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Building Owners » Commercial Liability

Introduction to Commercial Liability Insurance

Commercial Liability Insurance covers third-party claims to either bodily injury or property owned by others. Unlike first party Property Losses, where potential loss to damage is limited by the value of the property, third party Liability claims potential for loss is virtually unlimited. A Liability policy protects the insured from an action that causes a loss to another.

Examples of losses that are typically covered in a General Liability policy include:

  • Property Damage to others as a result of negligence by the insured
  • Payments to others for a Bodily Injury claim which occurred as a result of negligence by the insured.
  • This can include Medical Payments, Loss of Earnings, Mental Anguish and Suffering,

As a building owner this is where you are the most vulnerable.  With property coverage you only stand to lose you building in the event of a total loss.  But without liability insurance, you can stand to lose your building, any other assets you own, and even the possibly of future assets.  For more information on the individual insurance coverage you will need to supplement the master policy, please click here.

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