Liability Insurance for General ContractorsMany types of losses can occur at construction sites, such as injuries and property damage. To safeguard against these scenarios, states require contractors to purchase general liability insurance. If you are a contractor, having general liability insurance can protect you from financial ruin in the event of negligence or acts of omission.

No matter how careful you are, things happen that you cannot control. For this reason, contractors need to purchase general liability insurance. The insurance typically protects the assets of the construction site against lawsuits stemming from damage to property, equipment failure, theft, fires and explosions, and contractual liabilities. Before purchasing general liability insurance, make sure you fully understand the exact coverage offered. Coverage will vary from policy to policy

When you’re shopping for contractors insurance quotes and rates, it’s important to understand the types of coverage available, and which types of insurance will best serve you and the needs of your business. Government requirements for contractors insurance often vary from state to state, so all contractors should familiarize themselves with their state’s insurance minimums before shopping for a policy. It’s also a good idea to learn about the minimum requirements for any other states in which you may be working, which can prevent the need for last-minute policy adjustments, and may potentially streamline the bidding process. The three major areas that you need to concern yourself with when it comes to insurance for contractors are general liability, workers comp and commercial auto. Before purchasing general liability insurance, make sure you fully understand the exact coverage offered. Coverage will vary from policy to policy. Contact the Dorian Agency for more information.