>Contractor Loss Exposures and Insurance
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Contractors Insurance Loss Exposures
Loss exposures for
contractors are somewhat different from any other type of business.
Contractors either bid for a job or
negotiate a contract with a prospective
client who needs certain type of construction work done. Because of this, the
customer sets the job specification as what needs to be done. Contracting business
is generally not set in one location. The job site changes frequently. While
a contractor may have control over one job site, the employees or subcontractors
may have control over the other job sites concurrently or in series. This range
of activities creates a unique loss exposure for contractor that is different
from most other types of business. A thorough assessment and risk analysis
is essential for any contractor prior to obtaining any
contractors insurance. Safepro
contractors’ insurance specialists can assist you with your contracting
insurance needs and analysis.
and commercial general liability are the two most procured and necessary
types of insurance for contractors.