Claims Covered with contractors liability insurance
Before knowing about contractors’ liability insurance, you must look at the definition of general contractor. Subcontractors are generally managed and hired by the general contractor. The contractor acts like a prime contact for the construction project. Heating and cooling equipments, plumbing and roofing aspects of the house can be installed by the contractors. Lots of things are generally associated with the process.
What is contractor?Supervision of the construction work is generally done by the contracting professionals. Entire project is generally built according to the instruction of the contractor. Renovation work is managed at the same time. Contractors generally hire subcontractors to manage the project in perfect manner. Following to completion of the job, money is generally offered to the subcontractor. Payment of the money is generally done in a timely manner. Only a percentage of total amounts are generally taken by the general contractor.
The responsibility of entire project depends on the contractor. Therefore, it is necessary for the contractor to have general contractor liability insurance. It is possible to find insurance for residential contractors also. While acquiring insurance, types of the claims covered must be looked at. Through insurance, protection from risk and damage can be obtained. Therefore, it may be important to look at the matter seriously. Claims from third party can be managed at the time too.
Claims for bodily injury
Construction industry is labor intensive in nature. Business is done in careful manner with the assistance of insurance. Best Chatsworth California General Contractors always comes with insurance for safeguarding everybody from damage. It is quite natural to encounter accidents on the worksite. By using this insurance, issues related to lawsuits and accidents can be dealt with utmost care.
If the accident happens in the business premises then payment for the medical expense in addition to court services and funeral expenses can be managed with the insurance. Both illness and injuries are taken under consideration with the claims.
Claims for Property Damage
General Liability Insurance generally takes care of lawsuits that come with high amount of cost. If someone claims that they have faced damages due to the construction work then help from the insurance can be taken. In case of a remodeling work, advantage of the insurance can be taken also. However, property for the remodeling may not be included within the insurance always.
Claims for completed products
Protection can be offered to the complete services also. During installation of equipments, damages can be seen with the homeowners and professionals. Contracting company can be held responsible in the process. During this time, insurance can come as a help. Every kind of legal expenses and damages can be taken care of perfectly. However, policy limits may play an important role at the time.
Claims for Medical Expenses
Commercial general contractors can be benefitted through the insurance also. Medical expenses are paid by the insurance company in the process. In spite of damage, trouble may not be seen to run the company at all. Liability risk may not be seen due to presence of insurance.