Ohio Contractor Insurance – Liability Coverage for Contractors 101
By: Jim Zuccaro
If you are a contractor here in the Buckeye state and you don’t have liability coverage, you are opening yourself up to an insanely huge amount of liability that you seriously do not want to hold. If you don’t understand the purpose of liability coverage, then that is a good place to start. Ohio contractor insurance begins with liability coverage because if anything goes wrong on a job site, it’s your fault. Even if it’s not really your fault, the fault lies on your company. So the liability coverage is there to protect you and your business in the event that something would happen.
There is a huge amount of misconception and misunderstanding about builder’s risk coverage and Ohio contractor insurance for general liability. Builder’s risk is more of a property coverage. It covers property that is being worked on for theft and damages. Next you have your general liability coverage, and this covers a lot of things that are due to your work, but somewhat out of your control. For example, someone is on the site of construction and falls down a flight of stairs in the home. Perhaps a child is playing on site at night and falls into a ditch. This also could be an issue that liability coverage would respond to. You never can tell when some of these issues could occur and how they might impact your business.
There’s even more to think about when it comes to Ohio contractor insurance. Things like libel and slander can also be considered when it comes to general liability. It really can be just about anything. Even something like advertising injury or property damage to others is encompassed with general liability insurance for contractors. With populations nearing 11.5 million here in the Buckeye state, it’s no wonder contractors need to protect themselves and their businesses from lawsuits, some of which could be fraudulent.
Getting general liability insurance is absolutely essential for any contractor in the state of Ohio. Getting your Ohio contractor insurance should include this type of coverage, and your insurance agent should be recommending it to you. If they are not, you should strongly consider getting a new agent. General liability insurance is an essential ingredient to any well protected, successful contractor’s business and should not go unpurchased. Find out more about what a general liability policy covers by talking to a qualified agent. You’ll be glad you did.
Jim recommends visiting this updated site about Ohio Business Insurance information and coverage options available.
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