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What is General Liability Insurance for Contractors?

General liability insurance for contractors: workers on a construction site shake hands over blueprint

What is general liability insurance for contractors? Small businesses and operations that hire contractors are at the core of general liability insurance. The protections afforded by the coverage help protect business assets, employees, and contractors themselves.

General liability insurance is a coverage plan that protects against common business risks associated with the work completed by contractors. These risks include property damage, customer injury, and brand degradation. Contractors and small businesses need to possess this insurance to protect against hefty lawsuits. Professionals who may require general liability insurance for contractors include:

  • Carpenters
  • Construction Contractors
  • Electricians
  • HVAC Contractors
  • Landscapers
  • Painters
  • Plumbers
  • Roofers

General Liability Insurance for Contractors in Colorado

The specifics of insurance requirements can vary based on state laws and regulations. General liability insurance for contractors in Colorado may require contractors to hold various types of business insurance. There are many moving pieces for general contractors that require different insurance plans. Whether you work with vehicles or need insurance for roofing companies, there is a plan for you. General liability insurance for contractors in Colorado protects you against property and equipment damages and any injuries that may occur on the job site.

Without this insurance plan, expenses can pile up and place a lot of risk on the contractors. General liability insurance for contractors in Colorado also enables professionals to cover workers’ compensation. The state of Colorado requires workers’ compensation to be available if you have one or more employees.

Moody Insurance Agency works with many industries to provide solutions that meet your needs. General liability insurance for contractors in Colorado is core to our risk management services offerings.

Comprehensive General Liability Insurance for Contractors

Insurance can become overwhelming for businesses as they delegate responsibility and manage their operations. Comprehensive general liability insurance for contractors eases the hassle surrounding insurance plans. Professionals can perform at their best with comprehensive general liability insurance for contractors because they know all their bases are covered legally. An insurance plan with Moody Insurance can provide coverage for:

Builder’s Risk

What is general liability insurance for contractors: construction workers standing on support beams on skyscraper being constructed

When it comes to a construction or building project there are considerable risks and losses that could incur if a project goes awry. Plus, the structures or buildings being erected can be protected before they are completed and provide you with peace of mind. This protection can extend to the property itself that the project rests on.

General Liability

As one of the most common types of commercial insurance, businesses protect against accidents that could happen at any time. The insurance covers instances of employees accidentally harming property or even customers. This plan can be expansive in that it covers many possible risks that other plans cover. Many commercial leases require this form of insurance from businesses.

Loss Control

Safety and risk management are at the heart of loss control. Our team is available to review the operations, procedures, and programs for your business. An analysis of these factors can help determine how to operate more efficiently by identifying weaknesses.

Management Liability

Running a business can be complex and require management at various levels. This coverage helps protect directors, officers, board members, managers, administrators, and the company itself. Risks can arise to these positions regarding lawsuits alleging mismanagement, employee discrimination, or investor fraud. These risks can be mitigated with an efficient plan.

Professional Liability

General contractors manage many deadlines and professionalism is the expectation from clients. Professional liability protects against missing deadlines specified by contracts on the contractor’s side as well as protecting against wrongful evictions on the other business end. These plans safeguard your business and employees.

Surety Bond Service

The surety bonds drafted by Moody Insurance can be customized to your needs and desires to best match your business practices. Our team has worked with the construction industry for years and has expertise across our organization. Connect with banks, CPAs, and attorneys to provide a guarantee for debt obligations.

Workers’ Compensation

General liability insurance for contractors in Colorado: lawyer reviewing worker's compensation paper work with man in arm cast

Workers’ compensation can help pay for medical bills and lost wages for employees who suffer an injury while working. It is mandatory in some states, like Colorado, to have insurance plans that ensure workers’ compensation.

Tools and Equipment

Contractors rely on tools and equipment to perform their work. Risk of theft or damage to tools and equipment could cripple an operation. Insurance for these properties can cover costs to restore or repair so business practices can continue without much delay.

Areas of Comprehensive General Liability Insurance for Contractors

It can be challenging to maintain various insurance plans all at once. Comprehensive general liability insurance for contractors provides an easy solution to bundle multiple legal protection plans into one. General liability insurance for contractors in Colorado allows workers in the Centennial State to feel protected across operating disciplines.

General Liability

This type of insurance protects your business from lawsuits that may arise due to property damage or workplace injuries. More focus can be dedicated to the work at hand with concerns of insurance that are covered by the comprehensive plan. Another risk to protect your business against is slander or libel that can alter client perception. The insurance affords a defense team to combat these claims and ensure that your business standards are maintained.

Commercial Liability

Where and how you conduct your business are valuable to protect. Whether you own or lease your space to operate a business, a commercial insurance plan allows you to continue your operations without distractions to your property or equipment. The same protection applies to the equipment used to conduct your business. Broken or damaged tools and equipment can be repaired or replaced quicker with comprehensive general liability insurance for contractors.

Business Income

A detrimental situation for any business is the inability to operate and conduct its services. Property damage or external circumstances could halt your operations. Comprehensive general liability insurance for contractors can support your business in these times. The loss of income can be covered to an extent and provide you with the time and resources to get things back on track.

Conclusion: What is General Liability Insurance for Contractors

Comprehensive general liability insurance for contractors: legal paper being signed with hard hat on desk

There are many reasons for professionals to be aware of and possess general liability insurance. It serves to protect you and your business from costly lawsuits and damages. Many clients feel reassured knowing their contractors hold these protections. Some states even require particular insurance plans for contractors to operate. These laws can be challenging to juggle among your work, so consult with Moody Insurance for updates on federal and state employment laws.

How Moody Insurance helps Contractors

Answering what is general liability insurance for contractors is no easy feat, but Moody Insurance has the tools and personnel to provide exceptional consultation and service. We work with a wide range of clients and tailor solutions for your needs.

Start the conversation with Moody Insurance today.

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Moody Insurance is here to help provide you with solutions to your personal, business or employee benefits insurance questions. Please fill out the form or call us at 303.824.6600.

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