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Liability insurance for door installers should be researched to not only get the best deal but the best coverage. A nasty liability suit unprotected by good door installer liability insurance could result in a severe financial impact to your business up to and including losing your assets!
The limits for this liability policy are stated by incident and by an aggregate of incidents usually something like 100/300 (meaning $100,000 per incident and $300,000 aggregated). Make sure you have enough limits to cover your personal assets.
This liability policy pretty much covers all the expenses that might be incurred if you or an employee gets sued in the course of doing business. They include lawyer’s fees, court costs and payment of any judgment against you or a settlement that is negotiated in good faith by both parties.
Anyone who does any work related to your business is covered by this liability policy. Here a list of most of the protections afforded to you by this liability insurance.
Bodily Injury (BI) pays out for the medical expenses and loss of wages for an individual who can prove they were hurt on your business premises. If that person chooses to go another step and sues you, any costs stemming from that will also be covered.
It is possible that while installing a door at a residence or commercial facility that you or an employee inadvertently damage another’s property. If so, the property damage section of your liability insurance will be activated and pay out up to the policy limits. This includes payment for loss of use as well as any expenses that are incurred for any repairs or replacements.
Sometimes business owners need clarification on what medical payments insurance coverage is as opposed to the medical costs paid from the bodily injury portion of the policy. For BI, you as the owner have to be found liable for the injury. Also, if the costs go above the medical payment limits, the BI would cover them. This is to insure that the injured party gets his/her bills taken care of immediately without having to wait for an official call of liability. Medical payment limits start at $5,000. (You choose the amount you want usually up to $25,000.)
With everyone seeming to scrutinize everything we do these days, someone might feel that they were libeled, slandered or disparaged in some way because of an advertisement you put out. If that person sues you, this portion of the policy will be used to defend you.
You will be protected from insurance claims for the products you used should they be found defective later. Also, if the door installation is found to be sub-par, this coverage will pay for any damages resulting from that.
This pays out for any damages incurred from a covered peril like fire, lightning or explosion, etc., at the premises you rent or occupy (not own) for your business. It will pay out up to the policy limits.