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Insurance Considerations When Expanding Your Business to a New Location

Mark Jackson Insurance Agency

Without the right coverage, unforeseen challenges—such as property damage, employee injuries, or legal issues—could put your investment at risk. Commercial Liability Insurance to protect against claims related to third-party injuries or property damage. Workers Compensation Insurance to cover employee injuries on the job.

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Insurance for Apartment Building Owners: Protecting Your Client’s Investments With the Right Coverage

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For example, a resident suffered severe injuries a fractured tibia and fibula after slipping on black ice while walking to her car. It covers physical damage to the other vehicle, bodily injuries, medical expenses for anyone injured (other than the insured driver), and legal expenses if the insured is sued for negligence.

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Can Both the Contractor and Property Owner Be Named Insureds on a Builder’s Risk Policy?

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This covers accidents on the property, like third-party injuries, but not the contractor’s operational errors. In this case, the owner is covered for the physical damage to the property (e.g., damage to the structure under construction). Property owners may also choose to add Premises Liability coverage to the policy.

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Builder’s Risk Insurance in Tennessee: A Broker’s Guide 

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Premises liability claims : Legal expenses and liability coverage related to any injuries, including trips and falls, that occur on the site. Errors or omissions in their work could cause costly mistakes, injuries, or property damage. Materials : The loss of building materials that are on the site or in transit between covered sites.

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What are the most important questions to ask when choosing business insurance?

Protect Commercial Insurance

Familiarising yourself with the various types can help you craft the most effective insurance package: – General Liability Insurance : Covers third-party bodily injury, property damage, and advertising injuries. – Inland Marine Insurance for transporting equipment and goods.

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Builder’s Risk Insurance in Alabama: A Broker’s Guide 

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These include: Damage done intentionally to a covered item Injuries to employees working on the project Costs related to manufacturing defects Damages related to terrorism, nuclear attacks, or military actions Other policies should offer coverage for some of these risks. Our Builder’s Risk program does not cover some specific risks.

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