What is contractor insurance, and why is it important?
Are you a contractor, and you are looking for a way to protect your money, and also your workers? If your answer to this question is yes, then you should read this article in order to find out more useful information about contractor insurance, which is probably the best solution for your problem.
What most of us should know is that because the rapid development of insurance agencies, this type of insurance package is now offered by many companies all over the world. This means that you can benefit from it even if you live in areas such as Plantation, Margate, Tamarac, and North Lauderdale. Another consequence of this development is that the price you have to pay in order to buy one has considerably dropped, making it available even for young contractors who do not have large amounts of money to spend on insurance.
Most of the insurance companies offer you the possibility to choose what policies should your contractor insurance include. You can usually choose between:
1.Property coverage– which covers the costs of your project, in case it gets damaged during its building.
2.Liability coverage– this insurance policy covers the costs that can be generated by medical payments, injuries, hired vehicles that you might use on the construction site.
3.Income Protection– which guarantees your income while your business is suspended if any damage to property interferes with your work.
This insurance is very important for any contractor because you never know when disaster strikes, and for a small price you have to pay when buying it, you will no longer have to worry of losing money in case something damages your project.
There are contractor insurance policies that even cover for the costs of any lawsuits caused by an injury of one of your employees.