What Is Contractor’s General Liability Insurance?
Contractor’s General Liability insurance is for residential and commercial builders, general contractors, construction managers, design and build firms, specialty contractors or subcontractors, owners or public and private construction projects.
This kind of liability insurance is an essential form of business insurance coverage that protects you and your team members, as well as your contracting business, from unexpected financial loss. In the unfortunate case where you are held responsible for damages that occur to a third party — such as an individual, or a building property — you would be required to cover the entire cost of the injuries and damages. Retaining contractor’s liability insurance will help you cover the cost of any such damages along with potential legal defense expenses too.
Liability insurance provides coverage for you in the following areas:
his includes injury to other persons at your business or on your client's property.
This includes damage to the property under construction or related damages.
This includes damages caused to a person or business as a result of advertising.
This includes payment of medical expenses to a person injured on the job.
Do You Need Contractor’s General Liability Insurance?
Just one mistake or accident could bankrupt your company or destroy your income as a contractor. Global Insurance Agency wants to help you get the protection you need. If you work as a contractor in a service industry, it’s crucial to have contractor’s general liability insurance.