Web Analytics Made Easy - Statcounter
Skip to main content

General contractor liability insurance is a necessary part of protecting a business from the ravages brought on by work related incidents. Such coverage meets the needs of accident and contractual liability, materials and products used during construction projects, and injuries sustained by employees of the company. It also provides peace of mind against devastating lawsuits that might arise due to company liability issues covering property damage and other types of injuries.GENERAL CONTRACTOR

If you are the owner of a construction company, you should acquire adequate general contractor liability insurance so that your interests are protected. There are several options of general contractor liability insurance available depending on the type and extent of your business. Let’s look at those options and what is covered.

Bodily Injury

Aside from standard medical expenses, this part of most liability insurance plans can also help cover losses resulting from these injuries and court appointed compensations for injuries to a third party are also covered.

Property Damage

Any damage caused, either directly or indirectly, by your company to a client’s or third party’s property is covered. This includes any accidents that may happen while transporting materials, equipment, and or tools to a job site.

Medical Payments

This portion of a policy covers minor medical expenses that are not allowable for full liability lawsuits. Making sure you have coverage in the event of any major medical expenses is critical for any business. Medical expenses can quickly add up and the prices can be astronomical at times and cripple a business, permanently.

Personal and Injury Advertising

If libel, slander, or slogan infringement occurs during advertising or other business processes, this section will cover your company.

Products and Completed Projects

This clause covers defective materials and or recalled products that have been used in a construction project which could lead to lawsuits. This will cover any projects and products completed since the policy was started, not ones completed prior to the start of the policy.

Premises Liability or Fire Legal Liability

If you rent or lease any properties for your business, this will help cover the costs, to a set amount, on the damage done by fire. This generally helps to cover any gaps in the policy that may not cover this type of event and can be the difference maker between bouncing back quickly after a fire or, closing up shop for good.