In this article, let’s talk you through some top Liability Insurance advice for contractors. In the construction industry, risk mitigation takes many forms. You protect your business by sticking to recommended safety guidelines on construction sites. You protect your reputation by following codes and procedures.
All the same, the risk of accidents still remains. You need to pass on this risk to a third party so you can go about your business with confidence. Passing on risk means getting an insurance company to have your back in case of accidents or loses.
What Liability Insurance Advice For Contractors Can We Give You?
Here are our top 3 liability insurance advice for contractors that will protect your construction business from losses and damaging claims.
Safety and reputation can keep your premiums low
As a contractor, you understand the value of keeping a safe construction site. In America, 1 in 4 workplace accidents happen on construction sites. Repeatedly emphasize to your employees the importance of observing safety protocols. If you minimize accidents because your site is safe, you make fewer claims and grow a better reputation. This can mean lower premiums for you.
Know what is covered
A Liability Insurance cover will only compensate you for claims made against you by your client or third parties. If you cause damage to your client’s property during a construction job, your insurance will compensate your client on your behalf.
If you or your employee cause damage to third party property or injury to a person while on the construction site, your insurance will also compensate them on your behalf. Without Liability Insurance, you will be forced to pay out of your own pocket.
Liability Insurance will give coverage for:
- Third party claims to bodily injury
- Property damage
- Harm to reputation
- Advertising mistakes
- Medical payments
- Premises rented by you in the course of the construction
Additional insurance coverage
There are circumstances of loss or injury that are not covered by your General Liability insurance. You need to be aware of these:
- If damage is done to the structure or materials during construction, General Liability does not compensate. For this you need a Builder’s Risk insurance cover.
- If your employee is involved in a collision in a work vehicle, or causes damage to your vehicle or other property, General Liability does not compensate. For this, you need a Commercial Auto insurance cover.
- If your employee gets injured on the construction site and needs medical attention, General Liability does not compensate. For this you need a Workers Compensation cover.
Choose a reputable and reliable liability provider
Farmer Brown Insurance has the knowledge, expertise, experience and market reach to get you the best cover at the lowest cost. Our A+ rating is a testament to outstanding customer service. We will give you the best Liability Insurance advice for contractors. A free no obligation quote in under one hour, and a certificate of insurance in four hours or less. Call Farmer Brown Insurance today on (888) 973-0016.