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:
- Bodily Injury: A client falls over your bag and you are legally liable for the injury. General Liability will cover the subsequent claim and related medical expenses up to your policy’s limits of liability.
- Property Damage: You spill coffee on a client’s expensive rug causing damage. General Liability will cover the subsequent claim up to your General Liability policy’s limits of liability.
- Personal Injury: One of your employees is at lunch. He talks to the owner of the shop about one of your clients in a false and unflattering way. The client learns of this discussion and sues for slander. General Liability will cover the subsequent claim, up to your General Liability policy’s limits of liability, and pay for an attorney to defend you if necessary.
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?
- We work with hundreds of different insurance companies so we are not biased towards one policy or another, we simply get you the best coverage available at the best price.
- Because they are some many variations of coverage type and coverage period, one of our licensed agents can help you navigate the various plans to make sure the coverage you are getting is appropriate.
- Will have a Broker that you can always access directly for any questions or assistance with insurance needs going forward. Just like it is important to see a Doctor for your health, it is important to speak with a knowledgeable insurance agent to make sure your business is properly protected.
- We Specialize in Construction, Landscapers, Janitorial and Home Inspectors General Liability.
- We have access to plans in all 50 States and over 150 insurance companies, don’t be limited to your local City or State options.
- We can get you a firm quote in 5 minutes and coverage Bound in a couple hours.