Liability Insurance

What kind of insurance do general contractors need to have?


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2010-04-09 01:19:46
2010-04-09 01:19:46

General contracts must carry at a minimum liability insurance along with being bonded by the state. Liability insurance should be no less than $1 million and could be much higher depending on the job.

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Construction Contractors typically purchase Commercial General Liability Insurance. Other considerations may be company vehicles, equipments, tools, materials and supplies.

how to get a general contractors license in Texas

This depends on a number of things. It's hard to say without knowing what kind of work you are sub-contracting. First determine if you need Professional Liability coverage Or Commercial Liability Coverage. They are very different products. Most General Contractors do require the subs to carry insurance. Otherwise the General Contractor will have to pay much more for insurance coverage that effectively covers his or her own activities as well as those of the sub-contractors. If the General Contractor you are doing work for already has coverage for his subs under their insurance (usually not). What is the nature of your agreement with the General Contractor. Some Contractors insurance policies cover subs while others do not.

Most states require some form of contractors liability insurance for contractors to operate a business. It is also in the contractors best interest to have liability insurance to protect against any type of problems which may arise during construction. Liability insurance is also a marketing tool which many customers like to see when choosing a contractor.

Actually, This is covered under your Contractors General Liability Insurance. If your contracting builder does not have insurance, you need to get rid of him, and find another contractor immediately.

Commercial General Liability Insurance, otherwise known as CGL provides the coverage required for contractors in the construction trades

No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.

general insurance and life insurance 'Professional Indemnity' under General Insurance.

There are so many variables, you really should contact a multiline agent, or many agents, to get the quotes they will need to have information from you to properly quote these rates.

No, they do not need to have EO insurance. They can choose to get this coverage if they wish, however.

If you need information about contractors regarding damage of your home, call your insurance company. Your insurance company will usually refer you to a representative who can speak to you about your home.

Do i need a general contractor license for commercial jobs.

It depends on what kind of insurance you need. I honestly can't help you because you could need health insurance or car insurance or any other kind of insurance out there so I don't know what kind of application you need.

The reason companies need pollution insurance is because no other insurance policies will cover damage and remediation costs resulting from pollutants you use during your business operations. Lots of companies use pollutants but some have a lot more pollution liability risk including general and artisan contractors, dry cleaners, abatement contractors, manufacturers, automotive companies, etc. Example: Painting contractor leaves a gallon of paint on sidewalk and it gets kicked by a runner, the paint seeps into a storm drain. Not covered by general liability.

If there are no employees in the business, there is no need for workers compensation. However, handymen, landscapers and other part time contractors may be considered employees and need to be covered. The defining factors between an independent contractors (do not need to be covered under workers compensation) and employees (do need to be covered under workers compensation), has a lot to do with them having a contractors license, insurance, workers compensation for their employees, etc. If you are unsure, it is best to disclose the possible employees to the insurance company and let them decide if they need to be included or not.

This is not as simple a question as it may seem. Subcontractors generally carry their own liability insurance. The General Contractor should verify that the sub contractors insurance either matches or exceeds their own policy limits as this is part of the contract terms for almost every general liability policy. In effect if you let an uninsured subcontractor work on your job, unless you endorse your own policy to cover the subcontractor and pay the additional premium, their would be no coverage under the General Contractors insurance policy for liabilities of the Subcontractor. Basically if you get this wrong, the General contractor will be on the hook and out of pocket for all the subs damages with no coverage for it. If you want the subcontractors covered under the General Contractors insurance policy it can certainly be done but will be significantly more expensive as you would be asking to insure a third party''s work.

Yes you will need a contractors license and they will require you to have a bond and liability insurance also if you are going to have any employees workers comp.

There are many reasons a government contractor would be required to have DBA insurance. The most common reason one would have insurance is for legal protection.

You need commercial General Liability Insurance

In general, no. You only need a beneficiary for life insurance.

For most business owners, one of the most significant recurring expenses they face is the cost of insurance.� Similar to many other business owners, contractors need to carry a few different types of insurance policies to ensure that they are compliant and stay covered. � � One form of insurance that they will need to carry is general liability insurance.� General liability insurance will cover a contractor in the event that something goes wrong when they are working on a project.� This could protect them from lawsuits filed from both their customers as well as current and former employees who are hurt on the job. � �����

The contractor should be bonded and carry liability insurance and you need to require proof of this before they start. Homeowners insurance is not meant to guarantee work on homes.

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