Liability Insurance

Getting Familiar With General Liability Insurance Part 1

As knowledgeable Tampa construction attorneys, we understand that risks are the cost of running a construction business in Florida. In the midst of conducting a construction operation, the inevitable can happen. General liability insurance, also known as commercial liability insurance, protects construction professionals from liability claims stemming from injuries, property damage, and other negligences. In this article, will discuss the importance of liability insurance and what’s covered. Read the second part to learn more.

Why You Need General Liability Insurance

In Florida, you can bid for work but you need insurance to begin a project. This is why construction professionals are highly encouraged to obtain the right insurance. Further, most people you do business will want you to have as a condition of doing business with them. For example, if a contractor doesn’t have insurance, then that leaves owner’s responsible for any damage the contractor causes. In short, maintaining general liability insurance helps you avoid liabilities.

What’s Covered

For adequate coverage, you need a minimum coverage of $300,000 for bodily injury, $50,000 for property damage, and $100,000 for bodily injury. General liability insurance typically covers the following:

  • 3rd party property damage
  • Bodily damage
  • Personal injury
  • Advertising injury
  • Defense Costs
  • Injured party’s medical expenses

If a claim is filed against your company for damages, your general liability insurance policy will cover general damages for pain and suffering, punitive damages which include additional penalties, and compensatory damages which include covers monetary payments to the injured.

To request a consultation with an experienced Tampa construction lawyer, please call us today at 813.579.3278 or submit our contact request form.

Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.

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