Research suggests that the majority of the business is the prime target of civil lawsuits! The liability claims are more common for a contractor business due to the serious risks and injuries involved in this business. Thankfully, there are some responsible business person who opts for general contractors’ liability insurance to cover risks like customer injury, customer property damage, and advertising injury.
Here are the reasons contractors shouldn’t start a project without general contractor liability insurance:
Protects against expensive lawsuits- The availability of liability insurance can protect contractors from the high cost of lawsuits and helps them easily qualify for leases and contracts.
Provide coverage against several risks- These risks include property damage that could burden your business with the severity of the liability claims. Fortunately, contractor liability insurance and general progressive insurance in Lancaster give you adequate coverage against these risks. For instance, insurance can cover you against liability if you or your staff causes damage to the third-party property or the building/property that you’re at present working on.
Cover against bodily injury- If you or your staff causes injury or death (accidental) to the third party during the project, the general contractor liability insurance can cover you with medical and legal expenses.
Keep the contractor’s business financially stable- A general liability insurance policy is important as it keeps the contractor’s business financially stable against all odds. The coverage of this policy can prove to be valuable when the contractor’s business gets sued by a third party, customer, or competitor.
To safeguard the business from facing general liability claims, a contractor must opt for a general liability insurance policy for contractors. Contact us now!