Contractor Liability Insurance
Contractors liability insurance is liability insurance that provides coverage to contractors and building professionals for construction errors. It provides coverage for a contractor’s specific liability coverage needs and protects against possible accidents and liability. It will protect you if anyone accuses you 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. 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. The 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
These are the list of contractor liability insurance coverages:
Injury claims: The policy will protect you if anyone accuses you 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: It covers claims related to damages involving products or completed operations, and addressed through the liability insurance coverage.