Insurance Liability Meaning?
General liability insurance does not cover business-related traffic accidents, injury or illness to employees, damage to company property, errors in professional services, claims in excess of the policy limit, or wrongdoing by you or your employees on purpose.
Like most other types of insurance, liability policies do not cover willful acts or criminal acts. Commercial umbrella insurance that helps cover expenses that exceed the limits of the main liability policy.
An umbrella policy provides liability coverage in addition to another policy and can help provide greater protection against expensive medical bills or property repairs.
In fact, many insurance companies won't sell you a protective policy if you already have a certain amount of basic liability coverage, typically $300,000 for homeowners basic and $250,000 for auto basics.
