Is it necessary?
Consideration must be given to the extent and limits of coverage a business might need to meet the comprehensive need of the organization. Limits protect assets of the insured, how much is needed should be carefully evaluated by the insured. How broad or comprehensive the coverage also needs to be can be judged in the analysis of how to protect your business. Lawsuits, with there frequency of filings and values of the judgment against an insured are skyrocketing, and a loss or judgment against the business can be catastrophic financially. AmeriAgency has more than 20 years of experience finding the best discounts for contractor liability insurance.
Save Up to 27% in Contractor Liability Insurance With AmeriAgency. With More Than 20 Years of Experience, We’re Sure We Can Help!
General liability also protects your client if your work somehow causes any damage to a third party. For instance, let’s say that you did some contract work to an office building and there was an accident that is being blamed on the way you did the floors. If you have general liability insurance your client and you will be protected if anyone takes legal action. It’s also important to note that your defense bills will also be covered by this type of coverage.
You are also protected if, say, you’re a carpenter doing work at an office building. While on the job, if you drop something on the Xerox machine and break it, you’d be covered for repair or replacement if you carry general liability insurance.
What Doesn’t Commercial General Liability Insurance Cover?
General liability insurance does does not protect your own property. It also doesn’t cover vehicles and boats, so if your business involves the operation of a truck, car or boat, this insurance won’t protect those assets. Let’s say that you own a food truck. Your truck will not be covered by general liability insurance but if it somehow causes damage to another person’s property, you may be covered. If you’re an electrician and your work causes injury to someone, you’re also covered for paying their medical bills, but you’re not covered if you hurt yourself.
Below are some of the coverages and policies available to our clients. Depending on your policy, some coverages may overlap.
- Professional Liability Insurance (Errors & Ommissions)
- Errors & Omissions (E&O) covers professionals for negligence and errors or omissions that injure their clients or cause damage to a third party’s data. This type of insurance is particularly important to licensed professionals such as accountants, attorneys, insurance agents, architects, engineers and technology companies. AmeriAgency Insurance recommends that all professional and technology companies have E&O coverage.
- Employment Practices Liability Insurance (EPLI)
- Employment Practices Liability Insurance for employers covers employment-related liabilities other than on-the-job injuries. This can include legal fees and damages for suits such as wrongful termination, discrimination, sexual harassment, and other alleged violations of employees’ legal rights. If you have employees, AmeriAgency recommends considering this type of coverage.
Save Up to 27% in Contractor Liability Insurance With AmeriAgency. With More Than 20 Years of Experience, We’re Sure We Can Help!
For more information, call us at 1-888-851-5572. If you would like to receive a fast and free quote, visit us on our webpage!