Liability Protection for Artisan Contractors

Here are some of the types of liability insurance that contractors can’t afford to overlook.

As a contractor, you face a considerable number of liability risks.  Luckily, there are steps that you can take to mitigate these threats.  One of the best ways to protect yourself and your business is by securing the right liability coverages.  Here are some of the essential types of liability insurance that contractors can’t afford to overlook.

General Liability Insurance

A general liability insurance policy offers coverage for the property damage or bodily injuries that you might accidentally cause to a third-party while completing professional work.  For instance, if you were painting a home and accidentally dropped a can of paint and ruined the homeowner’s rug, then your insurance would cover the cost of replacing it.  Additionally, if the homeowner decided to sue you for further damages, then your general liability insurance would offer coverage for your legal defense and, if necessary, your settlement costs.

Professional Liability Insurance

Also known as errors and omissions (E&O) insurance, professional liability policies offer coverage in the event that you make a mistake or are negligent while rendering your professional services.  While general liability policies offer coverage for physical damages and injuries, professional liability insurance offers coverage for financial losses that you might accidentally cause.  For instance, if you renovated a client’s bathroom, but failed to adhere to the most recent building codes, then your professional liability insurance would cover the costs of the homeowners having to re-do the renovations.  Just like general liability coverage, professional liability insurance will offer coverage for your legal defense and settlement expenses should the affected party decide to sue you.

These are the types of liability insurance that contractors cannot afford to overlook.  Are you interested in securing the right insurance protections for your contracting or construction business?  Then contact the professionals at Artisan Insurance Solutions.  We are ready to get you the coverage that you need today.