Are You An Independent Contractor? Why You Absolutely Need Contractor Liability Insurance

Posted on: 9 August 2018

If you're an independent contractor, you may be thinking that you don't need commercial insurance for your business. Unfortunately, nothing could be farther from the truth. You may be an independent contractor, but you still need the protection that commercial insurance can provide. Contractor liability insurance is one type of commercial insurance that is particularly important. Whether you're a landscape architect, a plumber, or a house painter, here are just four of the reasons why you need contractor liability insurance.

Provides Protection for Your Clients

When people hire independent contractors, they need to know that the work they'll be having done will meet their satisfaction. They also need to know that they'll have a way to be compensated for their losses should they not be satisfied with the final outcome. Contractor liability insurance provides that protection that your clients will want.

Provides Protection Against Lawsuits

You never know when mishaps are going to occur during a project. When those accidents do happen, you need to know that your business is protected against lawsuits. Without insurance, your business could be destroyed with just one lawsuit, especially if serious injuries resulted from the accident. To make sure that your business isn't wiped out by a lawsuit, you need to have contractor liability insurance.

Provides Protection for Your Company Car

When you're working, your company car is an extension of your company. That means that your company is liable for any accidents you cause while driving your company car. If you don't have insurance that provides coverage for your company car, your personal insurance will be billed for the damage. If you don't have enough coverage to take care of the damage and injuries, your personal property and your business could be in jeopardy. Make sure you have the protection you need when you're driving your company car by ensuring you have adequate liability insurance.

Provides Protection for Your Injuries

When you're an independent contractor, you don't have an employer to cover your on-the-job injuries. As an independent contractor, you're responsible for your own injuries. That's where contractor liability insurance comes in handy. Your liability insurance will provide you with the coverage you need to take care of any on-the-job injuries you sustain.

If you're an independent contractor, you can't afford to take chances. Talk to an insurance agent near you about adding contractor liability insurance to your coverage as soon as possible.