Liability insurance for contractors
Common types of liability insurance contractors should be aware of.
Liability insurance is any insurance policy that protects a contractor from the risk that they may be sued and held legally liable for something such as injuries, accidents or property damage suffered on the job.
Commercial general liability protects your business if there is an injury to third parties or damage to third party property. It also covers damage or injury caused by completed operations and it can be extended to cover rip and tear in order to repair faulty workmanship.
Non-owned auto liability is important if your employees are using their own vehicles for business and it is secondary to the employees own coverage.
Tenants legal liability protects you from costs associated with damage that occurs to premises you rent or lease.
Wrap up liability includes coverage for all trades working on a project. It ensures that no trades work on a project uninsured.
Pollution liability covers the costs to cleanup and restore property damaged by sudden and accidental escape of pollutants.
Umbrella liability increases auto liability and commercial general liability and is a way to add coverage to any/all other liability policies listed under the umbrella.
An experienced broker can help you decide what you need.
The best way to make sure you know you have the right insurance coverage is to talk to an experienced insurance broker when you're requesting a quote. Someone who takes the time to know you and understand your situation – maybe even review your contract or service agreement. Establishing a strong relationship with your broker will ensure you have the coverage you need, you understand what you have and you know who to contact if you ever do need to make a claim.
If you need help or have more questions about contractor liability insurance, we’d love to hear from you.
