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✔️ General Contractor License Requirements by State
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✔️ General Contractor Liability Insurance Necessary Coverages
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✔️ Does General Liability Insurance Cover Your Work
General Contractors & Construction Firms
Running a construction business always comes with the possibility of mishaps on the job site that could cause trouble for you financially and legally. General Contractor Liability Insurance is designed to safeguard you from accidents and incidents like property damage or injuries that may occur during project execution. In the event of a client getting hurt or property being damaged due to your work activities on site. This insurance coverage can help cover any resulting expenses. Without this safety net in place, you would be left footing the bill, which could have a significant impact, on your financial stability.
What's Covered Under General Contractor Liability Insurance
This type of insurance is a must because it covers the major risks contractors face daily:
- Property Damage: If your crew accidentally damages a client’s property, this will help cover repair costs.
- Bodily Injury: If someone gets injured at the job site, like a worker or a passerby, your policy can cover medical bills and other costs.
- Legal Expenses: If you’re sued due to an accident or damage, your insurance can help cover attorney fees and court costs.
Other Insurance for General Contractors
- Tools Coverage: Protects your equipment from theft or damage.
- Auto Insurance: Covers vehicles used for business purposes.
- Surety Bond: Guarantees that work will be completed to the client’s satisfaction.
- Workers' Comp: Required in most states, this covers your employees in case of injury.
- Excess Liability: Offers extra protection when your general liability limits are exhausted.
Is General Contractor Liability Insurance Required
It's quite common for General Contractor Liability Insurance to be a requirement set by state or local authorities based on your operational location. Certain states insist that contractors have this insurance in place as a prerequisite for obtaining a license. Moreover; numerous clients and project owners tend to favor contractors who are covered by this type of insurance policy.
How to Get General Contractor Liability Insurance
Looking for a trusted provider to get your General Contractor Liability Insurance? USA Insurance, based in Burbank, CA, has almost two decades of experience in commercial insurance. Our agents are all U.S.-based and licensed to serve all 50 states, meaning you get expert advice wherever your business operates. With USA Insurance, you'll get competitive rates and policies tailored to your unique needs. We make it simple to get insured and keep your business protected.