Do I need general liability insurance if I am a general contractor? YES!
General liability insurance is intended to safeguard contractors, operators and business owners against most all claims. Without it, you are at risk. These claims could be just about anything, such as accidents from the operations of the insured party, contractual liability, or products that are manufactured.
The liability you select, whether it is $1M, $2M or $3M, is one of the main variable that control the cost of general liability insurance. Also factored into the rates are the kind of work being done, your gross receipts and total payroll expenses. Before buying general liability insurance, let Flatlands Jessup help you compare the quotes available in the market and find the best fit for you.
By the way, it is the business owner’s responsibility to make sure that the people working for them or as a sub-contractor are covered by an insurance policy too. For example, if a person who is not a part of the project gets injured, the injured person’s legal team can target anyone involved in the project. The more individuals that are involved, the greater the chances of a larger and successful lawsuit.