Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
General Liability insurance will cover third-party claims when your business is held liable due to your business operations. It pays for the attorney and court fees, litigation and judgment awarded by courts.
A surety bond is a contractual agreement between the contractor and the owner guaranteeing the completion of a project and the compliance of regulations. If these are not completed, this policy will pay the loss to the owner and find another contractor to finish the project.
Your business is legally obligated to take responsible care of and make sure that your employees are safe. But accidents do happen and when they do, Workers Compensation will help cover medical fees and rehabilitation expenses. This type of insurance can also cover the employee's lost wages and then relinquishes the employee's right to sue your business for negligence.
Professional Liability insurance covers the acts of errors, omissions, and other claims of negligence regardless of whether you made a mistake or not. This insurance will cover the attorney fees, court fees, and other related expenses when involved in a professional liability claim.
Contractors bear the risks and responsibilities of making sure that a project meets the expectations of their clients. But unexpected things do happen and when they do, you must make sure that your business is protected with insurance. Insurance covers the costs of lawsuits, medical fees and other expenses so you don't have to pay out of your pocket. You simply need to pay a small monthly fee.
Below are some risks contractors can face:
The cost of insurance for contractors usually relies on the size of the business the coverage needed. Without taking these into account, below is the average cost of insurance policies for your business:
CoverWallet utilizes state of the art technology to help small businesses understand and buy customized coverage, get significant savings and conveniently manage their insurance, in a matter of minutes, all through our online platform.
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