Independent contractors need more time to purchase general liability insurance since their company is small or they do not work frequently. If your company is large or small, something could happen. In the case of an employee, for instance, they could suffer an accident or inflict damage on someone else’s property, and your company may sue for advertising-related injuries. In these instances, you are responsible for covering the costs if you don’t have liability insurance. Purchasing general liability insurance is recommended to remain secure from expensive lawsuits and keep your business in good shape.
What you need to know about contractor’s general liability insurance is as follows:
What Gets Covered Under Business Liability Insurance?
Commercial general liability usually covers:
- Property damage and physical injury that results from your actions or your premises
- Advertising injury, including copyright violation
- The reputational damage that results from slander or libel
Ways Independent Contractors Can Get Commercial Liability Insurance
Another option is to purchase the insurance yourself. General liability insurance gets typically offered by insurance companies that offer company insurance. The cost and risk covered differ between providers. After buying the policy, you may contact the insurance document from the provider and share the certificate with your client.
Another option is to have your client include you in their liability insurance as the “additional insured” to ensure your protection throughout your work. Clients can also add independent contractors to their insurance, but it’s expensive.
Types of Independent Contractors Who Require General Liability Insurance
- Independent construction contractors
- Electricians
- Plumbers
- Painters
- Carpenters
- Freelance photographers
- Independent PR consultants
- Carpet and home cleaning products
- Graphic designers
- Independent hair stylists, salon professionals
- Freelance editors and writers
- Independent marketing consultants
- Independent business consultants
General Liability Insurance for Independent Construction Contractors
Remain protected if a worker gets injured while operating the equipment when a third party is damaged by the construction equipment or materials or due to workers’ negligence. Construction sites typically include multiple employees and heavy-weight equipment, which is why liability insurance can help contractors. Specific clients require construction companies to carry some general liability insurance before agreeing. In certain states, the requirement for liability insurance is compulsory for construction companies.
How Much Does an Independent Contractor’s General Liability Insurance Cost?
The price of general liability insurance will vary based on various variables, such as:
- The size and location of your company
- Industry-specific risk exposures
- The amount of the deductible that you have to pay
- Types of coverages you may need
- Your coverage is limited
You can look into various insurance companies and examine them about the policy’s price and the coverage provided. It will help you determine the insurance provider that can give an extensive range for a low price.
Different businesses bring in other risks. But, a tailored general liability insurance plan can ensure that you get adequately protected against any risk that could arise for your business throughout the day.
Commercial Insurance Ottawa Can Help to Protect Your Business
At Commercial Insurance Ottawa, we understand that different types of businesses require additional coverage. We have the expertise to deal with specific circumstances. We can custom-design your insurance to apply to your unique business needs. Call (613) 454-5640 or email info@commercialinsuranceottawa.com to get a quote on your commercial or business insurance immediately.