Introduction to General Liability Insurance
Having high enough limits in your commercial liability coverage should be a cornerstone of any business plan. Carrying adequate small business insurance to protect your business shouldn’t be a question – it’s a must if you want to make sure that you don’t get put in a position where you have to lose your business or pay money out of pocket to cover expenses associated with a loss. General liability for contractors is generally divided into two parts: bodily injury and property damage.
It protects assets in several ways-
general liability insurance for bodily injury and property damage insures your legal obligations that arise from an accident. It also includes the costs related to lawsuits and other legal proceedings. The limits of insurance should be sufficient to handle serious injuries and the injured person’s loss of earnings.
Liability coverage for damages due to personal and advertising injury insures your legal obligations that arise from an offense. It also includes the costs related to lawsuits and other legal proceedings. The limits of insurance should be sufficient to handle serious injuries and the injured person’s loss of earnings.
Medical Payments coverage pays the cost of medical care to persons injured on your premises or due to your operations, regardless of fault.
Covered Building
When there is a limit of insurance for building on the declarations, the building or structure listed and described is covered property. The following is also considered covered building property:
Additions under construction, alterations, and repairs that other insurance does not cover. The materials, equipment, supplies, and temporary structures that are on or within 100 feet of the premises and used to make the additions, alterations, or repairs are also building.