Garage Door Installers Liability Insurance
Do you have sound garage door installer liability insurance? You might not think about it too much, but if something goes wrong at a job, equipment malfunctions or your worker makes a mistake, your company will most likely be held liable for it.
The consequences can be damaging to you if you do not have or have substandard liability insurance. The loss of major money and maybe even your business are just a couple of bad things that could occur.
Liability Insurance Covers These Expenses
Your business GL (General Liability) policy is the major part of what needs to be a comprehensive business insurance program. GL is powerful because it normally takes care of the following:
- Any court-mandated bond premium.
- Fees incurred by: your attorney, the court, expert witnesses, having to obtain documentation, and other reasonable expenses relevant to your case.
- Any court judgment if you lose the case and the damages are expected.
- Costs that are incurred for any time you spend on your case. (An example of this would be losing money because you have to be in court.)
Who Is Covered?
Almost anyone performing duties for your business is covered. It could be you, an employee, your partner and even your spouse if any of them get sued for an action committed while they are in service as an official business representative.
What Are Common Liability Coverages?
There are several areas of possible liability your policy will protect you against:
Bodily Injury: This section of the policy covers costs related to medical care, court-ordered compensation and/or loss of services as a result of any injuries to another.
Property Damage: Sometimes an action your business takes (or fails to take) can cause damage to and/or loss of the ability to use another’s property. Property damage liability will pay out if this happens.
Products/Completed Ops: If a garage door is found to be defective after it is installed or the workmanship turns out to be poor and causes damages, your GL policy will take care of it.
Medical Payments: Expenses to minor injuries will be addressed in this section. It is set with lower limits to avoid a major liability claim on the bodily injury portion of the policy.
Personal/Advertising Damages: This will cover any claims arising from being sued for libel, slander, copyright infringement or related actions.
Damage to Premises That You Rent: If your business causes any damage to any space you rent or lease this policy section will pay for them.