Construction General Liability Insurance Florida
If you are looking for insurance for your construction business, you’ve probably come across the two most common forms: the claims-made and occurrence-based form. Each one provides a different level of coverage, but they both protect your business. While you can choose between these two forms, occurrence-based insurance is usually the best option for the construction industry. It determines how your policy will respond to any claims, and will pay out the amount of insurance you have in force at the time of the loss.
This insurance protects your business’ assets in the event that someone files a lawsuit against you. Florida construction laws require that general contractors carry a certain amount of coverage, which is usually $300,000 in the case of bodily injury and $50,000 in the case of property damage. A general liability insurance policy will also protect you from damage you may incur to another person’s property or advertisement.
Florida counties have different requirements for contractors. If you’re planning on performing construction work in the state, you’ll need to be registered and hold a certificate from the State of Florida. It is also wise to check the limits of insurance you carry. A general contractor insurance quote will be able to help you choose the right policy.
Contractors should consider getting this type of insurance because it protects them in the event of a lawsuit. It also provides protection against loss and damage caused by weather, vandalism, or non-error-related acts. Because this type of insurance is very broad, it is crucial to make sure that you understand your coverage needs. A good insurance broker will be able to provide a competitive quote for your Construction General Liability Insurance Florida.
Your business is your pride and joy, and you deserve peace of mind. Obtaining contractor’s insurance Florida will protect you from potential financial disaster. This insurance will ensure that your business continues to run smoothly and you can be confident that it is protected. There are many benefits to obtaining this policy for your business.
The cost of general liability insurance varies depending on your business’s size. For a small licensed general contractor, it may cost as little as $500. For larger businesses, the premium will be higher. Premiums are determined based on annual sales, payroll, the number of employees and whether your company uses subcontractors.
A good general liability policy covers accidents that happen on the job site, including property damage, injury to people or damage to property. In addition to this, it also covers tools, equipment, and office property. Subcontractors will also be protected if a project goes wrong. Whether you are working for a homeowner or a construction company, it’s important to protect your assets by carrying general liability insurance.
Construction General Liability Insurance Florida – Get A Quote Now
- Contractor Risk Coverage :
Contractor Risk Coverage is an important part of your construction insurance strategy. Large construction firms need specialized insurance policies to protect themselves from large losses. They buy the same insurance coverage as medium-sized contractors, but they have special needs, such as wrap-ups and OCIPs. If you’re not sure what type of coverage you need, consider contacting an experienced Commercial Risk Advisor. Pascal is an experienced Commercial Risk Broker with expertise in construction. - Contractor Compensation Coverage :
If you own a construction company, you should make sure that you have Contractor Compensation Coverage. In many states, a general contractor is required to carry this insurance in order to provide workers’ compensation to injured workers. Without it, the business would be responsible for the injured employee’s medical bills and lost wages.
- Contractor Installation Coverage :
Contractor installation coverage is a type of insurance that protects you if you are found legally liable for damage to property. This type of coverage covers medical expenses and damages incurred by your employees or customers and extends to legal and court costs. The costs of this insurance vary but can save you money in the long run. - Contractor Tools Coverage :
If you own equipment that you use for your business, you should consider purchasing contractor tools coverage. This type of insurance provides coverage for tools that you already have and any tools you purchase in the future. This type of insurance policy covers any type of equipment, including hand and power tools, including trailers. This type of insurance also covers your tools when they are off your property.