Public-liability insurance provides coverage for damage and injury claims of third party. This policy protects the contractors and facility owners by providing coverage from accidental damages and injuries. A specific amount of coverage for business is required by some contractors, which involves the high risk operations. Public-liability insurance has some rules, like:
Personal injury: Public-liability insurance covers the injuries claims which are made by third parties. Public-liability coverage is purchased by the contracting company or organization to protect the company from injuries claims. Such injures are caused by the company or negligence of the owner and employee of the company.
Damage of the property: If any property or possession of the third party is damaged by the policy holder, then it is also covered by this policy. Damaged property can get repaired or replaced in this policy.
Prohibit the deductible coverages: Public-liability insurance should be used by the contractors, which does not require a deductible for the client company. It is the responsibility of the insured company for all the costs associated with the coverage. Client or injured party can be allowed to file the claim against the insurance company of the insured company.
Service organizations: It is necessary for any company or service employed by the original contractor to carry the sufficient public-liability coverage. Insurance coverage can be extended by the original contractor through their own public liability insurance.
The above information is about the rules of the public-liability insurance. It may be useful to you when you take the this insurance policy.
