Contractors work in different sectors their work involves significant risk. In order to ensure that they do not suffer heavy losses, they should apply for general liability insurance. Severe accidents can bring about costly lawsuits that a contractor may not be able to handle. If they apply for contractors general liability insurance California business owners can protect themselves from the costs of lawsuits and accidents.
General liability policies protect business assets. If you have this coverage, you can rest assured that the working capital of your contracting business will not be affected by costly lawsuits. These policies also provide coverage for legal fees that may make your business go bankrupt. These include the costs of court expenses, witness fees and lawyer fees among others.
Another thing that is covered by a general liability policy is bodily injury claims. It does not matter how careful you are when carrying out contracting operations, accidents can occur especially to untrained workers. If you have such coverage, you will not suffer heavy losses due to a lawsuit that involves bodily injury. If an injury occurs, your policy can pay for the funeral expenses of any individual who was seriously injured at a worksite and died. It can also pay for court awarded compensation as well as medical bills of injured individuals.
Your policy can also cover property damage claims. It will protect your business against the costs of lawsuits filed by clients who allege that you damaged their property. It will also protect your business against lawsuits related to the services you offer or the products you sell. For example, if you install cabinets with unstable shelving in a home and they end up injuring a homeowner, your policy will cover for the expenses resulting from a personal injury lawsuit filed by the homeowner.
If you regularly advertise your contracting business, you should buy a policy that covers for brand or copyright infringement. Allegations that your business copied the advertising methods of another business or caused other types of nonphysical damages can arise. These allegations are common because of the competition that exists between businesses in the same industry. A licensed insurance agent can assist you to assess the risks of being a contractor and buy a good policy to ensure that your business will not be defenseless against lawsuits.
As you buy contractors general liability insurance, you should consider the gross income that your business makes, the type of contracting work you complete and your contractor class. You should also consider how much coverage you want and compare quotes from a number of insurers. It is also wise to choose an insurer that has a good rating.
When offering quotes, insurers usually ask their prospective customers a number of questions. You should answer such questions honestly. After getting quotes, you should note the premiums charged by different companies. It is also important to get recommendations from other contractors and find out more about the companies they have bought a policy from.
Quotes will enable you to estimate how much you will pay. You will therefore be able to make a wise decision about the firm to purchase a policy from. After you choose the most suitable policy, you should make a down payment and ensure that you pay the monthly premiums. The insurer will provide you with a certificate of insurance.
General liability policies protect business assets. If you have this coverage, you can rest assured that the working capital of your contracting business will not be affected by costly lawsuits. These policies also provide coverage for legal fees that may make your business go bankrupt. These include the costs of court expenses, witness fees and lawyer fees among others.
Another thing that is covered by a general liability policy is bodily injury claims. It does not matter how careful you are when carrying out contracting operations, accidents can occur especially to untrained workers. If you have such coverage, you will not suffer heavy losses due to a lawsuit that involves bodily injury. If an injury occurs, your policy can pay for the funeral expenses of any individual who was seriously injured at a worksite and died. It can also pay for court awarded compensation as well as medical bills of injured individuals.
Your policy can also cover property damage claims. It will protect your business against the costs of lawsuits filed by clients who allege that you damaged their property. It will also protect your business against lawsuits related to the services you offer or the products you sell. For example, if you install cabinets with unstable shelving in a home and they end up injuring a homeowner, your policy will cover for the expenses resulting from a personal injury lawsuit filed by the homeowner.
If you regularly advertise your contracting business, you should buy a policy that covers for brand or copyright infringement. Allegations that your business copied the advertising methods of another business or caused other types of nonphysical damages can arise. These allegations are common because of the competition that exists between businesses in the same industry. A licensed insurance agent can assist you to assess the risks of being a contractor and buy a good policy to ensure that your business will not be defenseless against lawsuits.
As you buy contractors general liability insurance, you should consider the gross income that your business makes, the type of contracting work you complete and your contractor class. You should also consider how much coverage you want and compare quotes from a number of insurers. It is also wise to choose an insurer that has a good rating.
When offering quotes, insurers usually ask their prospective customers a number of questions. You should answer such questions honestly. After getting quotes, you should note the premiums charged by different companies. It is also important to get recommendations from other contractors and find out more about the companies they have bought a policy from.
Quotes will enable you to estimate how much you will pay. You will therefore be able to make a wise decision about the firm to purchase a policy from. After you choose the most suitable policy, you should make a down payment and ensure that you pay the monthly premiums. The insurer will provide you with a certificate of insurance.
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