General Aggregate Limit, the maximum amount that an insurance company will pay for one policy will not exceed. This limit does not include legal fees or expenses. It will affect how much coverage you need and how much you’ll be paying for your premium.
The general rule is that professionals who take on more risk will pay higher premiums. For example, an interior designer might pay $300-$500 for a general liability policy. On the other hand, someone who performs welding services on oil pipelines might end up paying as much as $1,500-$2,000 or more.
Higher premiums represent a greater level of risk involved in this profession.
Understanding the limit each occurrence can mean all the difference between you paying for a mistake yourself or having your insurance forgiveness it. If you have a higher limit, then your insurer will forgive the cost of a mistake and you’re not responsible for it.
If you have a lower limit, then you could end up having to pay money yourself.
In this scenario, the first claim would be covered under the completed operations portion of your CGL policy, up to $1 million. The second claim would also be covered, but it would eat into your aggregate limit, leaving you with only $500,000 of coverage left for any other claims that might come up.
That’s why it’s important to understand your CGL policy’s aggregate limit and how it works.
While every business should have general liability insurance, it’s especially important for contractors.
If you’re a contractor, make sure you have the right level of general liability insurance to protect your business.
You will need to provide them with some basic information about your contracting business. This includes your business name and address, the type of work you do, and how many employees you have. Once Pascal has this information, he will be able to give you a quote for the insurance.
If you decide to get your insurance online, Get a Quote Now. there are a few things that you will need to do. First, you will need to enter your business information into the website.
Once you have done this, the website will give you a quote for the insurance.
For example, If someone slips and falls on your property, they could sue you for their medical expenses. This is where contractor general liability insurance comes in. It is important to remember that this type of insurance does not cover every risk associated with your business.
Contractor General Liability Insurance Quote
Whether you are a sole proprietor or run a small business, you need to find a good general liability contractor insurance policy. The cost of this type of insurance can vary greatly, so it’s best to compare quotes from several insurance companies to find the best price. In addition, it’s a good idea to read the small print of your policy so that you know exactly what it covers.
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