A small plumbing business is hired to install new pipes in a commercial building. While working on the project, one of the plumbers accidentally damages a water line, causing water to leak into the building and damage the floors and walls. The building owner files a claim against the plumbing business for the cost of repairs.
Thankfully the plumbing business had general liability insurance to cover the cost of the damage. The insurance policy pays for the cost of repairs, as well as any legal fees associated with defending against the claim. Without insurance, the plumbing business would be responsible for paying the damages out of pocket, which could be a significant financial burden.
For more information, contact the Victor Small Business team at info.smallbusiness@victorinsurance.com.
* The claims scenario is strictly documented for illustrative purposes only and provides an example of what a policy could cover. It is intended to provide a general overview of the program described. Please remember only the insurance policy can give actual terms, coverage, amounts, conditions and exclusions. Program availability and coverage are subject to individual underwriting criteria.
