily injury, personal injury and property damage due to negligence on the part of the insured.  If you do something wrong that wasn't intentional and someone is hurt or their property is damaged then your liability policy will kick in.  The insurance company will step up and defend you as well as pay damages.

GENERAL AGGREGATE LIMIT:  This is the most the insurance company will pay in any one policy year for claims arising out of your Operations, Personal or Advertising Injury, Fire Damage and/or Medical Payments.  Operations coverage is the basic coverage afforded for Bodily Injury and Property Damage due to your negligence.

PRODUCTS & COMPLETED OPERATIONS LIMIT:  This coverage provides protection for those who are contractors (completed operation) or manufacture or sell something (product).  For example, if you are an electrician and you fix someone's lights and consequently their house burns down you could be sued because you were negligent in completing the operations you performed to the lights.  Or, if you manufacture light bulbs or sell them at your store and the light bulbs then cause damage you could be sued because your product caused harm. 

PERSONAL & ADVERTISING INJURY LIMIT:  Personal Injury refers to slander, libel, invasion of privacy, and defamation of character.  Advertising Injury refers to false advertising practices.  This coverage provides protection from suits related to any of the above.  This is the most the policy will pay for any one claim of this nature.

EACH OCCURRENCE LIMIT:  This is the maximum that the policy will pay for any one claim arising out of your Operations, Personal or Advertising Injury or Products & Completed Operations.  Each claim will reduce the General Aggregate Limit.

FIRE DAMAGE:  This separate limit shows the coverage for fire damage.  This coverage is for fire damage to buildings that are leased or rented by you.  For example, if you accidently leave a coffee pot on in your office suite and it starts a fire, this coverage will pay for the repairs to your suite.

MEDICAL PAYMENTS:  This limit shows the coverage for Medical Payments to third parties.  This provides coverage for incidental medical payments to others if they incur minor injuries while on your premises.  This coverage will pay regardless of who is responsible for the injury.