1503 West 32nd Ave Anchorage, AK 99503 Phone (907) 274-4142 Fax (907) 274-8721 Additional Resources Assuming the Liability of Others General Liability Defined

Commercial General Liability Commercial general liability coverage is one of the core coverages of a commercial insurance program, and provides a layer of protection for the named insured (generally the business owner) from property damage and bodily injury suffered by a third party as a result of the operations or premise conditions of the business. Generally the policies include per occurrence limits, aggregate limits, products/completed operations limits, personal/advertising injury limits, fire legal tenant limits and medical expenses. In some cases these exposures will be excluded or included within shared limits, in either case, review your policy and understand what you have. We recommend you do not carry liability limits below $ 1,000,000 / $ 2,000,000. Cutting limits in the name of saving premium is an unsound strategy, as the premium savings are often minimal and the sacrafice of coverage can be great. Most of the premium is front loaded into the policy, so the limits on a standard general liability policy are typically only a small portion of the overall pricing. If you can increase your coverage from $ 500,000 to $ 1,000,000 fora nominal cost, do so. Manipulation of deductibles can result in savings, but again, in some cases it may be negligible, so if you elect to take a higher deductible make sure you (1) have finances on hand to cover that deductible if needed and (2) compare the immediate cost savings of having the deductible versus the likelyhood of a claim and the likely cost of such a claim. Business Insurance Associates, Inc. has access to top rated national and regional equipment breakdown coverage providers, allowing us to craft programs specifically tailored to your business needs, addressing the exposures you want coverage for, and doing so at competitive rates. To receive more information on equipment breakdown coverage, contact us below: Personal Name Business Name Phone Number