Contractors offer many services and their occupation involves a number of risks. Contractors can protect themselves from heavy losses by buying general liability insurance. One accident can result in a lawsuit that they may be unable to handle. By applying for contractors general liability insurance California residents can protect their contracting businesses and themselves from events that are beyond their control.
One of the things that general liability coverage protects is business assets. It provides the peace of mind that a contracting business will have the money needed to continue its daily operations even if it is facing a costly claim. It covers the legal fees that may easily cause a small construction or contracting business to become bankrupt. This includes the costs of lawyer fees, court expenses and witness 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 for property damage claims if you are accused of damaging the property of your client. It can also protect your business is sued by a client who does not like the services you offer or the products you sell. For instance, your policy can cover the costs or compensating a homeowner who gets injured by a product you installed such as a cabinet that has unstable shelving.
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.
To apply for general liability coverage for contractors, California dwellers should consider the gross income of their contracting businesses, their contractor class, the kind of contracting work they do and the amount of coverage they want among other things. They should then compare quotes from different insurers. They should also consider if an insurer has a good insurance rating such as an A minus and above.
Owners of contracting business should answer the questions that insurers ask in order to provide them with quotes. They should record every quote, noting the price of each insurance carrier. They should also speak with other contractors and ask about the insurers they work with and how well the companies perform.
With quotes on hand, contractors can know how much their policy will cost. They can therefore make informed decisions on which insurer to buy a policy from. After deciding which company to buy a policy from, they should make a down payment for the policy they choose and continue making the monthly payments. The insurer will provide them with a certificate of insurance.
One of the things that general liability coverage protects is business assets. It provides the peace of mind that a contracting business will have the money needed to continue its daily operations even if it is facing a costly claim. It covers the legal fees that may easily cause a small construction or contracting business to become bankrupt. This includes the costs of lawyer fees, court expenses and witness 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 for property damage claims if you are accused of damaging the property of your client. It can also protect your business is sued by a client who does not like the services you offer or the products you sell. For instance, your policy can cover the costs or compensating a homeowner who gets injured by a product you installed such as a cabinet that has unstable shelving.
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.
To apply for general liability coverage for contractors, California dwellers should consider the gross income of their contracting businesses, their contractor class, the kind of contracting work they do and the amount of coverage they want among other things. They should then compare quotes from different insurers. They should also consider if an insurer has a good insurance rating such as an A minus and above.
Owners of contracting business should answer the questions that insurers ask in order to provide them with quotes. They should record every quote, noting the price of each insurance carrier. They should also speak with other contractors and ask about the insurers they work with and how well the companies perform.
With quotes on hand, contractors can know how much their policy will cost. They can therefore make informed decisions on which insurer to buy a policy from. After deciding which company to buy a policy from, they should make a down payment for the policy they choose and continue making the monthly payments. The insurer will provide them with a certificate of insurance.
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