That’s why general contractors need general and professional liability insurance. Many general contractors may opt for a business owner’s policy, which bundles general liability and...
15% of the American workforce are independent contractors. With so many workers choosing to be independent, liability insurance coverage for independent contractors is also becoming more vital to a functioning workforce. Risks and liabilities for these contractors can be costly to remedy. Liability insurance for self-employed contractors protects against the disadvantages of working independently as a self-employed professional in the IT, construction, or any other industries. Do you consider yourself as an independent contractor for constructi ...
Accidents can happen on the construction site that results in bodily injuries or property damage to third parties and employees. Materials and equipment can also get lost or damaged. Given the risk you are exposed to, you ought to invest in general contractor insurance, which comes in two types. This protects your business from potential lawsuits and other claims. Contractors taking on commercial builds need commercial general contractor insurance, while those involved in residential projects will require residential general contractor insuranc ...
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, General liability insurance ; Definition, Insurance that protects contractors against claims that their work led to bodily injury or property damage. Most policies also cover libel, copyright infringement, and slander. ; Type, Third-party ; Coverage, Attorney fees, court costs, settlements, and judgments for covered claims made during the coverage period, typically including completed operations ; Add-ons, Some policies allow for extensions that include equipment, data breaches, and credit monitoring ; Exclusions, Does not cover employee injuries, errors and omissions, and pollution ; Cost, Varies according to risk profile, claim history, geographical region, desired coverage limits, and business revenue
Company ; Allstate ; CNA ; Farmers ; Frankenmuth ; The Hanover ; Westfield ; Markel ; Nationwide ; Chubb ; Travelers
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You’ve worked hard to build your business, so it might be worth considering insurance to help keep it protected. Youi’s Small Business Insurance automatically includes products and public liability cover (sometimes called ‘business liability insurance’). But what exactly is it? · Products and public liability insurance can cover your legal liability to pay compensation to a third party for personal injury, property damage or advertising liability caused by an incident in connection wit...
What is public liability insurance? ; Public liability insurance is a type of business insurance. It can provide protection for business owners if you’re taken to court because your business activities result in someone being injured or killed or cause damage to someone else’s property. It can cover your legal costs and any compensation you may have to pay. Any business can take out public liability cover, regardless of size or type. This includes those who are self-employed, freelancers and...