Excavation Liability Insurance California – What You Need to Know
Excavation contractors should consider general liability insurance. This coverage protects them from lawsuits for a variety of expenses, including hospital stays, physical therapy, prescriptions, and lost wages. Without this type of coverage, an injured worker may have to pay for medical bills and other expenses out of pocket, which could prove devastating to both the company and the injured worker. Luckily, there are several ways to obtain coverage, from $700 to $1,500 a year.
General liability coverage protects your business from lawsuits
While general liability insurance is not required by law, many clients, landlords and mortgage companies require this coverage. Having this type of insurance is not only a good idea, it will give you peace of mind knowing that you are covered in the event of a lawsuit. This type of coverage is also useful for covering the costs of defense and court expenses if you ever get sued. However, there are a few things to know before purchasing general liability insurance.
Coverage varies from site to site
If you’re an excavator, you may have many different concerns. The risks of exposing underground water and damaging the ground are obvious, while roofers may suffer an accident while working on the roof. Coverage varies from site to site. And the premiums are going to vary as well. This is why it’s important to have a custom quote. However, you’ll need to know what you need in terms of coverage to avoid overpaying.
Coverage limits vary from policy to policy
Coverage limits vary between policies, but typically cover the cost of defamation and legal defense. Excavation liability insurance in California also covers damage to rented space and property during excavation activities. For a business owner, the policy includes coverage for both buildings and equipment. The policy also pays for business income and extra expenses, including repairing rented space. While premiums vary, these policies are well worth the cost.
Legal defense costs are covered
Excavation liability insurance California provides coverage for damages caused by accidents and incidents during the course of construction. Such coverage can help you avoid legal troubles from escalating out of control, and can cover costs incurred due to defamation lawsuits. This type of insurance also covers rented space, damage caused by weather, vandalism, and fires. It can help you minimize liability risks by covering the costs of lawsuits against you and your business.