Must General Contractor Insurance Include Inland Marine.
Do you have inland marine insurance? Do you ship goods and products from one place to another? Then you should need this type of insurance. This insurance insures shippers and goods against any loss or damage taken off-site.
However, inland marine insurance protects properties over water. When you consider the need to have this insurance.If you choose to use this type of coverage,Its important to consider the type of business and operations because not all business need to pucharse this insurance.
You also need to inquire from an insurance professional who can make you understand all about inland marine insurance.With all the information gathered you can go ahead and pucharce this insurance.
Why Do You Need Inland Marine Insurance.
If you are a general contactor who often work off-site,then this can be the best insurance you need.Inland marine insurance is important for those contractors or companies who travel from place to place.It is therefore advisable for general contractors to obtain this insurance. Don't use plagiarised sources.Get your custom essay just from $11/page
The insurance help in compesatoin for any accidents that may occur in the work place.It can also compensate damaged properties or stolen equipments.The following are the things that inland marine insurance cover;
- Equipment used by contractors.
- Equipment used in transpotation.
- Properties for mobile equipment.
- Equipment used in communication and networking tools.
- Artwork equipment in communication and networking.
- Transit properties like constractons materials and supplies.
Why do General Contractor need business insurance Insurance?
If you are a manager,in the worksite you are given the madate to supervise the contractors,and if anything bad happens you are help responsible. General contractor Insurance help pay for;
- properties that are damaged.
- Equipments that are damaged.
- bodly injuries.
General Liability Insurance Policy
General contractors are likely to face many risks at their work place.These kind of risk are covered by this policies. The damaged properties and injuries are paid by the General liability insurance policies.The risks covered by the insurance are;
- Accidents caused by falls.
- properties that are damaged by customers.
Accidents Caused By Falls.
A customer may slip and fall at your work place.You could be held responsible for the occurred injury.A person may go ahead and sue you.You are likely to pay for the medical bill.General liability covers the following;
- Places where they settle.
- Bills that paid for medical purposes.
- Money used in court cases.
- Judgement ordered in court.
The employee needs to purchase the workers compensation insurance because this policy does not cover his injuries.
Properties Damaged by Customers
When clients property is damaged the general liability insuarance safeguards the small business.If a client decides to take you to a court because you damaged a certain property, the policy can pay the cost used in court.
As a contractor, working in a certain company you can’t avoid to ignore this kind of insurance. It has many advantages and lots of benefits .Today, inland marine insurance is widely used by many costractors. Get covered today by purchasing inland marine insurane.