An additional insured has less protection than the policyholder, but still gains crucial coverage, such as:Defense coverage. General liability coverage protects businesses against common business risks like customer injury, property damage, and advertising injury claims.
With so much fluctuation, damages easily occur to both the ongoing work and surrounding properties. The Allen Thomas Group Contractor Insurance .
General contractors have unique risks.
These policies often combine coverages such as commercial auto, workers compensation and business owners policies into one package.
It offers contractors peace of mind by extending their liability coverage and ensuring they are adequately protected in case of large claims or lawsuits. This ensures that they have adequate coverage in the event of a claim, as exceeding the policy limits could leave them personally liable for any additional costs. This is covered by general liability insurance, an essential part of a contractors insurance policy. Call (440) 826-3676 for a free contractor insurance quote today. From custom policies designed specifically to fit individual responsibilities and exposures to policies tailored for public or non-profit institutions and financial institutions.
This major expense comes on top of work delays, decreased productivity and legal fees.
A commercial auto policy provides protection for vehicles used for work or to transport tools and other contractor materials. Here are three key aspects that contractors should consider when dealing with legal claims and litigation:1.
It covers the cost of repairs or replacement of damaged property, as well as any legal fees associated with a liability claim.2.
General liability insurance: This coverage protects contractors against property damage caused by their actions or negligence.
With a general liability insurance policy, those expenses are covered.
Our specialized construction underwriters have deep industry knowledge and an ability to provide flexible, innovative solutions. Building a proper insurance plan is an investment in your company's future.
Call our licensed agent and they can assist with commercial auto and business insurance quotes. If an employee is hurt while working, insurance covers their medical treatment, partial income replacement and rehabilitation services. Each job site brings potential for injuries, property damage, and costly lawsuits.
Contractor liability insurance coverage helps mitigate these risks by providing financial protection and legal representation in case of accidents or injuries that occur during the course of their work. Just one incident can devastate your business if you're not properly insured.
This is where Surety Bonds come in - providing a guarantee you will meet all contractual obligations. The coverages in contractors insurance can vary from business to business.
Being accused of negligence by an injured worker can also quickly generate a draining lawsuit. Insurance doesn't have to be complicated!
In most cases, independent and self-employed contractors aren’t required to carry workers’ compensation insurance.
Construction claims are complex and potentially volatile. Pollution liability
When you insure your business with The Allen Thomas Group, you get loss control tools and a team who can review your operations, procedures and programs.
Liability insurance provides coverage against damage claims caused by contractors when performing work on your property and injury claims that may arise should someone get injured while performing duty. It also covers court judgments or medical or funeral expenses should someone become seriously ill while on duty.
For effective risk management of construction projects, it is necessary to understand all four types of risks inherent within it - these could include financial, contractual, operational and environmental threats that come from both internal and external sources.
That means the general contractor must establish his or her own risk mitigation process that works closely with the construction project manager, conducting risk identification and analysis throughout the duration of the project, while creating a comprehensive risk management plan.
General, professional and employer liabilities are the three major forms of liability protection available today.
Task and Schedule Tracking Doing this not only aids construction risk management but also allows teams to make better decisions regarding how best to complete certain parts of a project, especially when they fall behind schedule. What's more is these tools help increase accountability.
Professional liability insurance provides coverage for professionals and businesses to protect them against claims of negligence by clients or customers. Policies generally cover negligence, copyright infringement, personal injury claims and more.