General Liability Coverages

Question 1

Each Occurrence

Answer 1

This combined single limit describes the maximum amount the insurer is willing to pay for bodily injury or property damage for any single accident, or occurrence.

Question 2

General Aggregate

Answer 2

This combined single limit describes the maximum amount the insurer is willing to pay for bodily injury or property damage for all claims that arise over the course of the policy year.

Question 3

Damage to Rented Premises

Answer 3

This limit is meant to cover two cases that are usually excluded from the coverage provided by the above two limits. Fire Damage. Short-Term Rentals (under seven days)

Question 4

Medical Expenses

Answer 4

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Question 5

Personal Advertising Injury

Answer 5

Unlike the other limits of General Liability, the Personal Advertising limit does not cover physical damages to property or person bur rather pertains to abstract, intangible damages such as damage to a brand or reputation, emotional suffering, or harassment afflicted upon a third party.

Question 6

Products Completed Operations Hazard

Answer 6

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Question 7

General Liability vs. Property Insurance: What’s the Difference?

Answer 7

General Liability is third-party insurance. It covers damage the insured causes to the property of others.

Property Insurance, on the other hand, is first-party insurance. It covers damage to the insured’s own property, regardless of whose negligence may have caused the loss.

Question 8

General Liability

Answer 8

Bodily Injury is a type of personal injury in which a business’s operations cause physical damage or illness to a third party.
Property Damage includes any physical damage to the property of a third party as a result of a business’s operations.
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