Contractor’s General Liability Insurance

Every industry faces its own set of risks, but for contractors, the stakes can be particularly high. A single mishap could result in financial liabilities that your business may struggle to bear. That’s why having adequate general liability insurance tailored to your level of exposure is essential. Moreover, many clients require contractors to have general liability coverage before they can undertake any work.

While most businesses opt for general liability insurance as part of a comprehensive business owner’s policy (BOP), contractors may find that they don’t require or desire all the coverage typically bundled in a BOP. In such cases, opting for standalone contractor’s general liability insurance can offer more tailored coverage at potentially more favorable rates.

Contractors stand to gain several advantages from having general liability insurance:

Asset Protection:

In the event of a lawsuit involving injury, property damage, or bodily harm, having sufficient general liability coverage can shield your business assets from seizure to satisfy judgments.

Business Continuity:

General liability insurance can cover legal expenses and settlements up to the policy limits, helping your business weather the storm and continue operating even if faced with adverse judgments.

Employee Security:

This coverage not only safeguards your company against claims but also extends protection to your individual employees.

Determining the Cost of Contractor’s General Liability Insurance

Several factors influence the premiums contractors pay for general liability insurance, including the coverage amount, the business’s location, and its claims history. For expert guidance on finding the right general liability coverage at competitive rates, reach out to Alonge Family Insurance. Our local agents are ready to assist you in securing the optimal protection for your contracting business.