Contractors Insurance

Contractors insurance is a necessity if you are a general contractor, subcontractor or builder. As a contractor, you have a high responsibility when it comes to dealing with client projects. You would be held liable for just anything – from failed projects to damages to property and employee injuries. Therefore, it is essential that you protect yourself to cover against claims in the event of injury or damage caused on your property or job site. A contractors insurance policy is mandatory if you want to supply services to a governmental organization on any level.

Contractor insurance policy covers…

Contractor insurance policy generally offers protection for you, the company to which you are contracted, and any public member directly affected by your work as a contractor in the event of an accidental damage caused to property and equipment. This also includes full liability protection cover for legal, compensation, and medical costs.

Contractor insurance policy does not cover

  • Deliberate acts of negligence or errors
  • Consistent negligent behaviour

Excluding the aforementioned major exclusions, contractor insurance is quite comprehensive, giving you and the contracting company a safety net and professional indemnity.

Additional Coverage for Contractors Insurance

Contractor insurance ensures that you continue to be covered for liability even years after you retire, as you want to be protected in the event of any ensuing legal action, though this may be a ‘run-off’ insurance policy – an extension of the liability clause.

Cost of Contractors Insurance                                                               

The cost of your contractors insurance is typically determined by a percentage of the annual revenue and payroll of your company and the amount of coverage needed.

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Aaron J. Farmer Insurance Agency, Inc.
7960 Silverton Ave. Ste. 202 San Diego, CA 92126
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