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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.
Common exclusions. As with most insurance policies, there are always exclusions. The most common are: [24] General wear-and-tear maintenance; Faulty workmanship; Mechanical or electrical breakdown; Any amount over the limits shown on the policy schedule or in the policy; Restricted cover when the home is empty or is let to tenants
A common kind of warranty on goods is a warranty that the product is free from material defects in materials and workmanship. This simply promises that the manufacturer properly constructed the product, out of proper materials. This implies that the product is not defective for the purposes for which it was made.
use the term errors and omissions (E&O) insurance Other professions that commonly purchase professional liability insurance include accounting, engineering, land surveying and financial services, construction and maintenance (general contractors, plumbers, etc., many of whom are also surety bonded), and transport.
For example, if your brakes fail and you rear-end another vehicle as a result, your insurance will cover the damage to the other car, but it won't pay to fix your faulty brakes.
Some states, like California, have passed laws making it illegal to replace an airbag with a faulty one. The penalty for this fraud can land the perpetrator a year in prison and up to $5,000 in fines.
Magnuson–Moss Warranty Act; Long title: An Act to provide disclosure standards for written consumer product warranties against defect or malfunction; to define Federal content standards for such warranties; to amend the Federal Trade Commission Act in order to improve its consumer protection activities; An Act to provide minimum disclosure standards for written consumer product warranties ...
Exclusion clauses should not be subject to a strained construction in order to reduce the ambit of their operation. [8] The judge in R&B Customs Brokers Co Ltd v United Dominions Trust Ltd [ 9 ] refused to allow an exemption clause, of which did cover the nature of the implied term , on the grounds that it did not make specific and explicit ...