CSP Insurance Services Home Page
  • Home
  • Get A Quote
    • Annuities
    • Automobile
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Builders Risk
      • Workers Compensation Quote
      • Employment Practices Liability Insurance
      • Technology Errors & Omissions Coverage
    • Condominium
    • Flood
    • HealthImage of right arrow
      • Health Insurance Quote
      • Disability Insurance Quote
      • Long Term Care Insurance Quote
    • HomeownersImage of right arrow
      • Homeowners Insurance Quote
      • Homeowner Flood Quote Form
    • Life
    • Motorcycle
    • Renters
    • Watercraft & Boat
  • Customer Service
    • AutomobileImage of right arrow
      • Request ID Card for Auto Policy
      • Add Vehicle to Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Add Driver to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
    • Business & CommercialImage of right arrow
      • Request ID Card for Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Add Driver to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Request General Liability Certificate of Insurance
  • Claims
    • Automobile
    • Business & Commercial
    • Homeowners
  • Blog
  • Make a Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Free Reports
    • Insurance Glossary
    • Frequently Asked Questions
    • News Center
  • About Us
    • About CSP Insurance Services
    • Location Map
    • Employee Directory
    • Privacy Policy
  • Contact
    • Contact Us
Alternate Content
Commercial Personal Life & Health Real Estate Get A Quote
Home > Blog > What is a Completed-Operation Liability?
MONDAY, NOVEMBER 30, 2020

What is a Completed-Operation Liability?

What is a Completed-Operation Liability? 

business owners shaking handsWhen insuring your business, you’ll need commercial general liability (CGL) insurance. This coverage will protect you against numerous scenarios where your mistakes or negligence might accidentally harm others. Even when this harm was unintentional, you might still have a responsibility to pay the recovery costs of the affected person. Liability insurance will help you do so. 

General liability insurance will usually contain coverage for several types of third-party losses. One of these is completed-operations liabilities. Completed-operations liabilities are unique because they don’t necessarily exist while you are doing your work. Instead, they arise after the work is done.  

What many business owners fail to realize is that their work can impact people long after they finish direct services. Therefore, they will need liability coverage for the risks that exist after they think they have finished their work. It is completed operations liability insurance that will provide this benefit.  

Let’s take a closer look at this unique coverage.  

Completed Operations Liability Coverage in CGL Insurance 

A completed-operations liability is a liability that exists after you finish your work for a client. Even after you have done your job, a client might still sustain harm as a result of a mistake on your part. Completed-operations liability insurance often applies to service providers for this reason.  

For example, if you are an electrician, then you might visit someone’s home to install new light fixtures in their dining room. While everything might seem fine when you finish the work and leave the house, a hidden threat might lurk in a piece of wiring that you failed to attach properly. A fire might break out, cause considerable property damage and in a worst-case scenario even burn one of the residents. 

As a result, the customer might blame you for their losses. They could sue your business for thousands of dollars. Even if you didn’t intend for the fire to occur in the first place, even if the faulty wiring was a simple oversight on your part, you still have to respond. 

With the benefit of completed-operations liability insurance, you can compensate the affected party for their injuries and property damage. You can also use your plan to cover both your own legal costs and the legal costs of the claimant, if necessary. 

All in all, completed operations insurance is just another way that your liability insurance helps you keep your business secure. You can’t predict if a problem will happen, but you can ensure that you have the right financial protection from it. That way, your business won’t tank just because of a challenge that arises. 

 

Posted 7:40 PM

Tags: commercial general liability, business insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2020
  • 2019

  • insurance(15)
  • south carolina(6)
  • auto insurance(5)
  • florence(5)
  • home insurance(5)
  • business insurance(4)
  • commercial auto insurance(4)
  • homeowners(3)
  • coverage(3)
  • general liability insurance(2)
  • workers compensation insurance(2)
  • storm damage(1)
  • commercial general liability(1)
  • liability(1)
  • workers compensation(1)
  • falling object(1)
  • gap insurance(1)
  • renters insurance(1)
  • loading and unloading insurance(1)
  • clothing boutiques(1)
  • modular homes(1)
  • exotic pets(1)
  • sc(1)
  • premiums(1)
  • prefabricated homes(1)
  • sports car(1)
  • dog bites(1)
  • manufactured homes(1)
  • personal possessions(1)
  • one policy(1)
  • coverage types(1)
  • workers(1)
  • general liability(1)
  • discounts(1)
  • stay at home(1)
  • repetitive injuries(1)
  • business failure(1)
  • venue owners(1)
  • home foundation(1)
  • trucking insurance(1)
  • auto(1)
  • home(1)
  • compensation(1)

View Mobile Version
Copyright © 2021 CSP Insurance Services |
2420 Hoffmeyer Rd, Suite D | Florence, SC 29501
| Ph: 843-519-255
Privacy Policy
Licensed in SC, AL, AZ, FL, GA, IL, KY, LA, MA, MO, MS, NC, NM, NV, OR, RI, TN, TX, VA, WI
Facebook Twitter LinkedIn Google+ Blog RSS Feed