Normally, it is difficult for businesses or general contractors to work without general insurance. General liability insurance is intended to guard operators and owners of companies from claims, including liability arising from accidents from the operations of the insured party, contractual liability, products manufactured by the insured party, etc.
The liability you select, whether it is one, two, or three million dollars, determines the cost of general liability insurance. Also factored into the rates are the kind of work undertaken, gross receipts and total payroll expenses. Similar to auto insurance, when it comes to general liability insurance, you will first have to make a down payment and then follow it up with installments. Before buying general liability insurance, it is best to compare the quotes available in the market.
It is the business owner’s or general contractor’s job to make sure that the people working under him/her are covered by an insurance policy. If, for example, a person who is not a part of the project suffers an injury at work, the injured person’s lawyer can target just about anyone who was working on the project. The more individuals that were involved, the greater the chances of a successful lawsuit against you.
We offer free, comparative quotes on general liability insurance from multiple insurance carriers so you can get the best possible rate.
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