The Significance of General Contractor Insurance

General contractor insurance will safeguard your business against many problems that you may encounter as you deliver your services at a work site, for example, injuries, flooding, fires, etc. Insurance policies help you to pay for the replacement of damaged property and medical expenses of the injured parties.

It would be a terrible thing if you were to lose your business or make incredible losses when misfortunes happen simply because you were not covered by insurance. They say prevention is better than cure, and buying insurance covers for your operations is the best thing you can do for your business. It will help you sleep at night knowing that someone can help you out of trouble in case things were to go down south. More info here!

In today's competitive market, everybody is trying to safeguard their money due to the global recession. Nobody wants to hire a contractor who cannot effectively cater for damages in case accidents were to happen at their premises. Even the government stipulates that you acquire insurance for protection of your interests and that of those who work with you. Therefore, to increase your chances of excelling in your field you must take insurance covers.

Here are examples of the insurance covers that you must have as a general contractor:

1.            Contractors Workers Compensation Insurance

This cover takes care of medical expenses incurred by employees due to injuries at the work site. It also includes wage benefits which are given to cater for their needs during the period when they are not able to go about their duties due to the injuries they incur.

2.            General Contractors Liability Insurance

This type of insurance cover takes of property damage and injuries that third parties may incur due to your operations. They cover the following types of instances:

o             Property damage

As a general contractor at, you will have many people working under you like plumbers, electricians, etc. If let's say the electricians were to accidentally cause a fire which damages property on the building and that of the neighbors, insurance will take care of the losses.

o             Bodily injury

If anybody who doesn't work for you happens to be injured by any of your operations, they get compensated by the insurance company.

o             Personal injury

Personal injury covers anything that can damage your reputation, for example, slander, copyright infringement, invasion of privacy, wrongful eviction, false arrest, and so on.

o             Advertising injury

This covers any financial loss experienced by another company due to your advertising. Look for more information about insurance at

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