It is important to have the proper general liability insurance as a general contractor to protect yourself and your livelihood. General liability insurance is designed to protect you from a number of claims that might arise from normal business operations including property damage, personal injury, bodily injury, and negligence. A lawsuit from a single accident can be financially devastating for a contractor. At Palomino Insurance Agency, Inc. we will make sure you are protected through a general liability insurance policy tailored to your specific needs.
General liability insurance is often grouped into a business insurance policy that includes other coverage such as property insurance. Contractors may only need liability coverage or a few additional types of coverage depending on the unique risks they face. By offering customized contractors insurance policies, you are able to get the coverage you need, without the additional coverages required by other business owners.
In order to receive your general contractors license and bid on work in Florida, general liability insurance is required. No matter where you are working in Scottsdale, Maricopa County, or Pima County, a minimum level of general liability insurance must be carried.
General and building contractors:
- $300,000 for bodily injury
- $50,000 for property damage
- $100,000 for bodily injury
- $25,000 for property damage
Many contractors will require more than the minimum requirements to be adequately covered. This can be based on factors such as the work being performed and total payroll expenses. In addition to general liability insurance, contractors may also need other types of insurance. Worker’s compensation will protect you and your employees from work related injuries or illnesses. If you operate vehicles on the job, commercial auto insurance may be needed as well.
In most cases, contractors are required to post a certificate of insurance on the job site to verify that they are carrying the minimum insurance coverage required by law. Without a certificate of insurance, you run the risk of breaching contracts. At Palomino Insurance Agency, Inc. we will provide you with your certificate of insurance right away so that you can begin work as soon as you are insured.
Whether you are a general contractor, a plumber, or an electrician, our team of experienced insurance professionals will help you select a contractors insurance policy that will keep you protected from anything that could happen during your business operations. Contact us today for more information on contractors insurance or to receive a free quote!