The General Liability Insurance for Contractors will be able to protect any business from third-party claims because of bodily harm or property damage. Both the contractors and the subcontractors are required to have business liability insurance. If you are the owner of a general contracting business, you need to understand why securing your insurance is important not only to protect yourself but also your business as a whole.
The EK Insurance – Who Are They?
Residents and businesses usually ask the question, “Who are the trusted contractors insurance near me?” EK INSURANCE is one of the leading general contractor insurance provider in California, Delaware, Illinois, Kentucky, as well as New Jersey, New York, Pennsylvania, and even in Texas. This Is a licensed professional insurance agent who’s priority are its clients.
The company operates by its principles: Honesty, Integrity, Accountability, Humility, and Respect for Others. They have over 2 decades of experience when it comes to property and casualty insurance, making them one of the strongest leaders in this industry. Because of their history and background, this gave them the chance to help clients find the best insurance coverage that is just within their budget.
EK Insurance – Contractors General Liability Insurance
The contractor’s general liability insurance primarily protects the contractor from any possible accidents, liabilities, and lawsuits that may be caused by the contracted work. This will help the contractors pay for legal defense needed which includes the fees, court costs, and even awards and judgments. However, there are exclusions when it comes to the coverage for damages caused by faulty workmanship resulting in damage before the construction project is completed.
In these cases, contractors are not responsible for the subcontractors’ mistakes. This is why the general contractor insurance requirements for subcontractors is to have their own general liability coverage is a must. This is also referred to as the addition to their insurance policy. With this, the contractor will be notified once the subcontractor cancels their policy.
Contractors General Liability Insurance – Is It Worth It?
The cost of Contractors General Liability Insurance varies depending on the level of risk, nature of work, as well as the payroll expenses, and the gross receipts of the company. This will also depend on the coverage required. But when it comes to the assurance that you and your business is covered, spending a little bit more for insurance will definitely be worth it.
EK Insurance is one of the most trusted insurance providers who provides professional and direct insurance advice to each of their clients. Keeping yourself and your businesses secure is very important. Accidents are unpredictable and no one can tell what the future may bring. It is important that pay close attention to insurance to help protect you from financial losses when these accidents happen.