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General liability insurance for contractors
Why does a contractor need general liability insurance?
Like any other small business owner, construction contractors can be sued and held liable for damages. General liability insurance is essential for independent contractors because:
It protects you and your business. Independent contractors have the same legal obligations and liability exposures as larger firms. They can be sued for damaging client property, causing bodily harm, or advertising injury. General liability insurance helps cover legal fees and damages resulting from a lawsuit.
Your contractors want you to have it. Your clients may require you to have general liability insurance before they sign a contract with you. Without this insurance, they could be held responsible for alleged wrongdoing or accidents caused by you or your work.
It may be required by law. Certain industries, such as construction, require independent contractors to obtain general liability coverage. Most often, it’s best for both you and your client to obtain separate general liability insurance policies.
Can an contractor be held liable for damages?
Independent contractors can be sued and held liable for damages, just like other small business owners. Without insurance, you would have to pay out of pocket to defend yourself in court and also pay for damages. With a general liability insurance policy, those expenses are covered.
Different industries bring different risks. A 1099 worker hired to design a web page faces significantly different risks than one hired to remodel a bathroom. For example, the web designer is more likely to run into copyright infringement issues, while the remodeler faces the risk of potential injury to the homeowner. General liability insurance addresses both issues.
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How does an subcontractor get general liability coverage?
The best way for an contractor to get general liability coverage:
Get your own general liability policy. You can purchase general liability insurance from an insurance provider. To show a client that you are covered, request a certificate of insurance from your provider. This option is usually more cost-effective for your clients.
Both options provide protection if either you or your client is faced with a lawsuit over third-party bodily injury or property damage.
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