Commercial Insurance - What is the cost of general liability insurance?

How much does a general commercial liability policy cost?

Great question but is too broad to answer unless we do not have all your data to cite. However, in general, I have issued insurance policies from $ 700. Again, you should contact an insurance broker or agent to know the total cost for each type of company has a different risk associated with it.

What is the liability?

General Liability provides a company or individual coverage and protection against losses resulting from a cause. The policy covers defense costs for the charges brought forward a lawsuit, including attorneys' fees, costs of investigation, and other legal expenses. Liability will cover a company or business for damages awarded to third parties for any injury or damage, which the company or the insured person becomes legally responsible, including loss of use of property information.

What is an additional named insured?

In many cases, construction companies often require additional contractors to complete the various phases of the project and add the sub contractor to their general liability policies as additional named insured. This is a precaution in case the subcontractor becomes legally responsible to the costs alleged for their processing or the result of damage to third parties. An example, is an unsafe work site where a person is injured because the area was not safe. Insurance companies need to know all subcontractors and their experience to a contractual agreement compensation if they have a policy of insurance or not.

What should I do if I have a complaint?

If a claim occurs, immediately contact your company, agent or insurance. You must then provide all the relevant details on how the question is what happened and provide witness information as date, time and place. Try to gather as much information as possible to make it easier for you and the insurance adjuster.

What is an agreement to indemnify?

Hold harmless agreement, promises to reimburse or defend the other Party included in the contract against liability lawsuits or legal claims brought against third parties. Hold harmless agreements will transfer the risk of financial loss from one party (the insured) to another party (the defendant). These types of agreements are fairly common, however, the subscriber will usually want to see a copy of all hold harmless agreements before they have the citation commercial responsibilities.

What is Workers Compensation (Workplace Safety Insurance Board) of Ontario?

Workers Compensation (WSIB) insurance provides certain payments to an employee who suffers an injury at work due to injury or occupational disease.

I need Workers Compensation (WSIB) if I am the sole owner?

This is a good question and asked quite often. No need to buy Workers Compensation WSIB Insurance if you work alone or if you have employees. You can exclude from workers' compensation by obtaining a waiver of subrogation.

What happens when an employee injures themself on site or workplace, no general liability cover?

The employees are excluded in the process and have no coverage for injuries suffered by the name insured, its partners or members, or to another employee or volunteer. This would be a problem of workers' compensation.

What is a certificate of insurance?

Insurance certificate is issued as proof of insurance to contract a project. The contractors may have the certificate issued to many separate projects. The certificate is a document that provides the name insured, liability limits, the actual dates of the policy, as well as the name and address of broker .......