No. Liability covers the others and their property.
Your homeowners insurance does not provide coverage for hired workers. It is advisable that you ensure your contractor's doing the remodeling job for you have liability insurance in the event they damage your property or someone else's and appropriate medical coverage or workman's compensation for their workers.
Renter's insurance is a cover taken out by the owner of a property they are renting out. The benefits are to provide liability insurance and insurance for the tenant's personal property for damage from fire, theft and Vandalism.
No, there is no legal requirement at the time of this answer. There is however a requirement for registration with the state of Texas. Having General Liability Insurance though is the first sign that you are hiring a responsible and perhaps reputable Contractor.
No. You can't claim poor workmanship on any kind of insurance, even the contractor's liability insurance. Poor workmanship is remedied by having the contractor come back out and re-do what was messed up in the first place. A contractors work product is specifically excluded from insurance if you read the exclusions.
General liability covers Public and Producs Liability, therefore by having General Liability cover, public liability is covered also.
Public liability insurance can help event planners protect themselves from cancellation and postponement. By having the right public liability insurance you can protect yourself from losing profits.
It is not a requirement but having a good professional liability insurance policy in place will give you more credibility in your industry. If you are an accountant in the employ of another then you should not have a need for a professional liability policy. If you work as a self employed or a contractor you should carry coverage. Many companies will require you show them your insurance before they will grant you contract work.
The contractor should make a claim upon the sub-contractors insurance and/or bond. If the sub-contractor defrauded the contractor on having insurance and/or bonding in place then he should report the contractor to the State licensing board, file claim on their insurance, and civil lawsuit (if the insurance company does not directly file or pay).
In many cases when you enter into a contract, whether it is a contract for work, a lease agreement or any other type of contract, there will be clauses covering insurance and indemnification, which is a fancy word for covering someone else's financial loss. Liability insurance provides money to cover losses to others due to negligence on the part of the insured. In this case, the insurance company is indemnifying the insured. If there is an indemnification clause in the contract then the contractor must indemnify the contractee as specified. This is most usually done by adding the contractee as either an additional insured (in the case of liability insurance) or as a loss payee (in the case of property insurance) to their existing policy. If the person entering the contract does not have insurance or does not have sufficient insurance, then those policies can usually be purchased. However, having the insurance or having the contractee named on your policy does not alleviate the indemnification.
If your referring to your homeowners or property liability insurance, No. Hired workers are not covered under your home insurance policy. Contractors are expected to provide the necessary coverage for the risks involved with their chosen profession. Most people are wise enough to select a contractor who can demonstrate they are competent in their field. Having adequate insurance to cover the activities of their workers as well as any potential damages to your property are just one sign of competency that consumers look for.
There is no legal requirement for a contractor to be insured as of yet. However, It would likely be very difficult to get any work or contracts if your not insured. Although the state does not require you be insured, your customers most likely will require it. Having General Liability Insurance though is the first sign that you are hiring a responsible and perhaps reputable Contractor. Most GC's and clients will require that you provide proof of financial responsibility or "insurance" before they will give you the job. You show up with a bid and no insurance, they might consider that you are not a serious contractor and you're wasting their time.