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Just imagine a scenario where you hire a licensed contractor to perform certain repair work in your kitchen or the condo association calls a contractor for some renovation work in the building you stay in. It is quite agreeable that nine out of ten such contractors job would smoothly finish without any complication but imagine one such unfortunate case where one of the contractor’s employee falls from a height and gets injured or encounters an accident on site and that employee sues you in place of the contractor or the condo association; how would you plan out of such daunting situation. All such hypothetical conditions ascertain the importance of only hiring the general contractors who have active general contractors insurance. This is important for the contractors and you as well to avoid such complicated lawsuits. It is recommended by experts that every contractor must have the general contractors insurance to protect themselves, their workers and their valued clients against any lawsuits. In addition to general liability insurance, contractor may also have worker’s compensation insurance to protect the employees and other assets of their business. It is compulsory for contractors to have the appropriate license and coverage in order to take up any project but the condo association or you as a home owner must also check and ensure that the contractor you hire and the employees are adequately covered. The general contractors insurance may typically cover following two types of liabilities: Bodily Injury: this type of coverage provides coverage against any physical damage to you, contractor, employee or any person on site. The insurance company would pay the medical expenses, wage losses and other financial loss due to the injury according to the terms mentioned in the policy document. Property damage: During the course of the project, if any damage or loss of the property occurs, this type of insurance covers the loss. This may also include damage or loss of working tools, equipments and other machinery. Subcontractor Involvement For many of the expanded repair or renovation job, you or your contractor may also need a specialized subcontractor to complete specific part of the project, for example while renovating your kitchen you may need a subcontractor to perform plumbing jobs. It is again very important to check whether the subcontractor is also covered with appropriate insurance plan. Ensure that he has the policy with his correct name and that the policy is active and is in force at least for the next six months or the expected period of completion of the project. Because of the above explained reasons and situations, general contractors insurance must be the first and most important criteria to select a general contractor other than license for any new construction, repair or renovation project for safety and coverage of everyone. Contractors Liability offers General contractors insurance plans that have been especially designed to meet the requirements of insurance lovers. Visit to our website for more detail http://www.contractorsliability.com/
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