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Why Subcontracts Need Separate Contractors Insurance

Contractors Insurance for Subcontractors 

As a business owner, it’s essential that you protect your assets. If you’re a subcontract, it’s likely that you work for larger companies and assume that they are the only ones at risk if the worst were to happen. However, that would be a mistake. Subcontractors need their own contractors insurance in Pasadena, CA to protect their individual business.

Subcontractors often work under larger companies, but not as employees. In turn, any lawsuits or claims filed against the work you undertake are held to your specific business. For this reason, and many more, you should have separate insurance to protect yourself from these risks. Insurance can cover:

  • Asset protection – Subcontractors should have property insurance to safeguard their assets, such as tools, equipment, computers, and any other items you own. If you operate out of a building, you need property insurance for that, too.
  • General liability – This coverage helps to pay for instances of negligence that can be filed against you. Claims and lawsuits can be extremely expensive, even if you aren’t found negligent. Such a policy can help you pay for these lawsuit expenses.
  • Professional liability insurance – This is designed to safeguard your business from lawsuits resulting from claims of negligence and error. For businesses in the construction industry, it can be helpful to take on more liability protection to offset the large liability risk.

It pays to have your own insurance coverage working to safeguard your business. Should a lawsuit or claim occur, you know your business remains protected from the financial loss. If the worst does happen, having reliable contractors insurance can mean the difference between staying on track and your business closing its doors for good. For the easy and convenient insurance services that you need, contact the experts at Artisan Insurance Solutions. We are ready to get you the coverage that you need today.

 

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