What is general liability insurance for contractors?

What is general liability insurance for contractors?

General liability insurance for contractors and construction businesses helps protect your business from claims that it caused bodily injuries or damage to someone else’s property.

What insurance does a contractor need UK?

The majority of clients legally require you to have some level of Professional Indemnity Insurance , which supports your independent status. Office Insurance provides expenses cover to legally defend or pursue your rights, and liability insurance which protects damage to both your own and clients property or equipment.

What is the difference between builders risk insurance and general liability insurance?

One of the main differences between the two coverages are who buys the insurance. Generally, the person or company who purchases builder’s risk insurance is the one in charge of the project and responsible for the structure until it is sold, whereas general liability insurance is purchased by individual contractors.

Do contractors require professional indemnity insurance?

Unlike employer’s liability insurance which protects you if one of your employees claims compensation from you, professional indemnity insurance is not required by law. However, your main contractor may make it a contractual condition that you have this type of insurance.

Does public liability insurance cover employees?

Public liability insurance does not cover employees, temporary staff, students or people on work placements – for this you need employers’ liability insurance.

Does all risk insurance cover poor workmanship?

Contractors All Risk Insurance will cover any damage caused to the building works, for example if there is an unexpected flood, storm, or fire, it will even cover for poor workmanship.

Who should be the named insured on a builders risk policy?

The Owner, Contractor, and Subcontractors of Every Tier (generic) should be included on the policy as named insureds. Some insurers will only include the Owner as the named insured, preferring to use the terms “additional insureds” or “additional named insureds” to add parties other than the Owner to the policy.

Is it illegal not to have professional indemnity insurance?

Is professional indemnity insurance required by law? It is not a legal requirement, but most professional institutes and associations require their members to have some form of professional indemnity insurance and regulate this through their rules and regulations.

What insurance do I need for employees?

Employers’ liability insurance is a legal requirement for the majority of businesses that employ staff, no matter what size. The policy can cover the cost of compensation should an employee incur an injury or illness as a result of work they are carrying out on behalf of the business.