Contractors insurance is essential to have to protect your business and your personal assets. If you are acting as an independent contractor, this is even more important because chances are you are operating as a sole proprietor and therefore your personal belongings are at risk in a legal dispute.
Contractors insurance is very helpful and frequently required as a prudent measure to protect the business you are contracting out to. Most business professionals required that subcontractors and contractors carry their own business liability insurance. This type of insurance assures protection to clients also, against non-performance and other problems that commonly occur when using contractors.
Insurance is available for all trades, including roofers, electricians, mechanical contractors, HVAC professionals, plumbers and other contractors. When you enter someone else’s premises or property, you can be held liable for any damage that occurs. This can be accidental damage, damage due to faulty equipment or damage due to negligence.
Carrying contractors insurance is a good way to obtain work. Many individuals and businesses will refuse to hire a contractor who does not carry their own insurance. Use your insurance coverage as a selling point when seeking new business. Accidents happen even under the best of circumstances. To work without adequate insurance is just asking for troublesome lawsuits. The cost is very reasonable and would be tax deductible as a business expense.
Call us today to receive details regarding contractors insurance that you need. Their insurance professionals can explain what coverage you should have and why you need it. They will look at your particular area of expertise and have the experience to pinpoint the coverage you should have immediately. A checklist of coverages needed for your type of contracting work will be created to ensure that you do have all the coverage you should have in order to conduct business successfully.
Lowering your exposure to risk is another area where insurance expertise is essential. At www.rhhinsurance.com, their insurance experts know from experience what coverage will actually help lower your risks from damage that occurs while on the job. They will confirm that you have all the proper coverage limits in effect, examine the financial state of your insurance carrier and check for overall correctness.
Coordinating your contractors insurance with your clients’ specifications in contracts is another important detail to look at. Meeting all insurance and indemnification provisions is a “must do” in today’s litigious society.