As a contractor, you face a variety of different situations on a daily basis as part of your job. This variety of different situations can open you up to a number of risks that have the potential to cause massive financial damage. Liability issues in particular can be extremely costly and can cause you to have to pay thousands of dollars in legal fees and settlements. Luckily, general liability insurance for contractors can help.
What Is General Liability Insurance?
General liability insurance, often referred to as business liability insurance is a type of insurance coverage that can protect you from a variety of claims. These claims can include things like bodily injury claims, property damage claims, and personal injury claims.
Why Do Contractors Need General Liability Insurance?
Contractors are exposed to a variety of liability risks while working. If something unexpectedly goes wrong or you make a mistake, you could have a lawsuit on your hands that you may not be able to handle without insurance.
How Much Does General Liability Insurance Cost?
The average cost for general liability insurance is $30 a month. However, you could end up paying more or less than this because the cost of general liability insurance typically depends on the specifics of your contracting business.
Being a contractor can be risky and difficult. Having good general liability insurance can make all the difference.