General Liability Insurance

Normally, it is difficult for businesses or general contractors to work without general liability insurance. General liability insurance is intended to guard operators and owners of companies from claims that may come from a broad spectrum of sources. These exposures could be just about anything, including liability engendered by accidents from your operations contractual liability, products manufactured by you to name a few examples.

The liability you select, whether it is one, two, three, five million dollars or more, determines the cost of general liability insurance. Also factored into the rates is the kind of work undertaken, gross receipts and total payroll expenses. Similar to automobile insurance,when it comes to general liability insurance, you will first have to make a down payment and then follow it up with installments. Before buying general liability insurance, it is best to compare the quotes available in the market.

It is the business owner’s or general contractor’s job to make sure that the people working under him/her are covered by an insurance policy. If for example, a person who is not a part of the project gets injured, the injured person’s lawyer can target just about anyone involved in the project. The more individuals that are involved, the greater the chances of a successful lawsuit.