Construction and contracting are capital intensive investments. Risks may arise resulting to legal actions that may lead to big losses. You are liable to a law suit whether the accident occurs on your premise to a third party or on a contract you did for a client . With contractors general liability insurance California citizens can shields themselves against losses that may arise in case of liability claim suit.
A general liability insurance cover is vital in protecting your business assets. In cases a third party is injured or comes into harm directly or alleges that he got injured as a results of your negligence or improper work or suffered property damage your assets cannot be seized to compensate them. But if the judgment rules against you and you have no cover then your assets can be seized.
Your work force is responsible for undertaking most of the actual construction and contracting putting them at direct risks. This therefore means that a third party may take them to court for claims of injury. However, with the this cover they have not worry. As an employer you should also have a workman compensation cover for your employees. This covers their medical cover which is not covered by the general liability policy.
This cover is the only cover that can cover your settlements in case of a court ruling for a settlement of a claim. It also takes care of the legal fees . The insurer also compensates for business that maybe lost during the trial period. As a contractor you can thus relax and concentrate on running your business without worry of running bankrupt from settling claims.
Most people do not completely trust insurance especially when it comes to claims settlement. This is why it is important that you understand your policy and what it can and cannot cover. The insurance agent should explain to you clearly about the policy. All the details pertaining to the claims that can be covered must be clearly indicated.
One of the important cover you should take is the damage property claim. This is important in cases whereby your clients files a suit claiming that your work destroyed their business. They may also claim that as a result of your work they are unable to use that property. It's important to note that if you are a remodeling contractor this does not cover the property that you are working on.
A medical expenses claims policy is another policy you should have. This deals with a third party that may come in harm at your property. It covers all his medical expenses. You should rush the person to hospital immediately to eliminate other liability or claims that can be made. This also saves time and extra costs that may be incurred.
After completion of your work accidents may still occur and that is why you should also have the completed products claims cover. Other claims that can be covered involve copyright and branding claims covered by the personal and advertising injury policy. This covers claims that arise against your company on use of copyright information, materials or brands without permission. The liability insurance cover protects your assets, settles your claims and shields company from losses.
A general liability insurance cover is vital in protecting your business assets. In cases a third party is injured or comes into harm directly or alleges that he got injured as a results of your negligence or improper work or suffered property damage your assets cannot be seized to compensate them. But if the judgment rules against you and you have no cover then your assets can be seized.
Your work force is responsible for undertaking most of the actual construction and contracting putting them at direct risks. This therefore means that a third party may take them to court for claims of injury. However, with the this cover they have not worry. As an employer you should also have a workman compensation cover for your employees. This covers their medical cover which is not covered by the general liability policy.
This cover is the only cover that can cover your settlements in case of a court ruling for a settlement of a claim. It also takes care of the legal fees . The insurer also compensates for business that maybe lost during the trial period. As a contractor you can thus relax and concentrate on running your business without worry of running bankrupt from settling claims.
Most people do not completely trust insurance especially when it comes to claims settlement. This is why it is important that you understand your policy and what it can and cannot cover. The insurance agent should explain to you clearly about the policy. All the details pertaining to the claims that can be covered must be clearly indicated.
One of the important cover you should take is the damage property claim. This is important in cases whereby your clients files a suit claiming that your work destroyed their business. They may also claim that as a result of your work they are unable to use that property. It's important to note that if you are a remodeling contractor this does not cover the property that you are working on.
A medical expenses claims policy is another policy you should have. This deals with a third party that may come in harm at your property. It covers all his medical expenses. You should rush the person to hospital immediately to eliminate other liability or claims that can be made. This also saves time and extra costs that may be incurred.
After completion of your work accidents may still occur and that is why you should also have the completed products claims cover. Other claims that can be covered involve copyright and branding claims covered by the personal and advertising injury policy. This covers claims that arise against your company on use of copyright information, materials or brands without permission. The liability insurance cover protects your assets, settles your claims and shields company from losses.
