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Contractor Liability
insurance:
It is a state requirement
for most contractors. Many
contractors require general
contractor liability
insurance limits of $1
million in order to work on
a project.
Worker's compensation
insurance: Contractors with
employees are required to
obtain worker's compensation
insurance.
Additional coverage:
Many private companies
require contractors working
onsite to get additional
coverage, especially if
there are flammable
substances or other
hazardous materials on the
job site.
Certificate of
Insurance:
Most companies or
organizations will expect to
see at least one Certificate
of Insurance, proving that
the contractor has current
and appropriate insurance
coverage that satisfies the
company's individual risk
management policy.
Commercial auto
insurance:
Some companies also
require commercial auto
insurance coverage to exceed
the amount required by law,
which transfer liability for
bodily and material harm to
the contractor.
Medical Payments
coverage:
Because you're
essentially self-employed,
you may want to consider
adding extra Medical
Payments coverage to your
general contractor
insurance, which can help
defray the high cost of
medical bills incurred as a
result of an accident. |
