Contractors General Liability Insurance is required by law in most states. If the contractor does not carry general liability insurance, they would be personally liable for any damages caused by the contractor while executing a contract. Because of this, most project managers and homeowners require a certificate of insurance before a contractor can start a project, including workers comp insurance in New Jersey. Contractor insurance NJ – In the past, contractors could bid on jobs without a general liability insurance policy in place, but it is becoming common to require a certificate of contractor liability insurance in most states. Are you looking for homeowners insurance?
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There are several factors that contractors need to consider when purchasing insurance for general liabilities.
- The limits of liability selected determine the cost of the policy. The type of work performed, gross income, employee payroll, and complexity of the projects are also considered when determining the cost.
- Contractor insurance premiums can be paid in full or financed with a down payment followed by installments.
- General Contractors should request a certificate of insurance from their subcontractors to ensure that they have general liability insurance.
- Certificates of insurance can typically be processed on the same business day. Make sure to submit your request early.
Why do you need it?
Contractors tend to be firm believers in Murphy’s Law: if something can go wrong on a job site, chances are, it will. As a general contractor (GC), you are responsible for everything that happens on the job site – from start to finish. If a wall collapses or someone on your crew – or any crew – is injured, you’re responsible. And what if the work isn’t up to par? That’s right – you’re responsible. At AmeriAgency we offer affordable New Jersey contractors insurance solutions that can address your liability concerns, no matter what size project you’re working on. We have cultivated viable relationships with premium carriers, so you can be sure you will have the coverage you need, no matter how unique your risk exposures. Contractor insurance NJ – Our New Jersey contractors insurance coverage includes the following:
- General Liability
- Builders Risk
- Workers Compensation
- Business Auto & Truck
- Contractor Bonds
- Life & Health Coverage
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For more information, call us at 1-888-851-5572. If you would like to receive a fast and free quote, visit us on our webpage!