WHO NEEDS CONTRACTORS INSURANCE?
There are many types of independent contractors who all need independent contractors liability insurance and other coverage to match their specific risks. Some of the professionals that need contractors insurance include:
- Independent construction contractors
- Plumbers, carpenters, electricians, and painters
- Repair people
- House and carpet cleaners
- Freelance writers, editors, and graphic designers
- Independent hair stylists, and salon professionals
- Horse or dog trainers
TOP COVERAGE CONSIDERATIONS FOR INDEPENDENT CONTRACTORS
Errors and omissions
Contractors who provide consulting and advice, such as accountants, financial planners, interior designers, and landscape architects, need to be concerned about liability risks due to losses a client may experience as a result of the contractor’s recommendations.
Bodily injury and property damage
Contractors who work with heavy machinery and tools, such as plumbers, re-modelers, and electricians, need to be concerned with mishaps due to hazards such as power tools, defective machinery, and compressed gas.
Product and liquor liabilities
Independent contractors who serve food and alcohol at functions need to be concerned with potential injuries and illnesses due to food and alcohol served.
Medical and disability
As a contractor, you are most likely not on a group plan to cover your own injuries, which can leave you exposed to a loss of income risk if you become ill or injured.
DON’T UNDERESTIMATE YOUR RISK
Getting the right independent contractors liability insurance in place can protect you from lawsuits, mishaps and third party property damage that can devastate your business.
Normally, you will need a few different categories of coverage for complete liability protection:
General liability
The foundation of all contractor insurance coverage is a general liability policy. This coverage will provide two types of protection
Bodily injury
Provides coverage if you or someone you employ causes injury or death to a third party during the course of work. It provides for medical care for the injured person and covers your legal defense if you are sued for damages
Property damage
Provides coverage if you or one of your employees causes damage to property belonging to others. This includes the building or property you are working on or any third-party property
Completed operations/product
Provides coverage in case a project you finished has an issue or causes damage. It can also extend to any products you sell or distribute.
Advertising personal injury
Covers the risk of damaging another’s reputation or causing a loss through slander, libel, or false advertising claims.
Contract liability
This covers you in a contract dispute. It is not always included in general liability coverage so verify that you carry this coverage with your insurer.
The specific independent contractors liability insurance coverage you need will be unique to your business. By working with a knowledgeable agency, you can ensure that you don’t have critical gaps in coverage that could leave you exposed to expensive legal claims. Call or text Jones Insurance at 985-447-4007 or visit our quotes page today.
