May 6, 2008
What Determines the Cost of Contractor Liability Insurance
The purpose of general contractor liability insurance is to protect the owners and operators of construction businesses from a wide range of liability exposures. These circumstances can include accidents resulting from the property or operations of the insured, contractual liability, products sold by the insured, and projects completed by the insured. The cost for this kind of coverage depends on the amount of liability you are seeking. Other factors that will determine your rate are the kind of work you do, payroll expenses, and gross receipts.