What type of liability insurance can you get to lease a commercial building for personal non-business use or is an umbrella policy from your homeowners liability insurance enough for the landlord?
Umbrella policies are often written as "following form" which means it only provides coverage if your primary (i.e. homeowners policy) provides coverage. Ask your insurance agent if you need to add the new location to the liability section of your homeowner's policy. You may also need "fire legal coverage" which can pay the landlord if you accidentally cause fire damage to the leased building.
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Why does it matter to California Commercial liability insurance if you build or remodel condos or apartments?
Condos and apartments in California are high risk constructionprojects and the construction defect statute of limitations of worklike this done in California is 10 years. We frequently see on siteliability claims and construction defect claims for this type ofwork in California. New condos or apart…ments require a WRAP insurance policy in orderto be covered, remodel work can be covered by a normal constructionliability policy. Make sure you get certs and signed subcontractsfrom all your subcontractors so their liability flow to them notyou. (MORE)
Personal Liability with a Renters Policy . You could get a commercial type policy -- the last one I sold in Texas was about $1200/year for $300,000 liability. They charge per acre.\n. \nInsuracne is regulated by state governments. All insurance questions should be required to state what state …you are in. Don't just love the English language?\n. \nWhy don't you have homewners insurance??? You have to live somewhere. You can buy a renters policy that has personal liability as part of the package and ask the agent if it will extend to vacant land. (MORE)
There is no such thing as a "comprehensive" general liability policy. It is "commercial" to differentiate it from personal-lines coverage. It is commercial general liability policy, or CGL; a generally standard group of coverages, exclusions, limits. This is different than a manafest policy where co…mmercial coverages are added in a customized fashion.. A comprehensive policy would be one where a business owner (BOP) might purchase with a pre-set group of coverages, exclusions, and limits.. Thanks. Actually, the term "Comprehensive General Liability" was replaced in 1986 with the term "Commercial General Liability." They are essentially the same policies. (MORE)
Answer . Business Liability Insurance costs vary from State to State. Your costs will depend on what type of business your in and the size of your business and a number of other factors.. Contact a local independent insurance agent for a quote.. If in NJ contact William J Zester, VP - MPPI, Inc…. firstname.lastname@example.org (MORE)
Brief Description of Business Insurance: . Business Liability Insurance is typically sold as "General Liability" insurance to businesses in order to provide coverage for the day to day operations of the business. Depending upon the kind of business it is, there are different categories of liabili…ty insurance for businesses. For instance if a business manufactures, then Product Liability Insurance is necessary to cover claims against the business arising from the use of their products. If the business is a service business (i.e. Carpet Cleaning, Sales, Contracting or sub-contracting etc., etc.), usually a General Liability policy is sufficient.. One thing to note with business liability insurance is the amount of coverage purchased. There are policy limits per incident as well as aggregate (combined) limits. The key issue is in purchasing enough insurance to cover any contingency without purchasing too much because the insurance company will only cover costs up to the limit of coverage.. For special insurance needs, a piggy-back policy for business is often used. This type of business insurance is called an 'Umbrella Policy'. It is a policy that rides on top of an existing policy that offers specific coverages in excess of the original policy. (MORE)
If it's a case like where the owners dog bit someone, they will be reluctant to reveal this information. When that happens, you best bet is to hire a private investigator who has access to the insurance industry insurance databases.
Answer . well your liablites in general...depends....you can be a 'co signer' and NOT an owner ( i know this because i did this with our kids...on purpose) if you are a co owner you have the same liablity as the owner, (ins...if accident occurs and no insurance you are held equal with owner)....…if you are a co signer and NOT a co owner you liablity begins and ends with the financial responsiblity of the note...(they don't pay then bank/company comes to you to pay the note/lease).... (MORE)
Need business liability insurance for a leased space doing a dollar store what will this cover and recommend coverage for this type of business?
Answer . Commercial General Liability insurance protects you from a 3rd party bodily injury or property damage suit for which you are negligent. For instance, you own a dollar store and a customer enters your store trips over a loose rug and is injured. That customer has a right to sue you for hi…s medical bills.. Most tenants leasing space for retial stores will need a Business Owners Policy (BOP). This is a package policy for small businesses including General Liability Insurance and Property insurance for damage to your owned business property. The lease you sign with the landlord will detail the limits required and will ask that you name the landlord as "Additional Insured". Additional insured status protects your landlord under your insurance for suits brought against him for your use of his owned space.. Consult an independent insurance agent for details about BOP policies offered in your state.. William J Zester, Jr. Vice President MPPI, Inc. email@example.com (MORE)
A property is not a contract or a business. A liability insurance policy is a kind of contract but not a business. the answer is b...
Is this seems like an incomplete question. Homeowners policies typically have personal liability on them.
Umbrella & excess provides increased limits of liability at a greatly reduced premium as compared to the general liablity policy. The theory is that the GL policy is the "working layer" for most claims, while the umbrella pays for the more severe (but less frequent) types of claims.\n. \nThe higher… limits may be needed if the association is sued. Examples:\n. \n . A person slipped and fell in the community's park.\n . Ice formed on the private road owned by the community, causing an auto accident.\n . A board member was alleged to have discriminated against a community resident.\n . and whatever else people sue for\n . \nNote that while none of the above lawsuits are likely, and even so, have little or no merit, they can deplete a HOA's budget with the lawyer bills necessary to defend them. A special assessment against all of the homeowners would be inevitable, which could result in hardship and possibly assessment liens against homeowners in the association. (MORE)
It's liability insurance for a business.\n. \nIt contains a bunch of stuff a homeowner's policy, or a motorist's policy, would not. A restaurant would be covered against choking, food poisoning and adverse food reactions. My company is insured against someone falling off the loading dock.
How do I as homeowner get around a liability for a contractor that does not have workman's comp insurance?
You don't. You simply hire a reputable contractor who provides theinsurance necessary for his or her line of work. Never hire acontractor who can not show you that he is properly insured for thejob being offered. It is the contractors responsibility ( not the customer ) toprovide coverage necessary… to cover his workers as well as anyaccidental damage to your property. If your contractor give you any flak or hesitancy at all when askedabout his insurance, you need to find another contractor. (MORE)
Commercial GL covers your business for damages alledged by a thirdparty including bodily injury and property damage. When you start acompany, you should purchase GL insurance when you have any of thefollowing : Sales, assets, employees, a physical location.
In accounting terms, liability describes an obligation. It refers to money owed to complete a transaction, debt that has yet to be paid, or products or services that have been paid for but have not yet been rendered. There are two general classifications to sum up these types of liability: long term… and short term/current liability. Long-term describes debt paid out over more than one year, while short-term liability refers to debt paid within a year or less.. the two types of liability(in Business matter) are:. 1.current liability. 2.long-term liability (MORE)
I am an insurance agent in the southeast and have been writing personal chefs for 7 years now. Whether you are new in business or have been in business for years, does not matter. I have worked closely with two major personal chef associations and would be happy to help you with that as well. I can …provide same day quotes and binding. No money needs to be paid at binding. The company will send you a bill depending on the installment option that you choose. My information is as follows:. Joetta MacMiller, CISR, CPIW l Commerical Insurance Specialist First Citizens Insurance Services l Phone (888) 322-4678 ext. 4230 firstname.lastname@example.org (MORE)
The answer is found in the insuring agreement of the policy. It states that the company(insurance carrier) will pay all sums the insured is legally obligated to pay for bodily injury and property damage to which this insurance "applies"caused by an occurence in the coverage territory. However you mu…st read the document completely to determine wht is not covered. these policies do have exclusions as to what is not covered. Some examples are exclusions for war,intentional injuries or acts,criminal acts, breach of contracts,pollution work comp injuries to your employees and many others.. I suggest you consult a independent agency that is a professional with this type of policy. These type of policies are etremly complex and dependent on the business activity that you are engaged in. (MORE)
Umbrella policies set on top of personal liability insurance policies. Normally your homeowners policy provides this type of coverage . the umbrella policy should follow the coverage of the personal liability . It may or may not provide coverage for volunteer positions as policies are different from… state to state and company to company. You need to consult your personal agent to review you current poliicy to make sure your policy provides the coverage that you are asking about (MORE)
I am assuming you mean a tenant in a commercial building as opposed to a residential tenant (i.e. apartment dweller).. A tenant in a commercial building will typically be a business of some sort (eg. a Retailer located in a shopping Mall, or a manufacturer who rents a warehouse or plant, etc.). Wha…tever the case, it is important for a commercial tenant to be properly covered by a Commercial General Liability (CGL) policy which will provide protection against claims for Bodily Injury or Property damage caused through the negligent actions of the Tenant/Business. A prudent Landlord will require all of his/her tenants to carry CGL coverage and will seek to be added to the policy as an "Additional Insured". This will help protect the Landlord from lawsuits brought about by the negligence of his/her tenants.. Hope this helps. (MORE)
Not if the injury occurred away from the home No. And also not if any crime was involved.
The insurer's general undertaking in most liability policies is to pay those sums that the insured becomes legally liable to pay as damages because of bodily injury or property damage to which the insurance applies. The insurer also undertakes to defend the insured against any suit seeking those dam…ages for bodily injury or property damage to which the insurance applies (which means that the insurer hires an attorney and pays related attorney's fees and court costs). These coverages are included under Coverage "A" of the Commercial General Liability policy (hereafter, CGL). Coverage "B" provides protection for personal and advertising injury (distinct from "personal injury"). Coverage "C" provides medical payments coverage for an injured person . There are many exclusions to the coverage provided in the standard CGL policy, which must be filled by endorsements or speciality policies in order for the insured to have truly comprehensive coverage. (MORE)
How much does it cost to start a commercial general liability and commercial property insurance policy?
It all depends on the type of business and the size. Commercial general liability and some contents ($10,000 or so) for a small office might be as low as $500 per year. However, the cost of insurance may be higher for an apartment building or commercial structure. It is recommended to obtain at leas…t three quotations from reputable insurance companies before making a decision. (MORE)
Can a homeowner get a third party liability insurance covering ONLYvisitors who might have an accident while on the premises (not thehouse itself and its furnishings and belongings) Thank you Elie
NO, of course not. It is not possible to liable to ones self. Your homeowners Liability coverage will pay the cost of defending you in court if someone brings a suit against you. It would also pay for certain judgements won against you should the court find you liable. In order to file suit ag…ainst your own homeowners liability insurance you would basically have to sue yourself. I'm sure that any judge would throw the case out just before he orders you to seek psychiatric treatment. (MORE)
So does that mean you cannot get an umbrella liability policywithout having some primary coverage first? I am a landlord. Let'ssay I am not concerned about property damage or fire loss, justliability. Is there any type of insurance I can buy just forliability? _______________________________________…______________________________________________________ In answer to your question, by its very nature, there has to beunderlying coverage in order to have an unbrella policy. Otherwise,there is nothing for the umbrella to supplement. Differentinsurance companies have different underwriting requirements as tothe amount of underlying coverage you much have to get an umbrellaof a stated amount. Since you are a landlord, and presumably want coverage on therental property, you may want to look into a Commercial GeneralLiability insurance policy. It is a broad form of policy thatcovers an array of risks. Only a licensed insurance agent canadvise you on what is best for your needs. However, since it isrental property, I do not understand why you would not wantinsurance on the property itself, such as fire insurance, unlessthe property is uninsurable. --Luke Brown (MORE)
You'll then need to get it yourself. The way the economy is wouldn't hurt to have insurance and a lawyer just incase.
You will just have to ask them for the insurance information. there is no central registry or database for homes and the insurance companies that insure them. You should first determine if your neighbor even has Liability insurance. Not all homeowners purchase liability coverage with their insura…nce policy. A home insurance policy can be bought with or without liability coverage. If the homeowner has elected liability coverage, The homeowners insurance policy will provide the homeowner with legal defense for the cost of defending against a suit that is brought against them claiming liability on the part of the insured. If the Insured is found at fault or liable in court, then their insurance company will cover the cost of those liabilities up to the specified policy limits. Alternatively you can sue your neighbor. Then If your neighbor has Liability coverage on his home insurance policy, You will then meet your neighbors insurance company attorneys in court. (MORE)
You can avoid insurance liability by making sure that all employee's are doing and following the safety guidelines correctly. Post signs saying that things are not safe, wet floor, hazardous materials etc.
Insurance liability is found in different scenarios, but for this example I will use Auto Insurance liability. Most automobile lenders require anyone with an auto loan to have insurance liability. This means if you cause an accident while operating your vehicle, you may be made liable to pay the cos…ts of damages and medical bills. While insurance liability is a good thing to have, especially if you are the one who is the victim of an accident, it can also be a costly, though necessary thing to have. (MORE)
This covers you from anything you are liable for. Try to get with a known name company that will cover you a good amount. You always want to make sure you have enough coverage for anything you are insuring.
It depends on whether you are talking about a liability insurance for cars. There are various insurance available to car owners and renters. There is also business liability insurance (doctor, lawyer, accountant, etc.).
In a nutshell, public liability insurance is a special insurance a business or a commerce can buy to protect itself financially in case of a lawsuit brought against it by a patron injured at/on it's premises.
Your homeowners insurance does not provide coverage for hired workers. It is advisable that you ensure your contractor's doing the remodeling job for you have liability insurance in the event they damage your property or someone else's and appropriate medical coverage or workman's compensation fo…r their workers. (MORE)
I have never heard of this and don't believe that it exists. I believe that if you are interested in liability only then a premises liability policy is what you want. A "homeowners" policy is a packaged policy with property, liability, medical payments to others, and many other coverages put togethe…r for owner occupied homes only. There are several different "forms" of homeowners policies such as: HO-3 is the typical owner occupied replacement cost policy; HO-4 is for apartment or those renting a home; HO-6 is for condominium owners; HO-1, HO-8, HO-10 are owner occupied actual cash value policies. There are also many many endorsements available to add or delete certain coverages from these forms. (MORE)
The liability section of your homeowners insurance covers items that you are legally obligated to pay for injuries to other persons due to your negligence. It will also pay for legal fees to defend you if you are sued for such items.
The liability portion of your home insurance policy provides protection in the event someone asserts a claim of liability against the homeowner for damages or injuries.
"Personal liability insurance can be useful for some people. It protects against financial losses if you are sued for slander, defamation, invasion of privacy, etc. People such as journalists and private investigators usually purchase it."
It covers your negligent actions anywhere in the world as well if someone sues you your laibility coverage will kick in and they will defend you. There are some other coverages in there as well but would need to see policy as all are different
Most insurance companies will not offer you a policy if you own a Pit Bull, Rottweiler, Doberman Pincer, German Shepherd, or other similar breeds or a mixture involving any of these. Also any animal that has any bite history. The also want to know if you own any exotic pets. Most companies will deny… your policy completely. I have only two that will offer you a policy but you have to sign an exclusion for animal liability. They will cover everything else except injuries due to animals. (MORE)
It all depends on what type of business your in as well as your claims history and other factors such as your experience and risk exposure. If your a Dynamite Manufacturer needing a CGL policy it could cost you 500,000 Dollars. If your a Pastry Shop operator it might be as low as 3,000 dollars … Answer If you are asking about a general liability policy the cost is based on the type of business. This cost can be thousands of dollars different from one business type to another. (MORE)
Your applicable deductibles are listed in your Insurance Policy. If you have difficulty reading your policy just contact your insurance agent for clarification. All Policies are not the same so it just depends on the coverages and deductibles you requested when you purchased your insurance.
Depends on who carrier is for your homeowners-many acts of God are covered but some do exclude flood/earthquake unless you pay for the extra coverage.
Personal liability insurance provides additional coverage to other insurance policies. Without personal liability insurance, any thing that one's home or car insurance could not cover, one would have to pay out of pocket. Personal liability insurance will cover those fines.
A business should get commercial liability insurance because it protect the company from litigation costs. Litigation cost can drain a company cash reserves in a heartbeat of cause bankruptcy.
Commercial liability umbrella insurance has many benefits to the company. The liability umbrella insurance is pretty inexpensive compared to other coverage policies. It also provides better protection and coverage.
Liability insurance is used to cover a business if a customer or member of the public was to suffer a loss or injury as a result of its business activities and if that person made a claim for compensation.
There are multiple websites you can look at to read reviews about Umbrella liability insurance. You may also go to their website for more information.
The Company Liability Insurance is a protection service.The company that sells the insurance is called Nationwide, and the base is in Colombus. One thing that is unique with this insurance is the uninsured and underinsured mororist coverage.
Liability provides coverage for claims or losses in which you canbe held liable for damages or in which you have been accused ofbeing responsible. Comprehensive coverage would also provide coverage for otheraspects of your business, such as property, inventory, businessautos and equipment, cash flo…w, etc.. (MORE)
Yes, but the problem will be finding a carrier who will write liability coverage a building with no property coverage on it. It would probably have to be an acceptable property risk for a casualty underwriter to consider writing just liability on it and there would have to be a good reason why you d…idn't want property coverage on it. Nobody wants to write liability insurance on a dump anymore than they want to write property coverage on it. (MORE)