As a small business owner (and/or a contractor), you should be aware of the serious need to have a substantial general liability insurance coverage plan in order to protect yourself and/or your company. No matter how many times you may have heard it, when starting a company or business endeavor it is imperative that you have a general liability insurance coverage plan. Chances are, your company and/or your profession will become your livelihood, and therefore protecting it can and should rapidly become more and more important.
Just one accident, that’s all it takes and your life can be turned upside down for the worse. Accidents can easily lead to a lawsuit that may destroy your company’s and/or personal finances. When an employee or yourself is injured while on a job or causes injury and there isn’t liability insurance involved, the results can get frankly, rather ugly. Prepare and protect should be on your mind when forming your company and/or starting a construction job.
Specifically as a contractor it is important to be aware that many employers may in fact, actually require their workers/employees to carry some sort of general liability insurance before they even start work. Although as a contractor you may not have payroll to worry about or any other factors that come into play when owning and running a business, you still need to be protected from risks that you can be liable for at your job and usually you are exposed to more risks than you may think. If you do not already have general liability insurance, finding a provider who specializes in general liability insurance is an extremely important task that you should take action in as soon as possible; protect yourself and your assets before it’s too late.
If you need to protect your commercial building and/or personal property as a business owner you may consider combining general liability insurance with property insurance; many coverage carriers do offer specialized plans that will enable you to design the right plan for you, your company and the protection needed to succeed safely and productively.