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What is Construction General Liability Insurance Protection?

There are many inherent risks in running a construction company. As well as the risks of being in business. You have to worry about copyrights, and personal damage to a competitor. You also have to worry about personal injuries and property damage. These risks can be overwhelming both psychologically and financially. This is true if you do not have the proper insurance.

This is where construction General Liability insurance protection comes into play. This insurance policy protects you from the hazards mentioned above. It will also help you find more clients. They do not have to worry about any heavy financial losses while working with you. In this article, we’re going to take a look at General Liability insurance and what it entails.

The benefits

The first and most obvious benefit of Construction General Liability Insurance protection policy for contractors is that it will protect you, your employees, and your subcontractors. This is in case there is an injury, property damage, and any damage done to a third party through advertising and marketing. Moreover, you’ll have coverage in terms of costs and damages after a judgment. You can use it to cover your court expenses, witness fees, attorney fees and more.

Ultimately, contractors liability insurance gives you the peace of mind you need to run your business smoothly and effectively.

What Contractors Liability cover?

In addition to property damage, injury, personal damage and advertising/marketing damages, construction General Liability Insurance protection also offers coverage for completed services and products. For example, if you’ve built a staircase for a client, and one day, a stair breaks and the client is injured, they have a case against you.

With General Liability insurance, you have coverage for both the medical and legal costs. You will also be protected against several other nasty cases. These include copyright infringement, libel, slander and stolen ideas.

Not only that, but you can cover the actions of your employees and subcontractors. After all, courts hold the general contractor liable for anything that goes wrong during and after a project.

How are insurance rates calculated?

A few factors decide your insurance rates. These factors will determine whether you have to pay hundreds of dollars or thousands of dollars for your coverage, and they are pretty uniform across the board. The provider will take into account your location, number of employees, the type of work done, and the revenue of the company, along with your claim history.

Your deductible will also have an impact on your rates, with higher deductibles leading to lower rates, and vice versa.

Working with the right provider

Finding the right provider is as important as having Construction General Liability insurance protection because the right provider will help you pick the best coverage for your budget and necessities.

With a strong customer support team and insurance agents, the right provider will have you covered at all times for the best price. If you would like to find out more about our insurance offer, contact Contractors Liability at 866-225-1950.

Avatar for John Brown
Written by: John Brown
John has more than 25 years of experience in the insurance industry. He grew from a star insurance producer to owning one of the largest agencies in the country; he's a reference regarding contractor's insurance, commercial insurance, and builders' risk insurance.