How to Protect Yourself with Contractors General Contractors Liability Insurance
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When you’re talking to people and you say you’re a contractor they probably envision that you are responsible for erecting skyscrapers. They also might picture you wearing a hardhat and a bright reflective vest while you sip on a hot cup of coffee and listen to ACDC. And while you might do some of things, we doubt you fall into that exact stereotype. See, contractors come in all shapes and sizes and they’re all extremely unique. But, as unique as they are there is one policy that all contractors need (thanks to Uncle Sam) regardless of how unique their occupation may be. Here’s why you need General Contractors Liability Insurance.

General Contractors Liability Insurance

As we said above, general contractors liability insurance is required by law (at least in most states). And, when it’s not, it’s typically a stipulation or requirement in your contract. And if you don’t have it you could find yourself paying a crippling amount of money in fines. But, beyond avoiding fines, what are the advantages to having a liability insurance policy and why do banks, clients and government officials want you to have this policy? Well, you might be surprised (but probably not).

General Contractors Liability Insurance (CGL) is designed to act as your safeguard against lawsuits, injury, accidents and property damage. Today, lawsuits are more prevalent than ever and people will search for any reason to get a discount on that new addition to their home. And let’s face it, your services (as a contractor) aren’t cheap which could result in more people trying to make those services cheaper. Luckily, if you have a liability insurance policy you will not have to worry about any unnecessary litigation. But, litigation isn’t all that it covers. Your CGL will also cover…

·         Medical expenses for individuals injured as a result of your business

·         Expenses related to property damage if that damage is a result of an accident caused by your business

·         Any additional claims brought against you or your employees



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