Contractor Liability Insurance
Contractors liability insurance is liability insurance that provides coverage to contractors and building professionals for construction errors. The policy is designed for a contractor’s specific liability coverage needs and protects against possible accidents and the liability that may arise from these. It will protect you if you are accused of causing injury or property damage, as well as negligence. When working as a contractor, ample opportunities for injury or damage present themselves. Contractor liability insurance assists with legal fees to keep your business in operation and avoid financial devastation.
Why Do Contractors Need Insurance?
contractor liability insurance
Defending yourself against lawsuits is very expensive. By purchasing this type of insurance, you can protect yourself against lawsuit coverage for accidents, injuries, and some work mistakes. In Addition, Contractor insurance enables you to focus on your work without distractions. With the right contractor liability insurance, you can have the confidence to take on big jobs without fear of what could happen or worry about if something goes wrong. Also, having contractors liability insurance proves to your customers that not only will you do your job properly, but you can show them that you have an edge on your competition. Contractor’s insurance is a must for anyone who works with residential and commercial buildings, such as general contractors, handymen, carpenters, electricians, plumbers and more.
Contractor Liability Insurance Coverage
Injury claims: The policy will protect you if you are accused of causing injury, covers medical expenses, funeral, and court-awarded compensation.
Damage claims: Provides the insured party with protection against claims resulting from property damage.
Product claims: Claims related to damages involving products or completed operations, can be managed and addressed through the liability insurance coverage.