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Unlike single-family homes, apartment complexes face heightened risks damage from one unit can quickly spread to others, liability claims can stem from common areas, and evolving building codes can demand costly upgrades. The court awarded her a staggering $13 million in damages.
This could be the contractor, developer, or property owner, depending on who stands to suffer a financial loss if the property is damaged during construction. Instead, a contractor’s operations liability should be covered by a separate Contractor’s GeneralLiability policy. damage to the structure under construction).
This includes damages that arise from: Fires Theft Vandalism Weather events We are also proud to offer coverages beyond property damage for buildings, temporary structures, and building materials. Our program also offers your clients generalliability insurance, which can help cover legal costs that can occur on work sites.
Vandalism : Intentional damage to the job site by third parties, including things like broken glass or graffiti. Property damage : Damages to the building that is being constructed or renovated. Equipment : Covers damages to or theft of equipment used on the job site.
This includes coverage for: Generalliability : Covers legal costs and damages that arise from lawsuits related to this construction, renovation, or betterment project. Under-construction buildings : Covers damages to buildings or structures that are under construction, renovation, or undergoing betterment.
Familiarising yourself with the various types can help you craft the most effective insurance package: – GeneralLiability Insurance : Covers third-party bodily injury, property damage, and advertising injuries. Ask yourself: – Does having generalliability insurance save me from costly lawsuits?
This means complete property protection in the event of damages from: Extreme weather events Vandalism Theft Fire Beyond property damage, Distinguished also offers coverages for: Generalliability Soft costs Mold and fungus Off-site materials in transit How Much Does Builder’s Risk Cost in Michigan?
Penalties can vary from $750 to $30,000 per song in statutory damages and up to $150,000 per song if a jury determines the copyright infringement was “willful,” plus attorney fees. According to an article on Music Business Worldwide, the number of infringements could expose Marriott to statutory damages of up to $140 million.
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