What is contractors liability insurance?

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Contractors Liability Insurance is actually a form of Commercial General Liability (CGL)insurance tailored for the construction contractors market. CGL provides insurance for your company in the event you cause property damage and/or bodily injury to a third party. (i.e., your customer or an innocent third party) CGL comes in different forms with different coverage It is essential to match yours coverage needs with your work risk exposure. A good insurance professional can help you with this. NOTE Liability insurance does not cover poor workmanship, tools or injury to employees.
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Are a general contractor's liability insurance premiums based on what they pay sub-contractors?

Contractors General Liability Insurance Premium for a general contractor can be based on one or acombination of two things, either your gross receipts and or yourpayroll and cost of subcontractors. Each company has it's ownrating methodology so it depends on which market is quoting foryou. As far a (MORE)

As an independent sub-contractor are you required to get professional liability insurance?

This depends on a number of things. It's hard to say withoutknowing what kind of work you are sub-contracting. First determine if you need Professional Liability coverage OrCommercial Liability Coverage. They are very different products. Most General Contractors do require the subs to carry insura (MORE)

Where to get general liability policy for general contractor?

Contact a licensed commercial insurance agent in your area. It will be able to assist you if it do not sell the particular coverage you need by referring you to another broker. Do a search for general liability insurance for your state and hundreds of agents will show up. Make sure you use a con (MORE)

Can you get general contractors liability insurance by the job?

The companies I work with have a minimum earned premium of 25%. So technically you can buy it by the job but it will cost you a lot more than if you kept the policy for the year. As of August 2012 there are now per job policies available to contractors in about half of the states in the US.

How is general liability insurance calculated for a general contractor in NY?

Well it depends on the company providing the policy. Most willcalculate the premium based on your direct payroll and they couldalso add in payroll for your subcontractors. If you don't want topick up the premium charge for your subcontractors you will have toshow the insurance company that the subs (MORE)

How do I as homeowner get around a liability for a contractor that does not have workman's comp insurance?

You don't. You simply hire a reputable contractor who provides theinsurance necessary for his or her line of work. Never hire acontractor who can not show you that he is properly insured for thejob being offered. It is the contractors responsibility ( not the customer ) toprovide coverage necessary (MORE)

Why do contractors have a down each year for general liability insurance?

Most policies are for a term of one year. Insurance companies require down payments due to the fact so many contractors cancel their policies soon after they get their coverage certificates. This means they charge down payments to make sure they get enough premium to offset the cost of generating th (MORE)

How much does it cost for General contractor general liability insurance?

The cost of general liability depends on. 1) The type of contracting work you plan to do (Commercial, Residential, Demolion etc). 2) The amount of work you plan to perform in a year. 3) Your expected payroll and/or subcontractor expenses. 4) The amount of coverage you want. (Do you want $100 (MORE)

Where can i get affordable electrical contractor insurance?

Affordable insurance can be a deadly trap. What you want is the best coverage value for your money. Liability insurance comes in various forms. The cheaper policies tend to have many more coverage exclusions (this means things that won't be covered in a claim). I suggest you start by doing a search (MORE)

Why insurance very importance to contractor?

Accidents happen. When something goes wrong, people want someone to pay for their loss. You can either pay using YOUR money or can use the insurance company 's money. This is why insurance is important to a contractor.

Who pays contractor's general liability insurance the general contractor or the client?

While different states may have different requirements, it is generally the responsibility of the contractor to furnish his or her own general liability insurance. Of course, the costs of any business will be, one way or another, paid for by monies received from clients. These are "overhead" costs a (MORE)

Are contractors required to have liability insurance in Texas?

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.

Why does a contractor need a professional liability insurance policy?

A contractor typically needs a Commercial General LiabilityInsurance Policy. If the contract includes professional services, then the contractorwill likely be required to carry Professional Liability Insurance,either in addition to, or in place of a CGL policy. It really justdepends on the nature o (MORE)

What happens if a contractor does not have general liability insurance?

The contractor may not be able to qualify for jobs, as most principals require proof of insurance as a condition of the contract; this is especially true for public sector jobs. If the contractor is responsible for damage to the property owner or others who would otherwise have been within the ambi (MORE)

How can you know if a contractor is licensed and insured?

So you have a contractor in mind for you Home Improvement Projects, and now you want to verify if they are; in fact, "Licensed and Insured" Like their Business Card, Company Vehicle, or Advertisement states. Well, verifying a Contractor's License and Insurance Policy status isn't that hard, if you k (MORE)

Is insurance a liability?

No, Insurance is a means of contractually transferring risk including the risk of liability to another entity, namely the Insurance Company issuing the policy.

How much does it cost for contractor general liability insurance?

CGL premium rate are generally based on your annual receipts and your labor costs, payroll and costs of subcontractors. Also effecting your insurance rate will be whether you require your subcontractors provide you with proof of their own liability insurance for their work performed or if you are (MORE)

Does Texas require general contractors to carry liability insurance?

No, the state of Texas does not require it as of the time of thisanswer. However, most Texas clients are financially savvy and are notlikely to offer a contract or even accept a bid from an un-insuredcontractor. The first hallmark of a reputable contractor is that they comeproperly insured for the (MORE)

Are contractors required to carry liability insurance?

Legal requirements would be dependent on you local regulations, so you'll need to check with your local authority to determine if it is required. Bear in mind though that most prudent companies and individuals would not hire a contractor who can not insure his activities. Uninsured contractors (MORE)

How is liability insurance handled in insurance?

In most cases, clients are handed over with the processes and legal documentation of getting an insurance from a company - providing the necessary information ,limits and scope of the client's insurance - which then includes liability insurance.

Can you deduct work comp or general liability insurance from a 1099 contractors check if they don't produce their own policy in Nebraska Iowa or Texas?

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 (MORE)

Do you need liability insurance on your workers if they are on the prime contractors equipment?

Workers safety is of utmost importance since the contractor's job sites are often dangerous places and even though precautions and care is taken, there are still accidents that take place and cause losses to the business. For protection against these losses and to prevent excessive costs, a contract (MORE)

Where can you purchase contractor insurance?

Contractor insurance can be purchased through the Aegis, Nationwide and Progressive insurance companies. Also, both the Contractors Insurance business and organization sites offer aid on the subject.

What is the address of Contractor Liability Insurance?

There are a number of contractor liability insurance companies and but not a specific one listed under that name. One company that offers this insurance is Tech Insurance and their address is 1301 Central Expressway South, Suite 115, Allen, Texas.

What does an insurance contractor do?

The job of a insurance contractor is to find you the best deal possible for your insurance needs.This could be anything from motorcycle to mobile home insurance.

Why is general contractor insurance required?

Contractors will be required to carry a minimum of public liability insurance when working on sites. This provides indemnity against damage to property or persons caused by the contractor, his staff or his equipment.