If you are a General Contractor and Don’t Have it or never heard of it, you need tocall us immediately. Damages covered by your Contractors Liability Insurance may pay these types: Compensatory Damages Financial losses of the claimant, including additional monetary losses resulting from the claim...
What Does a General Contractor Do? A general contractor provides oversight and management for construction work. General contractors oversee the process of supplying crucial elements like materials, labor, and equipment. These small businesses are mostly privately owned or independent and function separatel...
As a reputed contractor, know the different types of contractor insurance offered in California. Some of the insurance policies to opt for as a general contractor include: Contractor General Liability Insurance It is a unique type of contractor insurance for professionals and small business owners. F...
Liability Insurance would kick in to address the lawsuit and potential damages. Tool Theft: A contractor's van, filled with expensive tools, is broken into overnight, and essential equipment is stolen. Their inland marine policy or contractor's tools & equipment insurance would cover the lost ...
In some instances there is no cost savings. Claims made polices for a contractor are the worst possible policy you can buy. Let me explain: Claims made policies allow you to make claim on your policy only during the year they are in force. Contractors have claims down the road, not alway...
You may be wondering why anyone would ever deal with an uninsured contractor and open themselves up to that kind of liability. Most homeowners do it to save money. These types of contractors tend to charge a significantly lower price. Aside from the risks you are taking the quality of the ...
There are two types of general liability contractor’s insurance determined by the claims that cover: occurrence and claims-made. Occurrence policies work for claims that arise during the policy period and are independent of the time of claim filing. On the other hand, claims-made policies provid...
contractor’s insurance, including builder’s risk insurance, commercial property insurance, worker’s compensation insurance, and general liability insurance. You can select the kind of policies that yourlicenseneeds according to your requirements and the risk-bearing capacity of your construction project...
Possibilities With Certain Types of Coverage Is contractor liability insurance required for your home or office? If you own a home, you will probably need more than just general liability insurance. You will need to have coverage for liability and the like with any contractor. The reason is tha...
With that said, a general contractor’s work doesn’t end with overseeing the project. A licensed general contractor usually takes on other responsibilities such as securing worker’s compensation and liability insurance for everyone in the project. ...