Contractors provide a crucial service in the construction industry. As a contractor, you know that construction projects can’t be completed without your services. Insuring your business is crucially important. Because the service you provide is so necessary, there are specific types of insurance for contractors in Clifton, New Jersey.
General Commercial Liability
This type of insurance policy is fundamental for any business. It covers the basics of operating a construction company. If non-employee bystanders are injured due to your work or their property is damaged during the construction project you are overseeing, this type of insurance policy will cover any impending legal settlements. This will keep more money available for completion of your project.
Employment Practices Liability
Every contractor needs employees, but maintaining those employees can be complicated. If someone should perceive your hiring or firing practices to be suspect, they could sue you for damages. Employment practices liability insurance coverage has your back during any such lawsuit. This type of insurance will pay out for any settlements or damages incurred. It’s important to cover all your bases when purchasing insurance. You wouldn’t want to be caught without come crucial coverage that can save money for you and your project.
Knowing that your business will be properly compensated in the event of an accident or a lawsuit is very important. These types of policies can keep your business up and running through even the most dramatic circumstances. Insurance for contractors in Clifton, New Jersey is a must-have for anyone in your line of work.