Liability insurance is a contract between a contractor and an insurance company to reimburse a third party (such as a consumer) for property damage or personal injury loss caused by the contractor. Some examples of what could be covered are below:
Typical Commercial General Liability Policies will cover up to $1 million in third party property damage or bodily injury. General Liability insurance is vital for any business or business owner that is doing any type of construction work or other small artisan tasks.
“Claims Made” Versus “Occurrence” General Liability
There are two types of general liability coverage and it is important to know the differences of each. Claims made general liability coverage with cover the insured during the policy period up until the expiration date of the policy, once the policy expires there can be no more claims made on the work that was performed during the policy period. Occurrence general liability will cover one’s work during the policy period and up to ten years after the work has been completed. Occurrence general liability is always the more comprehensive coverage and typically will cost more than claims made coverage. Sometimes it is better to pay a little more for your General Liability coverage, because the coverage is better.
Why Choose Munro Insurance Services to purchase your General Liability?
Workers‘ compensation Workers’ compensation, also known as workmans’ comp, is a state-mandated insurance program that provides compensation to employees who suffer job-related injuries and illnesses. While the federal government administers a workers’ comp program for federal and certain other types of employees, each state has its own laws and programs for workers’ compensation. Each State has set up […]Read More
Commercial Auto Insurance Commercial auto insurance provides broad protection that can be important to many people, including truck drivers, snow plow operators, tow truck drivers, couriers, construction workers, business owners, and even pizza delivery guys. Many of the common types of personal car insurance coverage apply to commercial auto insurance, such as: Bodily injury liability. […]Read More
Bonds Surety bonds can be broken down into three major categories:contract bonds, court bonds and commercial bonds. Contractor Licensing Bonds are your most common types of Bonds held by contractors, this insures the Contractor in the event that they are unable to finish the task, the Bond company will pay someone else up to the […]Read More