{"id":2840,"date":"2021-06-10T14:04:00","date_gmt":"2021-06-10T14:04:00","guid":{"rendered":"https:\/\/trepryor.com\/blog\/?p=2840"},"modified":"2023-09-07T14:44:16","modified_gmt":"2023-09-07T14:44:16","slug":"why-every-contractor-needs-liability-insurance","status":"publish","type":"post","link":"https:\/\/trepryor.com\/blog\/why-every-contractor-needs-liability-insurance\/","title":{"rendered":"Why Every Contractor Needs Liability Insurance"},"content":{"rendered":"\n

Are you an independent contractor that is just looking to start your business? Maybe you want to take it from a side job to a full-time gig. Bigger projects mean you need employees to help you out. As a contractor, you know better than anyone just how important it is to be reliable. That’s what people want. But what do you know about liability insurance?<\/p>\n\n\n\n

\"Photo<\/figure>\n\n\n\n

As you look to grow your business and make a name for yourself in the industry, it\u2019s important to also think about what you need from a business standpoint to protect yourself and the livelihood of the company. This is where contractor liability insurance comes into play. It might not be something you\u2019ve given much thought to. But you should re-think your stance so you can learn why every contractor does need this type of insurance.<\/p>\n\n\n\n\n\n\n\n

Liability Insurance Protect Your Company and You<\/h2>\n\n\n\n

The number one reason why every contractor needs liability insurance is that it will protect both the company and yourself. If you were to have a claim filed against you, and you don\u2019t have insurance and are found in the wrong, that could spell financial ruin for your company<\/a>. It\u2019s hard, if not impossible, to come back from that, and your name is forever tied to that failed business. <\/p>\n\n\n\n

Independent contractors can be sued for injury, bodily harm, and even property damage. All of which can equal a lot of money in damages. Don’t forget there will also be legal fees to deal with. It\u2019s just not worth taking that risk.<\/p>\n\n\n\n

The State May Require It as Law<\/h2>\n\n\n\n

Depending on what state you’re working in, you may not even have a choice. The law may require liability insurance. There are many states in the country that require it by law, especially in the construction industry. Typically it will be general liability coverage that is required.<\/p>\n\n\n\n

It Adds a Layer of Trust and Reliability to Your Company<\/h2>\n\n\n\n

Having liability insurance coverage also helps to make your business seem more professional<\/a>, trustworthy<\/a>, and reliable. It\u2019s quite common for clients to ask in advance if you have insurance. So you want to be able to assure them that you do and show them proof of coverage. If you don\u2019t have it, that may be all it takes for them to choose another contractor. <\/p>\n\n\n\n

If you don’t have insurance coverage, the clients could actually be the ones held accountable should there be an accident. Obviously, this isn\u2019t exactly attractive from the client\u2019s point of view.<\/p>\n\n\n\n

How Difficult Is It to Get Contractor’s Insurance?<\/h2>\n\n\n\n

If you’re a contractor who is now on the hunt for reasonably priced, yet comprehensive and complete insurance coverage, you may be wondering how difficult of a task this will be. The good news is that you can get your contractor liability insurance<\/a> pretty quickly by accessing an instant quote. A quote through a company like Next Insurance can potentially save you up to 30%. It’s definitely worth your time to investigate what Next Insurance has to offer. <\/p>\n\n\n\n

The best part is that you can get instant proof of insurance, and it can all be done over the phone or online using a US-based advisor that is licensed. What this means is that there\u2019s no reason to put off getting contractor\u2019s insurance simply based on how easy and convenient it is to find and sign up for.<\/p>\n\n\n\n

How Much Will It Cost You?<\/h2>\n\n\n\n

There are some really handy calculators and tools meant to help you figure out how much insurance you need. The others approximate the typical cost of a policy if you want to do the legwork yourself. In general, the cost is based on your payroll, contractor classification, location, subcontractor costs, and gross receipts.<\/p>\n\n\n\n

When it comes to your business and your livelihood, it\u2019s not something you want to take chances and risks with. Playing it safe will help to protect your business. Then you can build a strong and reliable reputation in the field.<\/p>\n","protected":false},"excerpt":{"rendered":"

Are you an independent contractor that is just looking to start your business? Maybe you want to take it from a side job to a full-time gig. Bigger projects mean you need employees to help you out. As a contractor, you know better than anyone just how important it is to be reliable. That’s what […]<\/p>\n","protected":false},"author":1,"featured_media":2775,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[672],"tags":[348],"class_list":["post-2840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-liability-insurance","entry","has-media"],"_links":{"self":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/2840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/comments?post=2840"}],"version-history":[{"count":3,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/2840\/revisions"}],"predecessor-version":[{"id":21471,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/2840\/revisions\/21471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/media\/2775"}],"wp:attachment":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/media?parent=2840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/categories?post=2840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/tags?post=2840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}