If you Are a Motor Carrier For-Hire Transport Operation, it is a Great Idea to Carry General Liability (GL) Insurance

General liability Insurance is intended to guard operators and owners of companies from claims that may come from a broad spectrum of sources. These exposures could arise from just about anything, including liability caused by accidents from the operations of the insured party or contractual liability or products manufactured by the insured party, etc.

Examples of situations where General Liability insurance may provide coverage for Trucking For Hire Operations:

• Customers slipping / falling on your premises
• Erroneous delivery of products resulting in damage
• Actions of a driver while representing the insured and on the premises of others, such as, loading docks, truck stops, etc
• Libel and slander exposures
• Fire on rental property due to insured’s error

 

The liability you select, whether it is one, two, or three million dollars, determines the cost of general liability insurance. Also factored into the rates are the kind of work undertaken, gross receipts and total payroll expenses. Similar to auto insurance, when it comes to general liability insurance, you will first have to make a down payment and then follow it up with installments. Before buying general liability insurance, it is best to compare the quotes available in the market.

It is the business owner’s responsibility to make sure that the people working under him/her are covered by an insurance policy. If for example, a person who is not a part of the project gets injured, the injured person’s lawyer can target just about anyone involved in the project. The more individuals that are involved, the greater the chances of a successful lawsuit.