Your CGL and Property Insurance May Not Cover All The Property You Think It Should

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Typical CGL policies state that they cover damage to property “to which this insurance applies.” CGL policies commonly exclude from coverage property owned or rented by the insured, property rented by the insured, and property under construction. Similarly, property insurance such as builder’s risk and commercial property narrowly are tailored to cover only specific types or areas of property. The extent of coverage often is determined by the description listed on the policy schedule, not how the insured uses its property.

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Published In: Construction Updates, Insurance Updates, Commercial Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Chandra Lantz, Hirschler Fleischer | Attorney Advertising

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