Understanding General Liability Insurance For Contractors
If you're a builder, you know that commercial general liability insurance is one of the best investments which you can make. It protects you and your company against a wide variety of possible claims. What exactly is covered? Well, it depends on the coverage that you purchase. Here are some things to consider when picking this coverage:
Automobiles' commercial general liability insurance covers a vast array of possible claims for injuries that occur on your premises. Injuries may include slip or fall accidents, personal injury or damage to another person's property due to either your negligence or the activities of your employees. Bodily damage or property damage to another party due to your neglect or the activities of your employees may also be covered. If an insured tenant produces a physical disturbance or commits an act of violence on your assumptions, these damages might have to be covered.
Some asserts that may be contained under commercial general liability insurance for contractors are slander, libel, malicious prosecution, and bodily injury. These might include compensation for an assault, battery, dog bite or some other intentional incorrect. Any injury that is caused by another person due to your negligence or your workers may also be covered. It's important for the small business owner to keep in mind that if he or she carries the personal protective gear that any employee may use while on the job, these injuries will be covered. By way of instance, it might be presumed that workers wearing ear guards or safety glasses won't be injured in an accident, but these things do help.
A lot of people are inclined to get excited and jump into buying commercial general liability insurance without taking time to educate themselves on all the various types of claims that could occur. Even if a company owner just buys liability insurance after, they might have a rude awakening down the road. Because claims are typical, it's important to get the correct security and comprehension so the provider is not left struggling financially since one of their employees has been hurt in an accident that wasn't their fault. Understanding the various kinds of accidents and what the general rules are for filing a claim may go a long way towards ensuring that you don't become another victim. For this reason, it is necessary that every business owner consult with a legal defense lawyer before deciding which plan of action to choose.