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Find Out If I Need Contractors Insurance

Contractors Insurance

When a company hires a general contractor to aid in the construction of a project, the responsibility of supplying resources, tools, and developing a schedule for the project shifts to the hired third party. Contract business owners have enormous responsibilities which are particularly aligned with the completion of an organized and efficient construction project. As a result of the functions associated with construction, business owners are readily aware of the probability that accidents or mishaps can occur even in the most efficient or organized of situations. In addition to these risks, a number of situations can arise which precipitate accidents or injuries on the work site. As a result of these risks and possibilities, it is crucial for contract businesses to possess contractor's insurance. Contractor's insurance will protect a general contractor and his or her business from legal liability. When accidents occur during a construction project, the agency accountable for the injury or accident is inevitably the general contractor. The contractor is responsible for carrying out the specific roles of the companies responsible for the physical construction of the project. While organizing and developing a schedule, the general contractor must uphold the contract of the employer. Keeping these roles in mind, the physical acts of the various companies carry great risk. As a result of the responsibility of the general contractor, they are also responsible for the well-being of the employees they monitor. The majority of states in the U.S. require that a general contractor carry contractor’s insurance. If the general contractor possesses employees directly responsible for a construction aspect of the project, they also need to possess worker's compensation insurance.

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