As a contractor, you might be enjoying the business boom following the uptick in the nation’s economy. Looking for the next big project means you need to be prepared to submit a bid and get your crew on the job site. Maintaining comprehensive insurance in CT will make it easier for you to quickly forge ahead with your work.
There are a number of risks that your business faces as you sign contracts for jobs and enter work sites.
The general liabilities you are exposed to include:
A general liability policy is financial assistance you need to resolve claims of damage as well as harm or negligence. However, there is more to contractors insurance in CT than the commonly assumed exposures. A more comprehensive coverage plan will also address a breach of contract, errors and omissions, commercial vehicle, and workers’ compensation benefits.
Some business insurance plans can be bundled into a commercial package policy. Given the restrictions and applications for contracting and any specific laws for your geographical area and scope of operations, you will need to meet with an insurance broker for an exact breakdown of coverage requirements. Having too little insurance is just as costly as having no insurance, and you don’t want to wait until a lawsuit arises to find out if your coverage is comprehensive enough to address it.