Common Professions That Require Contractor Liability Insurance
When you are starting a business, there are several forms of insurance that you should consider getting, such as contractor liability insurance. You will need to find out what type of insurance will be suitable for you to make sure that you are adequately covered.
If you provide consulting advice as a contractor, you may need contractor liability insurance. You may have to worry about damages your client faces as a result of errors and omissions. For example, your client might suffer damages because of recommendations that you made. For example, if you are a personal trainer, you may need this insurance for if a client injures himself or herself.
If you serve food or beverages at functions, you might be surprised at how you may need contractor liability insurance to cover you for any damages suffered. For example, if someone becomes ill because of a beverage served, you may be found liable. This might be a problem for professional caterers and chefs.
Injuries and Property Damage
The most common reasons for why you might need contractor liability insurance is when you are working with equipment that may lead to injuries or property damage. You will need to be concerned about damage and injuries that can result from the incorrect use of machinery. You will also have to worry about machinery that is defective and the risks of compressed gas.
When someone becomes injured, you will need sufficient liability insurance to cover medical expenses. An injury can lead to long-term expenses that are difficult to predict. Typically, you will need contractor liability insurance if you are a repairman, horse or dog trainer, independent construction contractor, house or carpet cleaner or even an independent hair stylist. Even something as simple as cutting someone's hair can lead to an injury, and you may need contractor's insurance to ensure that you are covered.
You may also want to obtain contractor's equipment insurance. While your equipment might cause damage to someone else's property, your equipment will not be covered unless you also have contractor's equipment insurance. These insurance providers will typically pay for the depreciated value of the equipment rather than the original value.
When you are going to perform an installation of something very expensive, such as a bathtub, you may want to carry installation coverage. Then, if the bathtub becomes damaged, you will be compensated for damages.
For more information, contact a company like Northeast Insurance Agency.