Commercial Liability Insurance, also called Commercial General Business Liability or Business Liability, is very important when listing specific coverages—it can protect you in case you are sued by anyone outside of your business. There are several types of Business Liability Insurance that can help cover legal fees and settlements or award if you are sued for bodily injury or property damage to third parties. These policies list the specific coverage by name and cover liability costs up to the policy’s limit and often help cover damages if you are found liable, while helping with legal costs, too.