Commercial Liability Insurance is a policy that is needed to insure your business for injuries or property damage sustained by members of the public that your business may have caused. It can covers accidents occurring on your premises, or away from your premises, as a result of your businesses operations. This type of policy doesn’t fit for all businesses, auto sales based businesses can be written on a Garage Policy.
Aggregate Limits – All coverage parts have an Aggregate Limit. The Aggregate Limit is the most money the company will pay under a coverage part for all claims occurring during the policy period.
Premises and Operations – Covers damages that arise out of the ownership, maintenance or use of the insured premises.
Products – Covers damages arising out of products manufactured, sold, handled, or distributed by the named insured.
Completed Operations – Covers damage which occurs after operations have been completed or abandoned. Damage has to occur away from the premises owned by or rented me the named insured.
Basis – The basis is how the premium is calculated. Every policy is based on something – for example – Gross sales, payroll, area, etc.. Depending on your type of business these do change.
AIP writes many Small Business Liability Insurance policies every day. No business is too small to save money. We get many requests for business insurance quotes daily since we save people money and provide excellent service. No matter how small a business is, we all could save some money here and there.
Every policy is different and every insurance carrier may add different coverage’s, your individual needs and situation will impact the type of policy you will get and the coverage that will be offered.