Why Your Construction Business Needs General Liability Insurance

When you operate a business from your home, you need to know if it is covered under your homeowners insurance policy. Click for more.

Why Your Construction Business Needs General Liability Insurance

Why Your Construction Business Needs General Liability Insurance

11 August 2020
Insurance, Blog

If you have a construction business but do not have general liability insurance, then you might be making a big mistake. Many contractors find that they are better off having general liability insurance to cover their businesses. A few reasons why you need this coverage are listed here.

Your Trade Association Might Require It

As a contractor, you might be involved in some sort of trade association or other similar organization. If this is the case, then you probably want to do what you can to remain an upstanding member of the association since it might provide you with perks and customers. Some trade associations and organizations require all of their members to hold certain types and levels of insurance, including having a certain amount of general liability insurance to protect their properties. Find out from someone at your trade association about whether or not general liability insurance is required and whether you are required to have a certain level of general liability insurance coverage in order to maintain your membership.

Your Customers Will Be Comforted to Know That You Have It

You probably want to do everything that you can to make your customers feel comfortable with hiring your business for their construction needs. By having ample insurance coverage and providing information about your insurance coverage to your customers, you might find that you will get more contracts than ever.

A Non-Employee Could Potentially Get Hurt

You might already have workers compensation insurance in place to protect your employees if they get hurt on the job. However, you should remember that construction sites can be dangerous, and there is the possibility that customers or others could be injured while you're working on the property. Having general liability insurance will help protect the injured person and your business if this does happen.

You Could Accidentally Damage Someone's Property

When you perform construction work for your customers, you probably make it a priority to work safely and carefully. However, you can't guarantee that you won't accidentally cause damage to a customer's property. For example, while you're working on a roof, something could fall off of the roof and damage the homeowner's car. When you're carrying ladders or other heavy equipment, you could accidentally scrape or damage a vehicle that is parked in the driveway or a window that you pass by. Of course, it's important for you and all of your employees to be careful when you are working so you can help prevent these things from happening. However, having general liability insurance is also a necessity, just in case.

To learn more, contact a company that offers general liability insurance.

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your home business and homeowners insurance

When you operate a business from your home, you enjoy the benefit of not having to commute to a busy office every single day. One thing that you may not have considered is whether your home business is covered under your current homeowners insurance policy. If you have expensive equipment, inventory and files stored in your home, you may need to add a rider to your insurance policy to ensure that you are covered. Find out more about how a home business can impact your homeowners insurance policy and whether or not you are protected as your policy stands today.