Contractor Liability Insurance to Cover Your Assets
As you think about the most important tools in your toolbox, there is one that is most important. Your Liability Coverage is an essential tool to have and can really get you out of a bind—think of it as the legal multi-tool that every contractor should carry.
If you’re a bigwig in your industry, you’ve got some pretty big contracts, some expensive tools, and a lot of people that work for you. Chances are basic contractors insurance doesn’t have enough liability coverage to protect you.
Liability Insurance for TNT, ACE, and XYZs in Business
Most likely you’re not blowing things up regularly with TNT... but if you were, it would make sense that you’d need extra coverage. Even if your regular assignments are routine, every once in a while, you may get a job that calls for some extra ‘power.’ When that time comes, it pays to be properly covered.
Whether you work heavily in the Architecture, Construction and Engineering (ACE), or you’re a residential handyman, you never know what problems you’ll encounter. That’s why you need liability insurance to cover those unforeseen XYZs of business.
Winning those ‘You’ve-Got-To-Be-Kidding-Me’ Moments
As careful as you are, you are likely to make a mistake. We all do. One day, the mistake may be a really big one, and not having the proper amount of coverage could mean too little too late for your business.
Liability insurance is coverage designed to protect contractors and their businesses from third-party liability, litigation and the legal costs associated with it.
It helps protect against:
- "Additional insured" - lessors of premises, manager or lessor of premises, mortgagee assignee/receiver, owners of leased premises, and state or political subdivisions, when required by contract
- Injury or property loss at your business or as a result of your operations
- Medical expenses for injuries – covered right away (like trips to the emergency room, for example)
- Property you don’t own that’s in your care, custody and control
Whether you accidentally cause damage to a client’s property or someone gets significantly injured, having the proper amount of Liability Insurance will ensure that your business stays afloat during the chaos of a catastrophe.
Get Yourself Covered
Working with Westfield means working with people who know your industry and its risks. Westfield agents can help make sure you know what coverage you need to stay protected during all of those ‘you’ve-got-to-be-kidding-me’ moments.