As a contractor, you’re aware of the need to carry adequate insurance coverage. After all, it’s probably impossible to become licensed without having coverages such as workers’ compensation and general liability insurance. While those two may make the most headlines, there are other key coverages that you should plan to include in your policy. Below are two more that you should know about.
If you’re going to be doing any kind of design work, then you’ll want to include professional liability insurance in your policy. If your design leads to flawed construction or if your client doesn’t think your design lived up to your contract and decides to file a lawsuit, your professional liability policy will be available to cover your expenses related to the case.
The contractor’s pollution liability is as critical coverage as any. Depending on your insurance policy, it may be included in your general liability coverage. If not, you should purchase it separately as it protects you against lawsuits claiming that pollution you caused led to a third-party suffering an injury, illness or property damage, as explained by the experts at Northstar Insurance.
As you conduct your search and read through the variety of coverage options, don’t underestimate the importance of professional and pollution liability coverages. Working with an experienced agent will help to ensure that you build a complete policy that protects your business, people and property.