Every year, more than 4.1 million American workers suffer a serious job-related injury or illness. These incidents hurt not only the employees involved, but their employers as well. In 2013, employers lost nearly $62 billion as a result of workplace accidents that caused employees to miss six or more days. These sobering statistics highlight the necessity of developing an accident prevention program for your construction site. Read more
It shouldn’t come as a shock to say that construction sites are hazardous places to be. This goes for bystanders as well as highly-trained workers. In fact, in terms of frequency of accidents, only the agricultural sector beats construction work.
To start, let me just say that I am the master of breaking things. Put me in a room with your most expensive china and most of it (at least of the china I used) will probably be broken. I swear it is unintentional. It just happens. And, like most accidents, there is no rhyme or reason to it and no way to be prepared. So, if a disaster-waiting-to-happen (like me) is planning on visiting you at work you may want to consider protecting your assets with contractors liability insurance. That doesn’t mean you need to lock all of your valuables away or hide your fragile objects but you may want to get your business insured. Contractors liability insurance will make sure that your business does not fall victim to potential litigation as a result of an accident. Here is what you need to know:
Contractors Liability Insurance – Your Key to a Safer Future
You just invited a client over to meet with them about their future project (sometimes you go to their place of residence but today they decided to come to you). Problem is, on their way in they tripped over the door mat and injured their shin on your concrete floors. And now they are threatening you with a lawsuit. Luckily for you, you have liability insurance which protects you against third-party claims of property damage, injury or even death. You can also extend that coverage to protect your products or business from damage incurred by your employees. Accidents can happen anytime and anywhere and your best protection will come from liability insurance.
Is Contractors Liability Insurance Required?
Yes. Well at least in most states. And when states do not require some form of liability insurance the projects you are working on will probably require it. So, if you don’t have it you may want to go out and get it. You never know when you might need it next. Contractors liability insurance will keep you and your business safe from litigation if (and when) it pops up.