Make sure you understand what your CGL policy covers.
The most common insurance policy that construction professionals think of when involved in a project is called either a commercial general liability insurance policy or a comprehensive general liability insurance policy. The basic concept of this type of insurance is that it provides broad coverage for accidental occurrences that result in personal injury or property damage to third parties. It typically does not cover intentional torts, defective construction itself, or consequential damages. The better way to think of what this type of insurance covers or doesn’t cover is that it doesn’t cover business risk – which is typically time, and time is money in construction. This video reviews CGL property damage or bodily injury, policy period and triggers, exclusions involved in construction claims, subrogation, and notice and other requirements.
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