contractor insurance

Albany General Liability Insurance

Like with any side of the business, health and safety precautions must be taken when conducting home repair or renovation projects. Contractor General Liability Insurance Albany, NY is a solution that guarantees protection against third-party liability claims by providing coverage for your worker’s compensation policies and contractor’s license.

Who Needs Contractor General Liability Insurance Albany, NY?

If you are operating as a contractor in Albany, you need to be aware of the risks that come with doing business. Contractor General Liability Insurance can help protect you from any financial damage that could occur if something goes wrong while you’re working on a project.

Contractor liability insurance can cover accidents that occur during the course of your work, regardless of who was at fault. This type of coverage is mandatory for contractors in New York state, and it can also protect you from lawsuits filed by third parties who believe they were negatively impacted by your work.

Finding the right contractor general liability insurance policy is essential for protecting yourself and your business. Talk to an agent at an insurance company to get started, and be sure to research all the options available to you before making a decision.

What Types of Coverage Do Contractor General Liability Insurance Albany, NY Offer?

If you operate a business in Albany, New York, and are afraid of being sued, contractor general liability insurance is a good way to protect yourself. Contractor general liability insurance will cover you for any legal expenses that may arise as a result of any claims filed against your business. Typical coverage includes:

• Property damage: This coverage will cover you for damage done to the property of another person as a result of your negligence.

• Personal injury: This coverage will help you cover the costs associated with personal injuries sustained by someone who was affected by your negligence.

• Defective products: This coverage will help you cover the costs associated with defective products that were sold or used by your business.

Some factors to consider when choosing contractor general liability insurance include the amount of coverage that is necessary and the risk profile of your business.

How to get cheap contractor general liability insurance Albany, NY

If you’re in the business of contracting, it’s a good idea to get general liability insurance. This coverage will protect you from lawsuits stemming from mistakes made on your job site. There are a few ways to get cheap contractor general liability insurance in Albany, NY. You can contact your local insurers directly or through a broker. The disadvantage of contacting insurers directly is that you may not be able to get the best price. Brokers can offer discounts if you buy multiple policies from them.

Expands to include claims coverage options

With so many different types of businesses and entrepreneurs out there, it can be hard to know what type of contractor liability insurance is right for you.

At Allstate, we understand that different business owners have different risks and needs when it comes to contractor liability insurance. That’s why we offer a variety of coverage options, including general contractor liability insurance, which covers general contractors and subcontractors in the event they are sued or held liable for damages.

Allstate offers two types of general contractor liability insurance: commercial general liability policy (CGL policy) and professional engineer liability policy (PELP policy).

A CGL policy covers a general contractor and all subcontractors for $1 million per occurrence, with $5 million in total covered losses. A PELP policy covers only professionals – such as engineers – for $5 million per occurrence, with $10 million in total covered losses.

Both policies include coverages for legal expenses, advertising expenses, lost profits due to suspension or cancellation of contracts, workers’ compensation premiums, and loss of data due to virus attacks or computer sabotage. And both policies include a broad range of exclusions, such as direct liabilities from the contractors’ own acts or omissions (liability that “would otherwise be lawfully imposed on sponsors under assumed risk contracts”), judgments obtained against the insured without involvement by the insured, claims brought by people acting in bad faith.