There are many contractors who work at the given sites. While working they are exposed to lot of risks which are associated with their work. General liability insurance covers third party claims that are made against the contractor during the course of operations. It protects the contractor from contractual liability, law suits and accidents, that may result from contracted work and help contractors to save charges paid to the lawyers, employed during the course of litigation. The insurance company has its own lawyers to do the legal battle and to win the case. Hence, a general contractor needs to purchase general contractor liability insurance that provides protection against claims regarding the property damage, personal injury or negligence.
It is also important to them in such situations where contractors are not allowed to work without having a general liability insurance cover.
Highway,Street and Road, Water/Sewer/Pipeline/Common/Power, Plumbing/Heating and AC, Painting and Paperhanging, Electrical, Masonry/Stone work, Plastering/drywall/acoustical ceiling, Terrazzo/tile/marble/mosaic, Carpentry, Floor Layer NOC, Water well drilling, Excavation and Residential Home builders are the typical types contractors who needs the general liability insurance policy. .
General liability insurance also provides coverage for claims arose due to property damages and bodily injury after the completion of the project also. A general contractor is not responsible for the mistakes done by a subcontractor. Hence, it is better to hire a sub contractor having general liability insurance. General contractors who appoint subcontractors having general liability coverage, will be required to pay a lower premium on their insurance policy. General liability insurance also provides coverage for claims caused due to personal and advertising injury. The Owners and Contractors Protective (OCP), policy which provides coverage to subcontractors, is included in the general liability policy of the contractor.
The coverage required for a contractor largely depends on the level of risk, the nature of work, the payroll expenses. So a contractor has to take the policy which suits him the best, based on the above conditions.
It is also important to them in such situations where contractors are not allowed to work without having a general liability insurance cover.
Highway,Street and Road, Water/Sewer/Pipeline/Common/Power, Plumbing/Heating and AC, Painting and Paperhanging, Electrical, Masonry/Stone work, Plastering/drywall/acoustical ceiling, Terrazzo/tile/marble/mosaic, Carpentry, Floor Layer NOC, Water well drilling, Excavation and Residential Home builders are the typical types contractors who needs the general liability insurance policy. .
General liability insurance also provides coverage for claims arose due to property damages and bodily injury after the completion of the project also. A general contractor is not responsible for the mistakes done by a subcontractor. Hence, it is better to hire a sub contractor having general liability insurance. General contractors who appoint subcontractors having general liability coverage, will be required to pay a lower premium on their insurance policy. General liability insurance also provides coverage for claims caused due to personal and advertising injury. The Owners and Contractors Protective (OCP), policy which provides coverage to subcontractors, is included in the general liability policy of the contractor.
The coverage required for a contractor largely depends on the level of risk, the nature of work, the payroll expenses. So a contractor has to take the policy which suits him the best, based on the above conditions.
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