All of my subcontractors are Insured, why do I need General Liability Insurance?
I get this question from our General Contractors (GC) who Subcontract out all of their work. It is a good question. Below are a few potential issues that could arise and the importance to have your own quality General Liability Coverage in place to protect your business.
Coverage and defense costs. Accidents do happen no matter how careful we are. General Liability Insurance protects the GC against lawsuits or claims arising from property damage and bodily injury.
Who is liable the Contractor or the Subcontractor: GC’s assume responsibility for the work involved and is considered liable for the actions of their Subcontractor’s; therefore a GC should always ensure the Subcontractor is insured properly. If your Subcontractor purchased limited coverage, that could leave your business exposed to potential liability arising out of their work.
What if your Subcontractor’s policy cancels: You may have received a valid certificate of insurance from your Subcontractor at the beginning of your project but if the policy cancels for any reason and the Subcontractor does not have coverage at the time of loss, you can be held legally liable for actions of the Subcontractor that caused injury or property damage.
What if the Subcontractor’s policy limits are too low to cover a loss: If your Subcontractor has a legitimate policy but has low limits and there are exclusions that do not cover the work being done then you will be responsible for the shortfall. That is why it is crucial for GC’s to have a knowledgeable Insurance Agent that can help protect their business.
A responsible General Contractor takes care and invests in his/her reputation. Protect your business. Call or email us for your free insurance quote!
303-991-7177 | office@ahernagency.com
Even if all your subcontractors have insurance, general liability insurance is still important because their policies may not cover every risk associated with your business. Having your own coverage can help protect you from unexpected claims and financial losses. Similarly, exploring reliable financial resources like mortgageline.ie can help you make more informed decisions about your financial future.
This is a great reminder that having insured subcontractors does not always remove the need for your own general liability coverage. Contractors should also keep an eye on construction workflow delays so projects stay on schedule and unexpected issues do not affect the overall job.
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This is an important point for contractors to understand. Even when subcontractors carry their own insurance, general liability coverage can still protect your business from third-party claims and unexpected risks. Managing business finances wisely also matters, and a CD Ladder calculator can help with planning and comparing different savings strategies.
This is a useful reminder that even when subcontractors carry their own insurance, a contractor can still face risks that require separate protection. Having general liability insurance helps cover claims that may arise from your own business operations and provides an additional layer of financial security. On a different note, those interested in mobile gaming can also explore 2J Bet Game for more information about the platform.