General Liability Insurance Application Form
The General Liability Insurance Application Form (GLIAF) is a legal document that must be filled out completely and accurately. The form includes questions about professional liability insurance and commercial general liability insurance. The applicant must also complete a Supplemental Claim Information Form (SCIF), which should be attached with the application. The SCIF must list any claims the applicant has filed for the past five years.
A general liability insurance policy provides coverage for damage to property caused by a company. It may cover the cost of repairing or replacing damaged property. It covers a broad range of claims involving products, services, and other business activities. However, the premium for liability insurance will increase if a company has more than a few employees. In addition to employees, the application form will ask how many contractors and subcontractors the business employs.
General liability insurance is important for small businesses because it protects them from costly lawsuits for bodily injury and property damage. Without it, a business may end up paying out of pocket for damages, including medical bills and broken windows. The policy also pays for legal defense in the event of a lawsuit.
Whether you’re running a small business or a larger corporation, there are risks to running a business. General liability insurance can protect you from the financial burden of property damage and employee injury claims. It also offers protection against damage to your reputation. When used properly, general liability insurance will provide adequate coverage for all of your business activities.
General Liability Insurance Application Form – Get It Now
- Contractor Risk Coverage :
Contractor Risk Coverage is an important part of your construction insurance strategy. Large construction firms need specialized insurance policies to protect themselves from large losses. They buy the same insurance coverage as medium-sized contractors, but they have special needs, such as wrap-ups and OCIPs. If you’re not sure what type of coverage you need, consider contacting an experienced Commercial Risk Advisor. Pascal is an experienced Commercial Risk Broker with expertise in construction.
- Contractor Compensation Coverage :
If you own a construction company, you should make sure that you have Contractor Compensation Coverage. In many states, a general contractor is required to carry this insurance in order to provide workers’ compensation to injured workers. Without it, the business would be responsible for the injured employee’s medical bills and lost wages.
- Contractor Installation Coverage :
Contractor installation coverage is a type of insurance that protects you if you are found legally liable for damage to property. This type of coverage covers medical expenses and damages incurred by your employees or customers and extends to legal and court costs. The costs of this insurance vary but can save you money in the long run.
- Contractor Tools Coverage :
If you own equipment that you use for your business, you should consider purchasing contractor tools coverage. This type of insurance provides coverage for tools that you already have and any tools you purchase in the future. This type of insurance policy covers any type of equipment, including hand and power tools, including trailers. This type of insurance also covers your tools when they are off your property.