BuildingAndShield-outline Product, coverage, discounts, insurance terms, definitions, and other descriptions are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in your individual insurance contracts, policies, and/or declaration pages from Nationwide-affiliated underwriting companies, which are controlling. Such products, coverages, terms, and discounts may vary by state and exclusions may apply.
Bodily Injury: This insurance type will provide your business with coverage should you or one of your employees cause injury or death to a third party person while working. It will cover all medical care for the injured party and will cover your legal fees should you be sued. When Should You Get General Liability Insurance? Right away. Even if you don't own commercial property, you are still exposed to many liability risks. For Example… If you are working on a client's home and something falls on your client, causing them to be seriously injured. General Liability Insurance would cover the medical expenses and possible legal fees that you will accrue as a result of that injury. Other Things to Note… Contract Liability will provide you with coverage should an issue with the contract arise. It is not included in every General Liability policy, so you should verify that you have this coverage with your insurer. Business Owners Policy Bundle Up: Often times, contractors General Liability Insurance coverages can be packaged together to create a Business Owner's Policy.
A mistake can impinge a corporate client's business or a household's functioning. In addition, electricians may work with faulty wiring and electrical charges that can give them severe shock or worse. They also work in tight places and at heights. They may require coverage focused on their profession. As another example, excavation contractors operate heavy machinery, and their work may take them close to buried cables or power and sewer lines. A wrong move or inaccurate blueprint may result in an accident. Plumbers also frequently address emergencies and work not only with dangerous flood conditions but gas lines. These professions also need policies that account for the situations — which aren't typical in other industries — that they regularly face. Company size Do you run a larger business that relies on multiple individuals? If your contracting business hires sub-contractors, that can affect the dollar amount of your policy coverage. You'll want to make certain all sub-contractors you engage are covered by your policy.
Evidence of professional indemnity insurance is sometimes required by clients before they will agree to work with you, particularly if they're a local authority, so it makes sense to have cover in place if you are self-employed. We cannot offer professional indemnity insurance to all trades. Visit our professional indemnity insurance to find out if we can cover your business. Public liability With public liability you're covered for the legal fees and costs you're required to pay if anyone becomes injured on your premises or you damage their property. For example, if a client were to trip over your projector lead when you're giving a presentation, or if you spill coffee on their laptop and it breaks, public liability insurance would cover this. We can offer cover from £1 million to £10 million. Employers' liability If you employ one or more people, you are required by law to have employers' liability insurance. Employers' liability covers you if an employee becomes ill or is injured because of the work they do for you.
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