Common use of Minimum Amounts of Insurance Clause in Contracts

Minimum Amounts of Insurance. Contractor shall maintain the following insurance limits: 1. Automobile Liability insurance with a minimum combined single limit for bodily injury and property damage of $1,000,000 per accident. 2. Commercial General Liability insurance shall be written with limits no less than $1,000,000 each occurrence, $2,000,000 general aggregate and a $2,000,000 products-completed operations aggregate limit. 3. Builders Risk insurance shall be written in the amount of the completed value of the Project with no coinsurance provisions. 4. Employer’s liability insurance each accident $1,000,000; Employer’s Liability Disease each employee $1,000,000; and Employer’s Liability Disease – policy limit $1,000,000.