CSIS Insurance Services, Inc. Blog
Construction businesses are not without risks and accidents. Most work-related accidents could be found on construction sites. As a construction company, you should cover expenses that may arise from these unexpected circumstances. You should be financially ready for such unfortunate events to happen; that is why you should consider getting contractors' insurance.
What is Contractor Insurance?
It is an umbrella term for several insurance policies that provide contractors coverage for liabilities, property damage, or accidents that may arise in a workplace or worksite. Besides, the main reason it is called "Contractor Insurance" is that this program's risks usually happen in construction businesses instead of other industries like hospitality or food industries.
Below are some of the most common policies included in a Contractor Insurance:
What is General Liability Insurance?
General liability insurance is the most important of the four policies mentioned above. It covers legal expenses if you are sued for negligence from work-related incidents that cause bodily injury to someone or when a property has been damaged. This is mandatory in most states. It is considered the cornerstone policy of every contractor's insurance coverage.
It generally protects your business if there has been an incident on-site that resulted in you or your employee getting injured. It allows you to settle the medical expenses of the injured third party. It will also assist you in paying legal fees if the injured party sues you.
Also, general liability insurance covers property damage, reputational harm, even in advertising if your advertisement infringes on others' copyrights.
Why Should You Buy a Contractor Policy Instead of Individual Policy?
The short answer is: it is relatively cheap. Buying individual policies for each worker or employee could cost you a lot. You should choose the right insurance that is proper for your particular business or business needs. Why would you pay for coverage you don't need? A good contractor policy could cover all your business needs without shelling more bucks than you should have. Buying policies in a bundle is generally cheaper than buying them separately.
At CSIS Insurance Services, Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (888) 501-2747. Get your free quote today by CLICKING HERE.
California License Number: 0D80851
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