Wednesday, 4 April 2012

Introduction to Contractor Insurance

Today, a large number of the work place composed of contractors. When you are a contractor or business owner, the significant things to have is a trustworthy insurance plan. The contractor insurance planned to protect the contractors from claims or lawsuits on injury, property damage and some other related to work. 

This kind of insurance policies designed for folks or companies, which offer services to other company. As a contractor, they are liable for all parts of the project and responsible for all injuries or damages that occur while working. Any asserts made on an insured contractor managed by the insurance company.

The insurance company has numerous coverage terms and classified into three categories. They are the coverage for the client, coverage for the contractor and coverage for anyone who directly affected by the contractor. Based on the policy, the coverage category varies from property damage payment to the liability protection. The liability protection comprises the legal service, medical expense and work compensation.       

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