Businesses need general liability insurance to cover their exposure to liability losses that can result from their business operations. Coverage is provided for the insured premises, operations, products and completed operations.
Premises coverage pays for bodily injury or property damage that occurs on your premises or as a result of your business operations. Operations coverage pays for damage or injury to others while work is in progress off the insured premises. All liability losses resulting from either the insured’s operations or premises are covered, subject to the policy exclusions and limits.
Products/Completed Operations coverage pays for bodily injury and property damage that occurs after the insured has completed a job and left the site, or relinquished control of a product it manufactured or sold.
General Liability policies are written on a claims-made or occurrence form. The occurrence form pays bodily injury and property damage that occurs during the policy period even if the loss is not discovered or reported until after the policy expired. The claims-made form pays for bodily injury or property damage reported during the policy period. If the loss occurs during the policy period but was not reported until the policy expired there would be no coverage.
Contact Mike if you would like to discuss coverage for your business.