Limits, Endorsements & Exclusions for Liability Policy for Newly Formed Guard Company
Knowing the premium of the liability policy doesn’t tell the whole story. The value of the liability policy is in the details of the endorsements & exclusions. It’s going to take a lot of hard work and effort to build your company, don’t risk it all on an inferior liability insurance policy. Below is outline of typical liability policy:
Policy Limits
Standard Limits:
$1,000,000 per occurrence
$2,000,000 policy aggregate
Limits can be increase up to $10,000,000 for additional premium
Endorsements
Standard Endorsements:
-Bodily Injury/Property Damage
-Errors & Omissions (Including Financial Loss)
-Products/Completed Operations
-Contractual Liability
-Care, Custody and Control
-Work Performed by Independent Contractors
-Employees as Additional Insureds
-Assault & Battery (Including Alleged Intentional Acts)
-Personal Injury/Advertising Injury (Libel, Slander, False Arrest)
-Punitive Damages
Optional Endorsements (Adding the Endorsement will Increase Premium)
-Additional Insured
-Primary Non-Contributory Wording Per Contract
-Third Party Employee Dishonesty
-Firearms
-Guard Dogs
-Mobile Equipment (Golf Cart)
-Lost Key Coverage
-Per Job Aggregate
-Waivers of Subrogation
-Hired/Non-Owned Auto
Exclusions
-Public Housing Authority, Section 8 Housing
-Employee Related Practices Liability
-Bars, Nightclubs, Taverns (including all bouncer operations)
-Bounty Hunting/Fugitive Recovery
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What if your state insurance requirements are much less?
Can you also provide workers compensation, commercial auto and/or umbrella coverage for my newly formed guard company?
What information is needed to provide me the best possible liability quote?
