Interested in a coverage but need more information? Look no further!
Commercial General Liability (CGL) - This is designed to cover bodily injury, property damage and personal and advertising injury to others. As a business owner you may be held responsible for accidents such as the following.
- If a client slips and falls at your business location.
- If you cause property damage such as an electric short circuit after you plug in your equipment at the client’s location.
Claims such as these will be covered under Commercial General Liability coverage. This also may be required to ensure you meet the contract requirements for a landlord or client.
Property/Business Contents - This provides coverage for the loss or damage due to fire, theft, smoke, windstorm or water damage etc. It covers:
- Your business property like office furniture, computers, and other equipment.
- Leasehold improvements that you made at your own expense.
Tools Floater & Installation Floater – This provides coverage for movable properties such as tools needed to complete a job.
- Installation floater – cover any materials or item that are yet to be installed if they are lost, damaged or stolen (e.g., sinks, electric cables, floors, cabinets etc.).
- Tool Floater – cover any tools that are used to complete your work in the event that they are lost or stolen (e.g., drills machine, hand saw, compressor, etc.)
Tenants' Legal Liability - This provides coverage for loss or damage caused to rented properties that you are legally liable for.
Non-Owned Auto Liability - This covers bodily injury and property damage caused by a vehicle you rent or hire (including rented and borrowed vehicles) or caused by non-owned vehicles (vehicles owned by others including vehicles owned by your employees). You may be required by your landlord to carry this coverage up to a certain stated limit.
Product Liability – This covered you for claims against you or your employee for bodily injury or property damage to your product or completed service. Usually, the injury or damage happened after you or your employee completed the service.
Example: Condo manager hired Company A to construct an elevated walkway at an upscale apartment building. The walkway connected the parking garage to the building's side entrance. Two months after Company A completed the work, the walkway collapsed. The broken concrete damaged a stone patio and some expensive statuary. The Condo manager is demanding $50,000 from Company A to cover the property damage.