The costs of a lawsuit can be extremely high. Without proper coverage you would be liable for damages from your own pocket. Very few businesses can withstand these types of cost. With Contractors Liability Insurance coverage, you will be assisted by your insurance. Your assets are protected and the future of your business is not threatened. In most states this insurance is required in order to register as a contractor.
Contractors Liability Insurance is a type of coverage that Farmer Brown specializes in. This insurance will protect the future of your business. Contractor Liability Insurance is liability coverage. It covers you in the event that someone sues you for causing them bodily injury and/or property damage.
What does Contractors Liability protect you from?
This insurance coverage protects you from liability claims for advertising mistakes, bodily injury, medical payments, damage to property, and damage to reputation. This means the following:
- Advertising mistakes. You can be sued for mistakes that you have made in your advertising. Examples could be an advert that looks too similar to a competitor, or using a brand logo when you don’t have permission.
- Bodily injury. You could face a claim that something your company has done (or failed to do) has resulted in a physical injury. This could be a forklift knocking someone over in the car park, or failing to cover a hole resulting in a fall.
- Medical Payments. If someone sustains a small injury at your place of work it may not result in a lawsuit. They could however need some medical care, and this insurance will assist with this.
- Damage to property. You could be sued for damaging the property of a third party in the course of your work. For example your supplier is delivering bricks to the site and the driver flattens the perimeter wall of the neighboring property.
- Damage to Reputation. This covers you if you are sued for libel or slander.
What costs are covered?
Contractors Liability insurance will assist with the cost of your legal defense in the event that you are sued. This includes your legal fees as well as costs of evidence and witness fees. It also assists with paying settlement costs. All Farmer Brown Insurance packages also assist with general damages, compensatory damages and punitive damages.
Exclusions – Are there any?
Liability claims not covered by this insurance include:
- Injuries to your own employees are not covered by your Contractors Liability policy. The coverage that you need for this is Workers Compensation. It assists with any loss of wages as well as the medical care required for your employee.
- Professional liability is also not included. If a client believes you made a mistake in the service you provided, resulting in a loss, they could lay a claim for professional liability. Errors Or Omissions Insurance covers these claims.
Contractors Liability Insurance is quick to arrange
All it takes is a quick phone call. Our agents are professional experts. We will tailor a solution for your needs. Call Farmer Brown Insurance on (888) 973-0016.