Completed Operations coverage is a feature of your general liability insurance that protects your business from claims of injury or property damage that occur after you have completed a job. This coverage is essential because it addresses risks that might surface after your work is done, whether it's days, weeks, or even months later.
Imagine you run a window & glass contracting business. A few weeks after completing a window installation, the window unexpectedly breaks, causing injury to the homeowner. The homeowner files a claim against your business for damages. Here, your Completed Operations coverage would step in to handle the claim, covering legal fees and any damages awarded.
Having Completed Operations coverage is important for:
- Protecting your business from liability for injuries or damages that occur after your work is completed.
- Ensuring the longevity and reputation of your business by handling post-completion claims professionally.
- Providing peace of mind that your financial stability is protected against late-emerging risks.