General Contractor Liability Insurance

What is a General Contractor Liability Insurance?

General Contractor Liability Insurance

Asking contractors to complete work on your worksite does not have to be scary as long as you are using general contractor liability insurance. This is a policy in which you will allow the contractors to be able to pay in to the policy. They will be able to take advantage of the ability to pay for a policy which will protect you from anything that they will do wrong. This kind of insurance is easy to obtain and can be used to get even a whole year of coverage form a policy.

Protecting the Worksite and Other Employees

The reason why this kind of a policy is such a good idea is because it will allow all of your employees to get the protection that they will need while on the site. While accidents might not be avoided at times, they can be corrected with medical treatment and more. The reason why it is a good idea to have the liability insurance in place is because it will allow protection for the employees as well as for the company. You will not have to pay anything whenever there is an accident which occurs. Rather the insurance policy will pay.

Meeting the Requirements

There are a few things that you will need to have in order to meet the requirements of the insurance company. Those being protected will need to be at least 18. They will also need to have the right education and licensing to even be on the site in the first place. Tax returns, citizenship and attendance are also required in order to be able to get this kind of a policy. The important thing is to make sure that you are as honest as possible as anything which is falsified or incorrect might terms to terminate your insurance policy.

The amount that you make as well as the kind of work that you will do will help to determine what you will pay in order to get the kind of policy that you will need to have. Paying the least amount will help you to be able to get even more from the insurance that you are using for your contractors. Of course, paying anything less than the liability will mean that there will be no insurance at all. Additionally, keep in mind this does not protect the contractor if something happens to them.