Who Needs General Liability Insurance?
As a contractor or business owner, you need some form of general liability insurance to protect your business. A single accident could result in a lawsuit that you might not be able to handle. A great way to protect against this type of situation is to make sure you carry enough General Liability Insurance. Some employers might also require you to carry a certain amount of General Liability Insurance before you can work for them.
General Liability Insurance for Contractors
If you’re a contractor, we understand you might only need General Liability Insurance - not a Business Owners Policy. For example, you might not own any commercial buildings that require property insurance, or need to cover payroll or other operating expenses. However, you’re still exposed to liability risks in your job. You might be eligible to get General Liability Insurance, without the extra coverages in a Business Owners Policy.
General Liability Insurance in a Business Owners Policy (BOP)
General Liability Insurance, along with other various protections, are available in Business Owners Policies written at ConstructionInsurance.com. If you need to protect things like personal property, or commercial buildings such as garages or storage facilities, you might require the additional protections provided in a Business Owners Policy.
General Liability Insurance Cost
General Liability Insurance is surprisingly affordable, but there are exceptions. Businesses with a greater risk of causing personal injury or property damage will pay more. For example, contractors or landscaping companies will pay on the higher end. Businesses with little risk, such as retail shops, will pay less.
How Much General Liability Insurance Coverage Do You Need?
Risk is the single biggest factor in determining how much coverage you need. No one anticipates accidents or mistakes. But, some companies are just more prone to them due to the nature of the business. For example, a roofing company has a far greater chance of an accident than a clothing store. ConstructionInsurance.com takes all these factors under consideration and provides you with the right amount of coverage specific to your business.