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Not all contractors face the same risks in their trade.

However, you do all face the kinds of risks that can cause bodily injury and property damage. Whilst the causes may vary, the chance of financial loss is the same for any contractor without Contractors Insurance. 

Are you any of these kinds of contractors? Take a look at some of the ways you could be held liable:

 

  • Electrical and Plumbing Contractors

 

Electrical and plumbing contractors wondering whether they should take up Contractors Insurance should get insurance cover that specifically includes protection against bodily injury and property damage claims. 

Of course, it is a legal requirement to have general liability insurance, worker’s compensation, third-party liability, and auto insurance wherever applicable. 

Bodily injury may occur anytime and in any place – even if you have the best security measures in place. For instance, a client may accidentally be hurt tripping over a cable when inspecting works. 

What about property damage? This may occur if one of your employees accidentally drills into a water supply pipe causing flooding, electrical faults and damage to finishes in the project. Property damage may also be as a result of Acts of God on contracted works, such as fires, floods and earthquakes.

So here’s the bottom line: in addition to complying with the legal requirements by the state, Contractors Insurance gives you financial cover against these risks. 

 

  • Painting Contractors

 

Painters also face a number of risks on site. Instances of bodily injury may include a client slipping on spilled paint and breaking a hip. 

Risks of property damage may also apply in painting contracts. For example, the accidental spillage of large amounts of paint to carpeted and wooden floors may demand complete replacement of the flooring. Your painting business will be held liable.  

Another important thing to know about Contractors Insurance is that it covers instances where your employee slanders and defames the client, resulting in a lawsuit. 

 

The bottom line:  Contractors Insurance, increases the client’s confidence in hiring your business, since they have the assurance that the work will be completed and that any risks will be borne by the insurance company.

 

  • Carpentry Contractors

 

A lot could go wrong during a carpentry job, causing great financial loss to your business. Bodily injury, for instance, may be caused by a carpenter working at heights accidentally dropping a harmer that unfortunately hits a third party. 

In addition to this, property damage may be caused in similar instances by a hammer accidentally falling and damaging flooring. Contractors Insurance will, in that case, cover the financial cost of replacing such items to the client.

 

Is there more to Contractors Insurance?

Contractors insurance is crucial for all contractors on the construction site. Insurance coverage provides financial security against risk, the fulfillment of legal requirements, and peace of mind of both your client and you.

If you get your insurance coverage from Contractors Liability you will benefit from a customer satisfaction guarantee. Our insurance team at Contractors Liability is ready to answer all your questions. Call now (866) 225-1950

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