The job of a contractor is not easy. They face tons of physical hazards on a daily basis. Having affordable contractors liability insurance is extremely important. Whether you are a general contractor, roofer, plumber or electrician, you will benefit from this type of insurance.

Commercial general liability insurance

While working on a specific task, you might have hurt a third party and you could be held liable for it. This insurance will cover the cost for that. For instance, while fixing the plumbing system, the owner of the house suddenly steps on one of the tools and falls. In this case, a claim could be made. Since it happened under your watch and because of your tools, you could be blamed. This insurance will cover the cost, so you won’t worry anymore.

Commercial property insurance 

The equipment and other tools you need for working on certain tasks could end up getting broken or damaged due to the nature of the job. This insurance will cover the cost. This usually includes hand tools and materials. In some cases, you may include more expensive equipment like generators and welding equipment.

Worker’s compensation insurance

If you own a business where you deploy contractors, you need to get this type of insurance. Since the job is really hazardous, it is possible that one of your employees could get hurt on site. With the help of this insurance, any injury that takes place while working will be covered. The employee does not have to worry about the medical expenses anymore.

Installation coverage

Even if you or your other employees accidentally break or damage parts of the property while working on it, this insurance will cover the cost. For instance, while remodeling the bathroom on the upper floor, one of the employees drops a heavy object and it causes the bathtub to break. This is really expensive, and you can’t afford to shell out the payment from your own pocket. This type of insurance will be of great help.

Employment practices insurance

You need this especially if you have a lot of employees working for you. They might have various issues as employees. They could file a case for negligence because of harassment and discrimination at work that was left unresolved. They might also file a case for wrongful termination. This is really common in any business and this could be really expensive. Therefore, getting this insurance in advance will cover the cost of any claim made by an employee. If you intend to fight in court, this insurance could also pay the legal fees.  

There are different types of liability insurance for contractors. Getting it is necessary. You can never anticipate what will happen while you or your employees are working. It is better to be safe than sorry.