http://personalveer.com Say it your way. Tue, 10 May 2011 20:08:31 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://personalveer.com/contractor-liability-insurance/ http://personalveer.com/contractor-liability-insurance/#comments Tue, 08 Sep 2009 11:20:22 +0000 whaleadmin http://thekeywordacademy.com/coaching/articles/?p=60944 Contractor liability insurance is basically a mixture of the elements of public liability and professional indemnity. It has an essentially wide coverage. The coverage typically extends to the company the contractor has entered into an agreement with and even to the persons or public who are in the risk of possibly getting injured or harmed accidentally, usually with the contractor’s use of equipment and property. The other inclusions in the cover may also be legal fees, accounting fees and other fees with similar nature which may be incurred as a consequent of risks materialization. As with other kinds of insurance, contractor insurance does not consider paying for a consequence of contractor’s intended negligence and anything that appears to have a reoccurring pattern. It may also be the case that a need for contractor insurance may be necessary after the completion of work. In this sense, it is strongly advised to ensure that insurance coverage extends up to that period as a protection to possible legalities that may subsequently occur. The insurance cover for contractors may offer additional coverage meant to protect the property and equipment, etc. The cost of an insurance purchase depends on the possibility of the contractor getting involved in a lawsuit as far as the project is concerned and the kind of industry the contractor belongs to. Other factors include the financial turnovers the contractor is capable of and the amount of insurance cover necessary.

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