As a contractor, you know how important it is to have insurance coverage. But with so many options available, it can be difficult to know which type of coverage you need. One of the most important types of insurance for contractors is general liability coverage. In this article, we’ll discuss what general liability coverage is, why it’s important, and what it typically covers.
What is General Liability Coverage?
General liability coverage is a type of insurance that protects your business from claims of bodily injury, property damage, and personal injury that may arise during the course of your work. This coverage is designed to protect your business from financial losses that could result from lawsuits or legal claims against your company.
Why is General Liability Coverage Important for Contractors?
As a contractor, you work in an industry where accidents and injuries can happen. Whether you’re working on a construction site, installing equipment in a home, or providing services to a customer, there’s always a risk of something going wrong. General liability coverage protects your business from the financial impact of these incidents. Without this coverage, your business could be liable for medical bills, legal fees, and other expenses that result from a claim against you.
What Does General Liability Coverage Typically Cover?
General liability coverage typically covers three main areas: bodily injury, property damage, and personal injury.
Bodily injury coverage protects your business in the event that someone is injured on your job site or as a result of your work. This could include injuries sustained by your employees or by third parties, such as customers or passersby. If someone is injured, your general liability coverage would pay for their medical bills, lost wages, and other related expenses.
Property damage coverage protects your business in the event that you damage someone else’s property while performing your work. This could include damage to a customer’s home, business, or personal property. If you’re found liable for the damage, your general liability coverage would pay for the cost of repairs or replacement.
Personal injury coverage protects your business in the event that you’re accused of causing harm to someone’s reputation or privacy. This could include claims of libel, slander, or invasion of privacy. If you’re found liable for the personal injury, your general liability coverage would pay for legal fees and damages awarded to the plaintiff.
What General Liability Coverage Doesn’t Cover
It’s important to note that general liability coverage doesn’t cover everything. There are some types of claims that aren’t covered by this type of insurance, including:
- Professional Liability Claims: If you’re accused of providing poor quality work or advice, general liability coverage won’t protect you. For this type of coverage, you’ll need professional liability insurance.
- Workers’ compensation Claims: If one of your employees is injured on the job, general liability coverage won’t pay for their medical bills or lost wages. For this type of coverage, you’ll need workers’ compensation insurance.
- Intentional Acts: If you intentionally cause harm to someone or their property, general liability coverage won’t protect you. This type of insurance is designed to cover accidents and unintentional incidents only.
General liability coverage is a crucial type of insurance for contractors. It protects your business from the financial impact of claims of bodily injury, property damage, and personal injury that may arise during the course of your work. While this coverage doesn’t protect you from everything, it’s an essential piece of the insurance puzzle that every contractor should have. If you’re a contractor who doesn’t currently have general liability coverage, consider speaking with an insurance provider to learn more about your options.
If you’re looking for cheap general liability insurance for contractors, Pascal Burke Insurance Brokerage Inc. can help you find the right coverage at an affordable price. We work with various insurance providers to offer customized policies that meet the specific needs of your business. Whether you need commercial roofing contractor insurance or builders’ risk insurance in Louisiana, we can help you secure the protection you need to safeguard your business. Don’t leave your business vulnerable to costly claims and lawsuits. Contact Pascal Burke Insurance Brokerage Inc. today to get started.