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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


 

 

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