by Guest » Tue Feb 23, 2010 10:20 am
We're a contracting services firm. Is there any policy that covers our liability towards property damages or injuries caused to third parties during the completion of our project. We're certainly taking all possible precautionary measures to deliver our work safely, but at the same time we'd like to have the right coverage in place.
Posted: Tue Feb 23, 2010 02:37 pm Post Subject:
You need to contact an agent and go over your business information with him/her. They need to know all about your business and exposures in order to make sure you have the correct coverage. Sounds to me like you need a Business Operations policy of a General Liability policy. There are _many_ different endorsements available to tailor theses policies to what you need/want.
Posted: Thu Feb 25, 2010 10:27 am Post Subject:
You're right! There are 2 different kinds of protection available with the general liability insurance. One of it is known as the operations-in-progress coverage, and the other one is known as the 'Completed operations coverage'. You'd need to be really careful if your firm is one of the modest in size or if it's new in the industry.
Posted: Fri Feb 26, 2010 05:54 am Post Subject:
Hi, I guess the following things are usually covered.
Any damage that has been caused due to the property destruction.
Final expenses when the affected person dies.
Costs arising out of any lawsuit (including the fees to your lawyer).
Posted: Sat Feb 27, 2010 06:29 am Post Subject:
It would cover the affected person's loss of income arising out of his disability. Income loss due to other health problems during this period would probably be covered under it too.
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