What is a Liability Policy?
Broadly, a liability insurance policy provides a source of
recovery for a third party who or which is injured or sustains
monetary damages due to the negligent act or omission of the
insured. The corollary is that a liability inurance policy provides
protection to the insured for the risk of financial loss to a third
party as a result of the insured's negligence. Assuming that tje
damages sustained by the third-party results from a covered cause
of loss, the policy will answer for the damages which would
otherwise payable by the insured, up to the coverage limit. That
is, there may be some amount that the insurer will not pay if that
amount exceeds the policy limits.
Another very important benefit of a liability policy is that if the insured is sued for an occurrence that is covered by the policy, the insurer will hire a lawyer, at its own expense, to defend the insured, and will pay costs related to that defense. In some forms of liability policies, such as professional liability policies (those issued to physicians, lawyers and some other categories of professionals), the amount paid by the insurer toward the conduct of the defense reduces the amount available for the indemnity payment.
A Commercial General Liability Policy protects you and your business from third party bodily injury or property damage claims for which you may be held liable.
A personal liability, or umbrella, policy pays liability limits above those you can get on your homeowners or other basic liability policy. If you are thinking of buying a personal liability policy, begin by finding out the maximum amount of personal liability your homeowners policy provides. Make sure you coordinate the liability limits so that the umbrella policy covers any liability claim in excess of the amount your basic policy will pay, up to the… Read More
Liability Coverage under an auto policy has what components: Medical payments Collision Comprehensive None of these Liability Coverage under an auto policy has what components: Medical payments Collision Comprehensive None of these Liability Coverage under an auto policy has what components: Liability Coverage under an auto policy has what components:
A Professional liability insurance Policy, as well as a contractors General Liability Insurance policy will provide coverage for the cost of legal defense.
A property is not a contract or a business. A liability insurance policy is a kind of contract but not a business. the answer is b...
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.
It depends if the builder's risk policy is just for property or for property and liability. You can have a builder's risk policy, which includes general liability. If the insured is owner of the building, the general liability exposure is the cost of the project and will classes under subcontractor.
The term 'excess' insurance is usually for liability coverage. An excess liability policy is also commonly referred to as an 'umbrella' policy because it offers additional coverage over other liability coverages. In the case of a subcontractors insurance, it would be a policy which would extend higher limits than the base policy on general liability and auto liability.
who is the insured under a general liability policy
I believe the term you are meaning to say is excess liability coverage. An excess liability policy act similar to an Umbrella policy that increases your liability limits on your underlying auto, home, boat, or rv policies at a very reasonable rate. An excess liability policy does differ from a true Umbrella policy so ask your agent to explain the differences and what is available for you.
No. You would need to purchase a policy for your additional residence and ask for liability coverage on it.
Do you have to provide a copy of your insured's liability policy to a claimant's attorney when requested in Ohio?
You don not have to provide a copy of your liability policy when requested. You only have to provide the policy if a court or judge requests it.
A commerical liability policy.
There is no legal minimum Liability for a home owner's Insurance policy in Texas. Most companies however do not give you many options for the liability limits. Preferring instead to determine for you what you need. Most Texas Home Owners are carrying far more liability coverage on their Home Owners Policy than they need.
I believe it is a Commerical Liability Policy or Business Owners and includes General Liability, Inland Marine & Property or at least that is what I have found in my research
A named insured person can be an excluded driver on an automobile liability policy in New Mexico, if the policy holder wishes to remove a driver from the policy. The policy holder will have to notify the insurance company to make the changes.
If I had a motor vehicle accident and have property damage liability is the other drivers vehicle covered?
That's what liability is all about. The keyword here is liability, which covers any incidents you may be liable for. Your policy will cover the vehicle, subject to policy limits. What happens if the damage you cause exceeds your policy limits, that I am unsure of.
The amount of coverage and the specifics of coverage will vary from policy to policy. In general liability insurance will cover damages to individuals or entities other than the insured individual. For example, in auto insurance liability insurance will provide for individuals injured in an accident excluding the policy holder.
You are starting a residential cleaning business Should you get general liability insurance or professional liability insurance?
You need a commercial general liability policy.
It's a liability only policy. Non owner means you do not own a car so all you can get on it is Liability and some medical coverage.
Most of the time you need about 500,000 liability policy.
A contractor typically needs a Commercial General Liability Insurance Policy. If the contract includes professional services, then the contractor will likely be required to carry Professional Liability Insurance, either in addition to, or in place of a CGL policy. It really just depends on the nature of the services contracted.
Sure. Depending on your occupation professional liability can be added as a rider to a businessowners policy. Often times professional liability will be a separate policy. I recommend that you contact a good independent insurance agency that represents several insurance companies so they can find you the best policy for your needs at the best price.
similar - umbrella usually a personal lines excess coverage. excess liability policy could be anything. Both are designed to provide another layer of protection over and above the underlying policy(ies)
There is no such thing as a "comprehensive" general liability policy. It is "commercial" to differentiate it from personal-lines coverage. It is commercial general liability policy, or CGL; a generally standard group of coverages, exclusions, limits. This is different than a manafest policy where commercial coverages are added in a customized fashion. A comprehensive policy would be one where a business owner (BOP) might purchase with a pre-set group of coverages, exclusions, and limits. Thanks… Read More
A policy providing liability insurance in a similar to a group life insurance policy
Ultimately the insured is responsible for obtaining adequate liability insurance coverage. If a loss is incurred, it will generally be covered by whichever policy was in force at the time of the loss excepting where Professional liability is the covering policy type.
It is an acronym for Contractual Liability Insurance Policy.
No. Workmanship is not covered under a artisan contractors liability policy.
Generally, a standard one million dollar liability policy is what most have.
What political policy of Confederate President Jefferson Davis caused the South to become a military liability?
The first objective of Confederate President Jefferson Davis was a political one that required military resources. His first objective was to take steps to secure and protect the Confederate States. All Southern territory needed to be protected and Davis had no choice but to attempt to protect all of the South. A successful defense of all of the Confederacy's territory would demonstrate that the South had developed a true nation. This would help the objective… Read More
Claims-made: A type of professional liability insurance policy that covers injuries/damages only if the injury occurs in the policy period and only if the claim is reported or filed to the insurance company during the policy period or during the tail. Occurrence basis: Professional liability insurance policy that covers injuries/damages that occur during the period covered by the policy even though the claim may be reported or filed outside the policy period. Tail coverage: An… Read More
You will just have to ask them for the insurance information. there is no central registry or database for homes and the insurance companies that insure them. You should first determine if your neighbor even has Liability insurance. Not all homeowners purchase liability coverage with their insurance policy. A home insurance policy can be bought with or without liability coverage. If the homeowner has elected liability coverage, The homeowners insurance policy will provide the homeowner… Read More
If a camper is being towed by a truck owned by someone else whose insurance must cover liability for the camper the truck owner's policy or the camper owner's policy?
When I bought my new camper, my agent told me that I don't have to insure the trailer for liability because the liability extends from my vehicle policy. Although your situation is different, I'd guess that whatever is pulling the camper is also providing the liability insurance. I'd call your agent.
General liability insurance, or umbrella policy
The liability portion of your home insurance policy provides protection in the event someone asserts a claim of liability against the homeowner for damages or injuries.
A sunset clause is a provision in a liability policy which states that the insurer will respond only to losses reported before some predetermined future date (sunset), usually a set period after the expiration of the policy.
One can buy a public liability insurance policy online from many insurance companies. These include Hiscox, Axa Liability Insurance and Endsleigh. One can use comparison sites such as Compare The Market to compare prices and conditions.
The ISO CG 2504 amends a General Liability policy to apply Aggregate General Liability Limits on a per location basis as opposed to a per policy basis.
You need A General Liability Insurance Policy
people,income,liability and property.
Would a general liability Insurer cancel a policy after an audit upon finding out the company did not report all employees?
It would depend on how the policy was written as to whether or not a general liability insurer would cancel a policy after an audit where they found out that the company did not report all employees.
I doubt you can get any policy without some money down. Answer No company is going to provide you a commercial general liability policy without collecting your initial premium payment.
Mark G. Lichty has written: 'Annotated commercial general liability policy' -- subject(s): Insurance, Liability, Liability Insurance, Policies
Ask the contractor for a copy.
Generally, no. However, if there is a claim each should be informed of the other policy and they will share the liability.
You should visit any online insurance broking company like that of Greenlife insurance broking limited. Visit gibl(.)in and you can there compare between different liability policy and can save a lot of money.
Claims Made vs Occurrence Commercial General Liability and other types of Personal Liability policies are generally "Occurrence" policies. This means "losses that occur during the policy term" are eligible for claims servicing. The policy active at the time of the loss is the policy that would address coverage. Professional Liability Policies are generally "Claims Made" policies. This type of policy offers coverage for "claims made during the policy term". An injury that occurred long before… Read More
If water damage to condo ceiling is caused by upstairs neighbor but you do not have homeowners policy will neighbor's liability cover damage or do you need to get new policy before pursuing?
depends on circumstances if liability policy of neighbor would respond - are they negligent? also an insurance policy is occurrence based - the occurrence would have occurred before you purchased a unit owner policy - therefore the water damage would be excluded.
Condominium Answer Read your governing documents to verify that a master insurance policy is required for the association, and the details of liability coverage required. Individually, unit owners may also carry liability insurance. That policy defines 'premise'. The master policy coverage will define 'premise' also. Depending on the claim, different policies may be involved. Insurance Answer [TBD]