General
Liability Insurance
Colstan & Associates is providing Commercial
General Liability Insurance to the businesses in the
North East. Commercial General Liability Insurance
has vital importance in modern controversial business
environment. We often witness that even smaller misfortunes
result in large risks of facing legal proceedings
that often end up with heavy economic compensation.
General Liability Insurance provides risk coverage
to your business or organization from most of such
problems. It protects the assets of your business
when it is prosecuted for some known or unknown reasons.
Therefore, general liability insurance is an essential
requirement for every company or organization along
with property and worker's compensation insurance.
One can purchase Commercial General Liability insurance
along with property insurance as Business Owner's
Policy (BOP). A BOP is bundled insurance package that
includes coverage for both Property and General Liability.
However, if you need more insurance coverage you need
to purchase General Liability Insurance separately.
The amount of coverage being provided under a General
Liability Insurance plan depends upon two important
factors. First thing is the probable risks associated
with the business that be being insured and then the
state of business operation.
According to the General Liability Insurance policy,
the insurer or business owner is required to pay the
legal costs of a business in a covered liability claim
or legal proceedings. However, bodily injury, property
damage, personal injury, and advertising injury are
covered under general liability claims. Except coverage
from financial punishments, you will also get insurance
cover for compensatory economic damages.
This is a common understanding that the business
that is more prone to danger needs more coverage than
possibly safer businesses. Under a General Liability
Insurance policy, the insurer is obligated to pay
the legal costs of a business in a covered liability
claim or lawsuit. Covered liability claims include
bodily injury, property damage, personal injury, and
advertising injury (damage from slander or false advertising).
The insurance company also covers compensatory and
general damages. Punitive damages aren't covered under
general liability insurance policies because they're
considered to be punishment for intentional acts.
Colstan & Associates provides Commercial General
Liability broad form coverage (for bodily injury,
property damage, personal injury and advertising injury)
written on an occurrence form that shall be no less
comprehensive and no more restrictive than the coverage
provided by Insurance Services Office (ISO) form 1988.
Colstan
provides General Liability Insurance - contact us for a
free quote.
CALL (516) 944-7520 FOR MORE INFO
Colstan also provides personal auto insurance ny, homeowners insurance ny, life insurance ny, long termcare insurance ny |
