Understanding Comprehensive Standard General Liability Insurance Policies

What does a comprehensive standard general liability insurance policy cover?

A comprehensive standard general liability insurance policy is typically used in cases where contractors or tenants are involved in operations. What are the common coverage provided by this type of policy?

Answer:

A comprehensive standard general liability insurance policy covers property damage to other parties as well as bodily harm. In simpler terms, it provides protection in case of accidents resulting in injuries or damages to third parties.

When it comes to insurance policies, comprehensive standard general liability insurance is one of the most common ones used in the construction industry. This type of policy provides coverage for property damage and bodily harm caused to third parties during operations performed by the insured party.

The coverage typically includes damages or injuries caused to employees, pedestrians, equipment, and materials purchased by the insured. However, it's important to note that the coverage may vary depending on the specific terms and conditions outlined in the policy.

In the scenario provided, the insurance company would be liable for the $1,800 damage to the pedestrian, as it falls under the coverage of the policy. The other damages related to the contractor's equipment and loss of project materials are not covered by the insurance policy.

Additionally, the $500 deductible per occurrence would apply in this case. This means that the insurance company would be responsible for the amount exceeding the deductible, which in this scenario would be $1,300.