You may be surprised to learn that contractors do not have a specific type of insurance specifically designed for their business. Instead, contractors are often covered by the same general liability policies as businesses and homeowners. This means that if someone is injured on your property or you are sued because of something that happened at work, you may be able to file a claim with your homeowner’s (or general liability) insurance policy and get paid for any damages caused by those claims.
What is general liability insurance for contractors?
General liability insurance is a type of property damage and bodily injury liability policy that protects your business from claims made by third parties. This coverage can be purchased to protect your company from lawsuits, accidents, injuries and property damage.
While there are many different types of general liability policies available to contractors, they all have one thing in common: they provide financial protection against lawsuits brought against you as well as any damages or losses incurred from them (including legal fees).
Why do contractors need general liability coverage?
The danger of injuries always exists and the best thing you can do about it is get yourself some good California contractors liability insurance that will keep you protected. If you are still on the fence about whether you need such a thing, I suggest you start doing your research right away. Once you understand what insurance actually means for you and your business, I have no doubt that you will start seeing it as a great idea.
How much does general liability insurance for contractors cost?
General liability insurance for contractors is a type of professional liability coverage that protects you and your business from financial consequences if someone is injured on your property or during the course of their employment. There are two types of general liability policies: commercial and personal.
General Liability Coverage
If you’re a contractor, most general liability policies will offer coverage for anyone who works at your company’s site—whether it’s an employee or subcontractor (like an independent contractor). Most also cover any injuries sustained by visitors to the property and other people who might encounter problems while visiting or working onsite. In some cases, this may include damage caused by employees breaking off pieces of equipment during repairs; however, many companies exclude these types of incidents from their policy because they don’t consider them part of normal construction activity.
Does my business need general liability insurance?
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General liability and other types of coverage can protect your business in the case of damage to a third party’s property or injury to a worker or customer.
General liability coverage protects your business from lawsuits brought by third parties, including injuries to employees and customers. However, general liability insurance is not enough to cover all the risks involved in running a business. In addition to general liability coverage, other types of insurance may also be required for your business. Some types of insurance are required by law; other types are optional but can protect you if an accident occurs or another incident occurs that damages someone else’s property or injures someone working for you as an employee or independent contractor.
Conclusion
In general, most businesses will need to purchase some form of general liability insurance for contractors. This type of coverage protects you against claims of negligence or damage to property caused by your company’s activities. If you are considering purchasing such insurance, be sure to select a policy that offers enough coverage and protection levels at a reasonable price.