General liability insurance, the basic insurance needed by all businesses, can be confusing and it varies by what industry you're in. Liability insurance is especially challenging (and important) for construction professionals due to issues related to uninsured subcontractors, workmanship defects, problems with building materials (like the Chinese drywall claims from a few years ago) and more.
Unfortunately for every contractor and business owner, the chances of getting sued have dramatically increased in the last decade. Having proper General Liability insurance in place can prevent a legal suit from turning into an unmitigated financial disaster by providing financial protection in case your business is ever sued or held legally responsible for some injury or damage.
General Liability pays claims losses arising from real or alleged bodily injury, property damage, or personal injury on your business premises or arising from your operations.
Some of the things that General Liability insures against:
- Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury
- Property Damage coverage for the physical damage to property of others or the loss of use of that property
- Products-Completed Operations provides liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or service your company provided
- Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents
- Contractual Liability extends to any liability you may assume by entering into a variety of contracts
- Other coverages can include: Reasonable Use of Force; Borrowed Equipment; Hired and Non-Owned Vehicles (such as rented and employee vehicles); Fire, Lightning or Explosion Damage; Water Damage Liability Protection; Legal Defense Costs; Medical Payments; Personal Injury; Advertising Injury; and specialized liability protection for specific business types.
For a full quote on your liability insurance, please CONTACT US here and we'll be happy to work with you.
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