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How much commercial general liability coverage does a homeowners association need?
Wiki User
∙ 15y ago
A professional insurance agent is qualified to help you determine what limit you need. Excess liability or umbrella coverage can provide high limits at a price that is substantially lower than your general liablity coverage. You should consider buying this coverage to increase your coverage limits.
Wiki User
∙ 15y ago
The amount of commercial general liability coverage a homeowners association needs can vary based on factors such as the size of the association, number of members, and potential risks involved. It is recommended to consult with an insurance professional to assess the specific needs of the homeowners association and determine an appropriate amount of coverage.
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What are the two type of coverage provided by a homeowners insurance policy?
Property and Liability
Does Foreign Commercial General Liability include Foreign Business Auto Liability?
It can be, but it just depends on the extent of coverage you purchase. Commercial Auto is not automatically included with Commercial General Liability. If you purchase the Commercial Auto coverage along with the Commercial Liability then you will have the coverage. If you purchase only the commercial General Liability then you won't have coverage for commercial auto.
What is the Liability of homeowner acting as General contractor?
Homeowners insurance does not have liability coverage for your job occupation. You can obtain contractors insurance for liability coverage.
What is home insurance?
Home Insurance is Insurance coverage for your house, condo or apartment for your personal property and liability coverage for you. The insurance coverage for your house is also called homeowners insurance. The Homeowners isurance is an insurance package that has coverage for the dwelling, the others structures on your property, Loss of Use, Medical Payments and Personal Liability.
Is there a deductible on the Medical Coverage portion of Homeowners' insurance?
No. The medical coverage and liability sections of a homeowners policy do not contain any deductibles. These sections do not cover the homeowner or any household residents.
Fire Legal Liability Insurance for unoccupied home?
Homeowners coverage should satisfy requirements.
Does a commercial general liability policy also provide excess vehicular liability coverage beyond the coverage in the driver's separate mva policy?
No. A commercial liability policy specifically excludes liability arising out of the ownership, maintenance or use of a motor vehicle.
What does commercial general liability insurance cover regarding contents liability?
The commercial general liability policy provides coverage for liability not contents. If you only have the CGL then there is no contents coverage. Commercial policies are generally put together by adding different policies as needed for particular coverages. There are many different commercial policies that you can combine to become your complete commercial insurance coverage. Discounts are given for combining the policies. Some of the commercial policies available are commercial general liability, commercial auto, commercial property, commercial boiler and machinery, commercial property floaters, and many more to customize the coverages needed.
Is there an endorsement to a homeowners policy that extends liability for another residence?
No. You would need to purchase a policy for your additional residence and ask for liability coverage on it.
What is the difference between liability and medical coverage under homeowners?
Liability = Legal Obligation to Pay. Medical Expenses = Moral Obligation to pay.
What type of liability insurance can you get to lease a commercial building for personal non-business use or is an umbrella policy from your homeowners liability insurance enough for the landlord?
Umbrella policies are often written as "following form" which means it only provides coverage if your primary (i.e. homeowners policy) provides coverage. Ask your insurance agent if you need to add the new location to the liability section of your homeowner's policy. You may also need "fire legal coverage" which can pay the landlord if you accidentally cause fire damage to the leased building.
What are the benefits of a commercial liability umbrella insurance?
Commercial liability umbrella insurance has many benefits to the company. The liability umbrella insurance is pretty inexpensive compared to other coverage policies. It also provides better protection and coverage.
