Adequate insurance coverage requires a partnership between general contractors and their insurance agents. Depending on the job, insurance protection may need to extend to equipment, business vehicles, and both domestic and foreign labor. Quality insurance companies can make certain that the scope of coverage meets the need of the contracting business, from general liability coverage to workers compensation.
While the range of insurance needs may vary, one of the most important areas of coverage is Commercial General Liability (CGL). Some of the subjects include:
- Products liability and completed operations
- Residential construction operations
- Claims regarding explosion, collapse, and damage to underground utilities
- Indemnity obligations
- Liability arising from company reliance on the Internet
Other coverage typically includes a business auto policy, contractor’s equipment floater, and umbrella liability insurance, and much more, depending on the complexity and range of bids. Insurance companies are familiar with all the ins and outs of their State requirements.
Protection for Contractors, Sub-Contractors and Clients
Even the most safety-conscious business engages in some level of risk, simply by taking on a job. Proper general liability insurance coverage protection is a way to ensure that everyone is covered in the event of a mishap. One of the best ways to know that all the bases are covered is by making an appointment and sitting down with one of the top insurance companies in your area and creating a checklist.