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Builder’s Risk vs. General Liability for Contractors: What’s the Difference?

Levelset

Two of the most common insurance policies that contractors have are builder’s risk and general liability, which serve very different purposes. Builder’s Risk Insurance General Liability Insurance Coverage Covers a building under construction—and often tools, equipment, and materials related to the project.

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9 Types of Insurance You Need to Protect Your Contractor Business

Construction Marketing

As a contractor, you likely know that your business is always at risk. Between the potential for accidents and injuries on the job site and the risk of lawsuits, it’s important to have insurance to protect yourself from financial losses, but what kind of insurance do you need? General Liability Insurance.

Insurance 156
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General Liability vs. Professional Liability: What’s the Difference?

Levelset

Liability insurance protects your business against claims for damages caused by you and your workers, if you have any. The two most common liability insurance policies for contractors are general liability and professional liability. What are general liability and professional liability insurance?

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Contractor Management and Prequalification: Why Are They Necessary?

Safety Services Company

For contractors, these come in the form of a process known as prequalification and contractor management. What is Contractor Management? Contractor management is a series of checks ensuring that the contractors follow up-to-date safety practices and conform to health and regulatory standards.

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Factors to Know About Crane and Rigging Insurance

Construction Marketing

Rigging insurance, also known as riggers liability insurance, provides cover against property loss or damage when on the hook of cranes. Unfortunately, some contractors assume they have enough coverage for their construction jobs. You should include a riggers liability cover into your commercial general liability policy to be safe.

Insurance 167
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4 Things You Need To Know About Snow Removal Insurance

Construction Marketing

Snow removal insurance can offer a wide variety of policies to protect contractors and their businesses. Because of their nature of work, snow removal contractors are usually exposed to many risks, which may include anything from third-party injuries to equipment. Usually, more business means more liability risks.

Insurance 186
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What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

To help your business remain viable, contractor’s insurance should be a crucial part of your financial strategy. Insurance also puts other parties’ minds at ease when they want to hire you as a specialty contractor. Aside from owners and GCs, a government entity may want to see proof of liability insurance.