Before purchasing construction general liability insurance in Newton, NJ, individual contractors and firms should understand the basics of CGL policies. These are considered stock policies with affordable but limited coverage. Most agencies offer a full gambit of add-on policies to cover niche industries or common concerns. While more tailored options are available, they may not be necessary for new or straightforward businesses.
General Liability Coverage
Traditional construction general liability in Newton, NJ will cover normal business risks including visitor injury and minor property damage. The insurance will typically take care of the legal defense costs for any suits or settlements depending on the details of the incident. CGL insurance programs are often part of a larger Business Owners or Commercial Property Policies. It is rare for an enterprise to just have a CGL as it excludes some common exposures.
Common Exclusions and Additions
Most policies for construction general liability in Newton, NJ exclude the following liabilities:
- Professional Services
- Directors and Officers Liability
- Pollution Risks
- Employee Injury
- Errors and Omissions
As a result, many companies have add-ons or use CGLs in conjunction with larger programs. Errors and Omissions policies are one of the most popular extras in construction insurance. They are similar to malpractice insurance insofar as they protect against accidental mistakes during the project’s process.
In the long run, standardized CGL insurance is a cost-effective option for enterprises without overly complex exposures.