Contractors Liability Insurance: Keeping it safe on the jobsite

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Written by Linda Hohnholz

The hazards of being a contractor are unique and often dangerous. Every day, contractors face special dangers on the job that can’t be said about any other profession or industry. From working with chemicals to heavy machinery, these challenges make for an exciting but challenging career path.

It is also well known that reckless workers won’t last long in a construction business. Accidents ‌happen, especially on projects that involve the use of heavy machinery and construction equipment. Without contractor’s insurance, the expenses that will come as compensation, repair, or settlement will come out of the owner’s pocket.

The type of business, as well as its size and location, influence the coverage and insurance policy a contractor needs. A well-established recruiting business is valuable and profitable but a contractors’ insurance is essential for contractors to operate at their best without worrying about any accident or issue that may affect the business.

Here is where Contractors Liability comes to ensure every construction business is well protected from accidents and loss of income that may imply legal bills or other expenses due to claims in case anything goes wrong at the job site.

As one of the most distinguished brokers on the US market, they will find a solution to every distinct needs, including Builder’s Risk Insurance, General Liability Insurance, Workers’ Compensation, Commercial Auto, Umbrella, among others, for every kind of general contractor or business owner.

Under Shopper Approved, one of the leading online review platforms in the world, they have an excellent reputation among the clients, based on over a thousand reviews of which less than 1% have poor or bad customer experience. That makes Contractors Liability a company to be trusted by any small or big business. They have been in the industry for over 25 years with an “A+” rating with BBB, an accreditation institute that provides the public with information about companies with the best practices and high-quality standards.

Between the services that Contractors Liability offers, they have:

Professional Liability Insurance

Protects the contractor or business owner if he gets sued for any negligent action or error while carrying out activities related with developing professional practices.

Commercial Auto Insurance

Commercial auto insurance is a policy that provides coverage for physical and liability damage caused by a corporate vehicle while it’s on the company’s or organization’s behalf.

Umbrella Insurance

An ” Umbrella” or excess layer of protection covers situations where the limits on underlying liability are reached and additional types claims such as libel/slander which may arise from events beyond one’s control .

Workers Compensation

Workers’ Compensation Insurance ensures that employees who get injured on the job have fixed monetary awards. It also helps control financial risks to employers, as many states limit the amount an injured employee can recover from an employer.

Permit and License Bonds

Guarantees that persons who have been granted a license or permit operating a business or exercise a privilege will comply with the obligations of that license or permit.

Inland Marine Insurance

This type of policy covers risk exposures involving goods and merchandise that are in motion or temporarily stored by a 3rd party. Valuable goods, tools and equipment are part of tasks and daily routine for every contractor and that is why it should be very welcome protection in case of damage, theft or any accident by performing a certain job. It will cover all aforementioned in this situation. 

The property (goods) covered by this insurance are normally in the following conditions:

  1. In transit
  2. On deposit
  3. In a fixed place
  4. A type of moving merchandise that is usually found in different locations

How to get properly insured

The construction activity is considered as a high-risk scenario, because of the potential damages or losses caused during the development or execution of building construction works, deficiencies in the construction process evidenced in its useful life, or lack of maintenance of the same.

Searching out a policy directly from the insurer or through a simple website, will end in receiving an offer from a seller (very biased, without enough knowledge, with the sole intention of selling, not helping) and in the event of an incident, they will no longer be there to assist and the insurer, that would have to face a court all by himself without the proper advice.

Qualified General Contractors must choose an insurance broker that has been in the market for several years as ContractorsLiability.com, thanks to the experience gained advising and helping hundreds of clients in the incidents they had, allows them to prioritize attention to detail and be ready to take claims 24/7.

About the author

Avatar of Linda Hohnholz

Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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