You can usually make an offer on a project without contractors liability insurance. Chances are that when it comes to the time the work is going to be performed that you will need to produce proof of insurance to unpack your tools and get to work. If it is not the homeowner or the bus...
Another essential thing to think about is the types of accidents you could be at risk for using your contractor’s liability policy. For example, if you are using large excavating equipment, you might be at risk of a slip and fall, an automobile accident, or falling debris. Even though yo...
A COI is a very common document in the construction insurance world. It is an official summary of coverage issued by a representative of an insurance company. A project owner might request a COI to have proof that your insurance coverage meets the requirement of a contract, for example. Since...
Errors, risk and omissions insurance provides coverage to professionals including consultants, accountants and attorneys. It provides protection against a disgruntled customer or client suing you for mistakes, nonperformance or poor performance. For example, a consultant analyzes operations and recommends cha...
For example, in California, theContractor State Licensing Board(CSLB)has authority to issue a Stop Orderwhere there is no workers’ compensation insurance coverage for employees. The municipal or city government may govern these orders as well.Contractors should check their construction contract and ...
Types of Contractor Insurance Now you know who needs contractor insurance and a few of the reasons why. But what types of insurance do you require? General liability insurance: This is the type of insurance that covers damage to someone else’s person or property. For example, if a customer...
Types of Contractor Insurance Now you know who needs contractor insurance and a few of the reasons why. But what types of insurance do you require? General liability insurance: This is the type of insurance that covers damage to someone else’s person or property. For example, if a customer...
General liability insurance is essential for the construction workers and contractors because it offers protection from all kind of risks that exists in the construction industry. Moreover, even when any accidents take place at the construction site, the insurance will keep the assets and investments...
If a contractor does a poor job, for example, improperly installing roof shingles, a standard policy won’t rectify such a situation because most exclude inadequate workmanship from its protections. A contractor with General Liability insurance would have to redress that by either replacing or repair...
Additionally, CAR policies may be designed to includelosses incurred when start up is delayedbecause of another insured loss. For example, if a structure is damaged and is covered by CAR insurance, then the losses incurred as a result of a delay in opening the property while the damage is ...