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Liability Insurance is a
broad label. It can include or exclude many coverage components. There are not any standard components, but some are
included more frequently than others and these usually are amended by the insurer to
somehow expand or limit coverage. |
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Note: |
Many insurance companies label
their polices Comprehensive General Liability. This signals that
certain hazards are covered, but only within the scope of the insuring agreements. Since
exclusions, extensions, limitations and other provisions still apply, it is always in your
best interest to read your policy. |
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It is important to understand
that for the insurance company to pay, there usually must be two conditions:
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1 |
Legal Liability
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YOU are liable
according to law and YOU could be compelled by law to pay the injured party or
the owner of the damaged property. |
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Note: |
The claimant must establish negligence. |
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2 |
Proper insurance is/was
in force according to the terms of your policy. |
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