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Contractor's general liability insurance is, essentially, "malpractice" insurance for general contractors. That is, it provides indemnity for a party who has sustained compensable injuries for the negligent act or omission of a general contractor.
Like other liability insurance, this type provides a defense to the insured when liability (fault) is contested. That is, part of the insuring agreement provides that the insurer will hire and pay an attorney to defend the insured, investigate the claim, and pay related costs. Generally, these attorney fees and costs are paid in addition to the indemnity benefit. However, some policies provide that they reduce available indemnity benefits,
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As an independent sub-contractor are you required to get professional liability insurance?
This depends on a number of things. It's hard to say without knowing what kind of work you are sub-contracting. First determine if you need Professional Liability coverage Or Commercial Liability Coverage. They are very different products. Most General Contractors do require the subs to carry insurance. Otherwise the General Contractor will have to pay much more for insurance coverage that effectively covers his or her own activities as well as those of the sub-contractors. If the General Contractor you are doing work for already has coverage for his subs under their insurance (usually not). What is the nature of your agreement with the General Contractor. Some Contractors insurance policies cover subs while others do not.
What sort of insurance does one need for a sole-proprietor masonry business?
Commercial General Liability Insurance, otherwise known as CGL provides the coverage required for contractors in the construction trades
What type of insurance is needed for floor cleaning business?
Commercial General Liability Insurance.
What sort of liability insurance does one need for a sole-proprietor HVAC Repair business?
(CGL) Commercial General LiabilityThe type of insurance you need is called "Commercial General Liability" also sometimes referred to as "Contractors Liability Insurance" As an Sole Proprietor providing a repair service you are considered to be engaged in a commercial activity. This type of repair usually comes as a service or repair contract, hence the contractor referenceGood luckAnswerA local Insurance Broker is the best way to find business insurance. They are not a captive agent like Farmers, State Farm and Allstate. They have the ability to shop the market to get you the best rate.
What kind of insurance do you need for a housekeeping business?
General liability.(contractor's)
What are the main rules used by contractors general liability insurance?
Contractors general liability insurance is based on one of two things, total receipts or payroll and cost of subcontractors. Contractors general liability insurance covers a company if their employees get hurt on the job or cause damage to a property while working.
Are defense expenses paid in a contractors professional liability policy?
A Professional liability insurance Policy, as well as a contractors General Liability Insurance policy will provide coverage for the cost of legal defense.
What is the Liability of homeowner acting as General contractor?
Homeowners insurance does not have liability coverage for your job occupation. You can obtain contractors insurance for liability coverage.
General contractors general liability class code?
Insurance class code 41620
What does comprehensive general liability insurance cover?
Comprehensive general liability insurance covers businesses against many liability exposures of a business. Comprehensive general liability insurance coverage includes completed operations, elevators, independent contractors, and more.
Is liability insurance the only insurance available for contractors?
The answer to this question is no. There are lots of liability insurance available for contractors. It is depends on what kind of insurance the contractors wants to purchase.
Where can one get liability insurance for contractors?
There are a few insurance companies out there that provide liability insurance to contractors and small businesses. Among them are Progressive, UCI Agency, Geico and Veracity Insurance.
Where can one find a contractor for general liability insurance in Mobile Alabama?
Yellowpages is a great resource to find a contractor for general liability insurance in Mobile, Alabama. The website contains contact information for multiple contractors.
What kind of insurance do you need for a demolition business?
Most clients demand that demolition contractors have commercial general liability insurance before they hire them. Demolition insurance coverages are designed to meet the specific demands of the demolition industry. Contractors face a variety of potential risks, so it's critical to have the correct insurance coverage in place.
What kind of insurance do general contractors need to have?
General contracts must carry at a minimum liability insurance along with being bonded by the state. Liability insurance should be no less than $1 million and could be much higher depending on the job.
Is there a professional liability insurance for a Residential contractor in SC?
What your looking for is Commercial General Liability Insurance for contractors, not professional liability insurance.And Yes. Almost any Commercial lines carrier will provide CGL coverage as well..
Can a homeowner file a claim with the contractors insurance company?
Yes, That's why you always make sure your contractors are insured before you hire them. The contractor should always carry General liability insurance to cover the cost of accidental damage to a property they perform work on. Most General Liability Insurance policies will also have coverage for completed products and operations as well.
