Contractors General Liability Insurance (CGL)

If you are working as an independent contractor in any aspect of the construction industry, you probably already know that you need Independent Contractors Commercial General Liability Insurance (CGL) coverage.

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In fact, many independent contractors are underinsured, simply because they do not know how much liability coverage they need or may be required to have. Independent Contractors General Liability Insurance is in many ways similar to the insurance policies that general contractors may have. General liability insurance coverage with a limit of at least one million dollars is not only recommended, but mandatory for many independent contractors to have. Also, some form of disability insurance for you and all of your hired employees is recommended in case of an injury on the jobsite. In many states, general contractors are not required to provide worker’s compensation or disability insurance coverage for non-payroll employees.

Also, an independent contractors probably need to include commercial auto insurance as well as inland marine insurance if the independent contractor is required to transport their own equipment from job site to job site.

Depending on your business and jobs performed, it may also be a good idea to add professional liability coverage to your independent contractors liability insurance to round out you protection. Professional liability coverage (PL), unlike Contractors General Liability Insurance (CGL), covers you for professional errors and omissions.

If you are working for a general contractor, the issue of bonding may be raised. There are several bonds that may apply to the independent contractor. Subcontractor bonds offer the assurance that the independent contractor will complete the contracted work on schedule and to the satisfaction of the general contractor. The bond premium for these bonds is usually paid by the independent contractor and may in many cases be obtained through the independent contractors insurance broker. Conversely, contract bonds protect the independent contractor from nonpayment on the part of the general contractor, and premiums are paid by the general contractor. Some projects may require independent contractors to carry employee dishonesty bonds or fidelity bonds to protect the general contractor from possible theft of monies or documents.

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