Commercial General Liability coverage insures a business against accidents and injuries that might happen on its premises, and away from the premises as well as exposures related to its products. It will protect you from payments for bodily injury or property damage to a third party, for medical expenses, and for the cost of defending lawsuits including investigations and settlements.
No matter how diligently you remove all possible hazards from your business, you could still be exposed to a liability claim that results from the carelessness of a customer. General liability insurance is your last line of defense against devastating claims for things over which you may have little or no control. The price you pay for coverage depends on the size of your business and the specific risks involved. Generally, experts say, $2 million to $3 million of liability insurance should be plenty.
People often conduct business from premises they do not own. Exposures may include rental of hotel rooms or other facilities for the purposes of accommodations, seminars or trade shows. The law requires that the owner be compensated for damages to property caused by tenants in certain cases.
The protection provided by the Tenants' Legal Liability Policy insures property damage arising out of the insured's negligence, or such perils not excluded.
When deciding what coverages are required, the limit purchased should, as a minimum, be no less than the value of the building or portion of the building occupied by the insured.
The Umbrella Liability Policy is designed to respond only after the underlying or primary policy has responded. The Umbrella Policy will normally respond when:
When you’re looking for innovative solutions to highly specialized risks, call Axis Insurance Managers. You’ll appreciate our specialty insurance expertise and our customer service. By creating unique relationships with insurers, that combine in-house underwriting capabilities with standard market support, Axis has the tools to facilitate a leading edge over our competitors.
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