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9 Types of Insurance You Need to Protect Your Contractor Business

Construction Marketing

General Liability Insurance. This type of coverage will protect your company from various liabilities , including injury claims, and cover medical expenses. General liability also protects businesses if they cause damage to a customer’s property or if any product installations go awry, like faulty plumbing that causes leaking.

Insurance 156
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4 Things You Need To Know About Snow Removal Insurance

Construction Marketing

When it comes to the liabilities covered in the policy, it usually depends on the insurance provider or brokerage. But snow removal insurance is different from commercial general liability insurance. Usually, more business means more liability risks. Worker’s Compensation. Years Of Service. Tools and Equipment.

Insurance 188
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First-Party vs. Third-Party Insurance: What’s the Difference?

Levelset

First-party insurance provides compensation directly to the insured individual or business, whereas third-party insurance provides reimbursement to another party when the insured person or business is liable for damages. First-party insurance provides compensation directly to the insured individual or business.

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Insurance for Electricians: What It Covers & Why You May Need It

Levelset

This type of damage may leave electrical contractors unable to foot the bill. Why can an electrical contractor use insurance? You pay pennies on the dollar for coverage that could range into the millions for general liability (GL) insurance, for example. Which types of policies are available to electrical contractors?

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2018 Insurance market outlook: What can you expect?

Contractor Magazine

For mechanical, electrical and plumbing contracting firms, insurance is one of the largest costs. When you add up premiums for Property, General Liability, Auto, Workers’ Compensation, Employee Benefits, Life Insurance and other lines of coverage, it can often total five percent of revenues or more.

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Which Insurance Carrier Is Responsible for Damages on a Construction Project? Depends.

Best Practices Construction Law

general liability, builder’s risk, workers’ compensation, professional liability) over different periods of time, there may be a dispute as to which carrier covers the loss. In that case, an electrical contractor installed certain wiring and lighting in the owner’s home during construction.

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What Happens When You Don’t Wear PPE?

Work Gearz

Electrical hazards. Working with chemicals, glass, sheet metal, electricity, heated materials, or slippery things often necessitates the use of protective gloves. If an employee fails to wear PPE when it is necessary or wears it inappropriately, both the company and the employee are exposing themselves to liability concerns.

Injury 52