If it is done as a business, yes they probably should. If it is just your neighbor kid or a family friend, your homeowner's insurance probably covers it.
You are subject to liability insurance requirements whether or not an accident occurs. An accident has nothing to do with liability requirements. You are required to have liability insurance of at least the minimum required by your state before getting into a vehicle and driving it. Driving is what triggers the law.
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.
No, there is no legal requirement that you have liability insurance. However, Your clients may require it before they are willing to hire you. Carrying the appropriate license a nd adequate liability insurance for your industry is the first hallmarks of a qualified reputable business.
You are required to have at least Liability Coverage for the vehicle before ytou drive it off the lot!
Renters insurance is not typically required by law before moving into a rental property, but some landlords may require it as part of the lease agreement. It is a good idea to have renters insurance to protect your belongings and liability in case of accidents or damages.
Speak to a professional about the details of the event. An insurance agent can review the potential for both loss and liability and advise you accordingly. Not all insurance would be suitable for all events.
You are subject to liability insurance requirements whether or not an accident occurs. An accident has nothing to do with liability requirements. You are required to have liability insurance of at least the minimum required by your state before getting into a vehicle and driving it. Driving is what triggers the law.
Did you actually buy Workers Comp or General Liability Insurance for that contractor? If not, Then you have no right to deduct the cost of something you did not provide. If you "Did" go out and buy the required insurance and that requirement was in your contract, then you should have no problems deducting the cost from the check. Your supposed to verify that they have the appropriate insurance "before " you hire them.
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.
form_title=Liability Insurance form_header=Ensure that your assets are properly protected from any lawsuits that may be brought against your company. Liability insurance can safeguard against several known and unknown risks. Type of liability insurance needed?= {(),Business Liability Insurance,Property Liability Insurance,Commercial Liability Insurance,Professional Liability Insurance,Directors and Officers Liability Insurance,Product Liability Insurance,Other,Not Sure} Have you ever had liability insurance before?= () Yes () No Business Type:=_ Years in business:= {(),0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40,41,42,43,44,45,46,47,48,49,50,More}
You can purchase cheap liability insurance using companies such as Nationwide and Allstate. Be sure to read all terms and services before agreeing to a plan.
Personal liability insurance is important standard homeowners and auto insurance policies do not cover claims against individuals that result from catastrophic situations or in legal decisions. Without this kind of insurance, every individual can encounter serious financial harm if they are ever found to be responsible for extreme injury or property loss. Most insurance agents have the ability to write policies for personal liability, so does he are interested in this type of coverage should ask the agent next as they review their policy. Before purchasing separate personal liability, the insured person should first make sure they have as much personal liability coverage through their automobile and homeowners insurance policies.