GL Deductible credits are given based off of ISO (Insurance Services Office - an advisory and data gathering organization) credit tables depending on class of business, but most often are used by judgement of the underwriter.
The standard deductible we think about in everyday life usually relate to OUR possessions. Those deductibles in insurance (homeowners, auto) are taken OFF the ultimate payment, therefore giving the Insurer the almost undeniable ability to collect.
GL Deductibles are recuperated from insureds AFTER payment. That is because on GL deductibles are paid to third parties, so the disbursement can not be garnished in the same way that property deductibles are.
Also, General Liability losses tend to have much more severity to them. For the 2 reasons listed, GL credit factors tend to be somewhat negligible until you are starting to get into very high levels of insured risk retention.
General liability covers Public and Producs Liability, therefore by having General Liability cover, public liability is covered also.
Compare general liability insurance quotes from multiple providers. Learn about liability insurance in our free buyers' guides to business insurance.Hiscox specializes in general liability insurance for businesses with 10 employees or less.
You need a commercial general liability policy.
General Liability insurance is purchased through any insurer that provides commercial insurance lines coverage.
Comprehensive general liability insurance covers businesses against many liability exposures of a business. Comprehensive general liability insurance coverage includes completed operations, elevators, independent contractors, and more.
form_title=Purchase General Liability Insurance form_header=Protect yourself and your business from accidents with general liability insurance. Describe the business and/or property needing insurance:=_ Have you had this product in the past?= () Yes () No How soon do you need this product?=_
Because this was an at-fault incident, the 500.00 deductible is your responsibility. You as the owner of the vehicle allowed your friend to drive the car to begin with. Your friend in all fairness should pay you the 500 dollars. Why is your friend's insurance paying you? Your own comprehensive/collision policy should pay you (less the deductible) and then "subrogate" the claim to your friend's auto or general liability insurance or sue him directly if he has no insurance and send you the deductible after they have collected.
It is a good idea to consider purchasing general liability insurance for your business. General liability insurance can protect your business and give you peace of mind.
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General Liability insurance can be purchased through some reputable companies such as Nationwide Insurance, Geico Insurance, EInsurance and All State.
Homeowners insurance does not have liability coverage for your job occupation. You can obtain contractors insurance for liability coverage.
All the major insurance companies offer general liability insurance for commercial workplaces. Some of these are Nationwide, Progressive and Allstate.