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Whether or not general liability insurance covers construction defects or "faulty workmanship" is a matter of some debate, as some insurers have viewed poor workmanship as a risk that is covered by a surety bond rather than an insurance policy given that a construction professional may have some influence (through attention to detail, skill, and effort) over whether such a defect occurs.
Legally required minimums only cover damage you cause. Even with comprehensive and collision, you're financially vulnerable. Learn top situations your standard car insurance won’t cover — and ...
File a Bond Insurance Claim. Before proceeding, note that you can only file a claim if the contractor is bonded. Therefore, you should only work with bonded and insured contractors for large projects.
What full-coverage car insurance includes. A full-coverage auto insurance policy combines three key protections — liability, comprehensive and collision coverage — into one complete package.
Most state insurance regulators have approved the inclusion of normal wear and tear, accidental damage from handling, rental car and towing, power surge and other coverages in addition to the standard coverage for defects in materials and workmanship. The indemnity is to cover the cost of repair and may include replacement if deemed uneconomic ...
Dangerous tasks are common in the construction workplace. Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her employer for the tort of negligence.
Unlike A.M. Best, Standard & Poor’s rates businesses across all industries, including insurance. They rate the ability and willingness of companies to meet their financial obligations on time ...
Of the subtypes of health insurance coverage, employer-based insurance remained the most common, covering 55.1 percent of the population for all or part of the calendar year. Between 2017 and 2018, the percentage of people covered by Medicaid decreased by 0.7 percentage points to 17.9 percent.