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Building construction is a very expensive and carries some risks. Contracting with clients in this litigious days also make you liable to prosecution in case of accidents. The accident may be at your premises or at a premise that your company worked on. With contractors general liability insurance California residents themselves against losses that may be incurred in case of a lawsuit.
A general liability insurance cover is vital in protecting your business assets. In cases a third party is injured or comes into harm directly or alleges that he got injured as a results of your negligence or improper work or suffered property damage your assets cannot be seized to compensate them. But if the judgment rules against you and you have no cover then your assets can be seized.
Your work force is responsible for undertaking most of the actual construction and contracting putting them at direct risks. This therefore means that a third party may take them to court for claims of injury. However, with the this cover they have not worry. As an employer you should also have a workman compensation cover for your employees. This covers their medical cover which is not covered by the general liability policy.
The purpose of this cover is to safeguard you against losses that may arise due to a lawsuit. It ensures that you do not lose any business by taking care of the court fees and even covers for business that may have been lost during the trial. It importantly takes care of the settlement bill that the court may arrive at. You do not have to worry about your business shutting down because of a third party claims.
Most people do not completely trust insurance especially when it comes to claims settlement. This is why it is important that you understand your policy and what it can and cannot cover. The insurance agent should explain to you clearly about the policy. All the details pertaining to the claims that can be covered must be clearly indicated.
There are several claims that the policy should cover. The damage property claim is one of them. It deals with case whereby a third party accuses your work of damaging their property or business. The policy however does not cover remodeling contractors since the building being worked on is not originally theirs.
A medical expenses claims policy is another policy you should have. This deals with a third party that may come in harm at your property. It covers all his medical expenses. You should rush the person to hospital immediately to eliminate other liability or claims that can be made. This also saves time and extra costs that may be incurred.
Other policies are completed products claims which basically protect your completed works or services against claims. A personal and advertising injury claims covers against libel that may arise as your contracting company using copyrighted information or brand that are patented by other companies without authorization.
A general liability insurance cover is vital in protecting your business assets. In cases a third party is injured or comes into harm directly or alleges that he got injured as a results of your negligence or improper work or suffered property damage your assets cannot be seized to compensate them. But if the judgment rules against you and you have no cover then your assets can be seized.
Your work force is responsible for undertaking most of the actual construction and contracting putting them at direct risks. This therefore means that a third party may take them to court for claims of injury. However, with the this cover they have not worry. As an employer you should also have a workman compensation cover for your employees. This covers their medical cover which is not covered by the general liability policy.
The purpose of this cover is to safeguard you against losses that may arise due to a lawsuit. It ensures that you do not lose any business by taking care of the court fees and even covers for business that may have been lost during the trial. It importantly takes care of the settlement bill that the court may arrive at. You do not have to worry about your business shutting down because of a third party claims.
Most people do not completely trust insurance especially when it comes to claims settlement. This is why it is important that you understand your policy and what it can and cannot cover. The insurance agent should explain to you clearly about the policy. All the details pertaining to the claims that can be covered must be clearly indicated.
There are several claims that the policy should cover. The damage property claim is one of them. It deals with case whereby a third party accuses your work of damaging their property or business. The policy however does not cover remodeling contractors since the building being worked on is not originally theirs.
A medical expenses claims policy is another policy you should have. This deals with a third party that may come in harm at your property. It covers all his medical expenses. You should rush the person to hospital immediately to eliminate other liability or claims that can be made. This also saves time and extra costs that may be incurred.
Other policies are completed products claims which basically protect your completed works or services against claims. A personal and advertising injury claims covers against libel that may arise as your contracting company using copyrighted information or brand that are patented by other companies without authorization.
About the Author:
To get the best rates for contractors general liability insurance California clients should use the following insurers. Find here the relevant contact info at http://www.cisburbank.com.
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