$ amount most companies require for liability insurance from vendors?
July 17, 2010 - 4:07 am
What is the dollar amount most companies require for liability insurance from vendors?
Mostly it’s $1,000,000 for auto, general liability, product liability, and professional liability, with 500/500/500 for comp. Some will also require a $5,000,000 umbrella.
July 17th, 2010 at 9:23 am
It depends on the kind of vendor. If you are in the construction industry, it is usually $500,000 to $1,000,000.
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July 17th, 2010 at 9:36 am
depends on what the extent of their liability could be they would want insurance to protect and defend thewm for that amt.
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July 17th, 2010 at 10:26 am
Depends on the type of company, but 1 million is not unusual.
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July 17th, 2010 at 10:39 am
Mostly it’s $1,000,000 for auto, general liability, product liability, and professional liability, with 500/500/500 for comp. Some will also require a $5,000,000 umbrella.
References :