Contractors insurance is specialized insurance coverage for home contractors because of the risks involved in the job. Many contractors begin plowing in the winter to supplement income and keep their employees working. They need insurance for this side of the business too. Contractors insurance protects against liability from injury, property damage or damage or injury to a third party, all of which the contractor can be found liable. Contractors insurance also protects against claims for injury or damage caused by the contractor, the plow, or employees of the contractors. This holds true for those contractors who are moving into the plowing business for the winter.
The job, the job site, and plowing are all prone to hazards, accidents or injuries opening up the potential for claims or loss. Contractor insurance covers medical, legal and compensation fees and costs. In the event that there is injury or damage to a third party, contractors insurance also covers this risk.
Negligence, property damage or personal injury of contractors is covered under general liability insurance. General liability insurance will protect you against a lawsuit or cover your loss.
Claims can also be made by clients who believe they have suffered financial loss as a result of your negligence. With the right insurance policy, you are protected here as well even in the case of litigation.