Common types of liability coverage from Accord Insurance include bodily injury, property damage, personal injury, products liability and contractual liability, states Accord. Its liability insurance policies cover businesses for losses incurred from lawsuits. To be covered, lawsuits must result from events on business property or from business operations.
Less common covered lawsuit types include use of force, borrowed equipment, liquor liability and non-owned vehicles. Other options are fire, lightning, explosion damage, water damage and advertising damage, notes the company. Accord Insurance liability coverage also includes liabilities unique to specific types of businesses. In addition, its liability policies provide coverage for legal fees related to covered lawsuits.
Liability policies from Accord Insurance provide products-completed operations coverage and products-liability coverage, explains Accord. Products-completed operations cover damages and legal expenses from injuries caused by a covered company's products or services. The products-liability feature is specifically designed for lawsuits resulting from products-related injuries and provides more specialized coverage than products-completed operations.
In addition to liability coverage, Accord Insurance provides commercial auto and workers compensation policies, notes the company. Whether a business needs commercial auto insurance depends on how the business uses vehicles and if employees drive company vehicles. In many states, workers compensation insurance is mandatory for all employers. Accord recommends workers compensation insurance for businesses in non-mandatory states if they have a large number of employees or if the employees engage in activities with a high risk of injury.