Contractors Insurance for Protection Against Inherent Risks on the Job

April 26, 2013      

Contractors insurance is specialized insurance coverage for home contractors because of the risks involved in the job. Contractors insurance protects against liability from injury, property damage or damage or injury to a third party, all of which the contractor can be found liable. Contractors insurance also protects against claims for injury or damage caused by the contractor or employees of the contractors.

As a home contractor, the job and the job site is prone to hazards, accidents or injuries opening up the potential for claims or loss. Contractor insurance covers medical, legal and compensation fees and costs. In the event that there is injury or damage to a third party, independent contractors insurance also covers this risk.

Negligence, property damage or personal injury of contractors is covered under general liability insurance. General liability insurance will protect you against a lawsuit or cover your loss. Employers are held liable for an employee's or sub contractor’s accident.  Insurance covers compensation for loss of wages and medical expenses.

Claims can also be made by clients who believe they have suffered financial loss as a result of your negligence. With the right insurance policy, you are protected here as well even in the case of litigation.

For more information, or for a review of your independent contractors insurance policy, contact TriState Business Insurance.

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