Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out

The Importance of New Jersey Contractors Insurance

VIEWS: 8 PAGES: 2

There are quite a handful of reasons that make New Jersey contractors insurance very important and relevant to workers.

More Info
									               The Importance of New Jersey Contractors Insurance

There are quite a handful of reasons that make New Jersey contractors insurance very
important and relevant to workers. While performing their job responsibilities,
contractors are exposing themselves to various risks that are financial in nature. In
addition to that, they are also exposed to personal injury and accidental lawsuits.
There is a way to minimize these risks. Independent contractors such as roofers,
electricians and plumbers have the option to avail and purchase an insurance policy
that can cover the costs in cases of unavoidable circumstances in which they are being
sued for. Examples of such circumstances are damage to a property, accident and
various injuries.

As a general rule in order to contract for the federal government including some states
and local governments such as New Jersey, contractors insurance is a must. A
contractor insurance policy in a macro overview is granted in order to cover the
person as well as their customer or client who is directly affected by the service of the
contractor. This policy actually covers accidental damages to the property, tools and
equipments. Moreover, it also serves as a protection from the costs, both medical and
legal, which is caused by a third party.

However, New Jersey contractors insurance has its limitations in terms of coverage.
There are two most common areas wherein contractor insurance will most likely not
extend its coverage. The first one is negligence which is secondary to a deliberate act;
and the second one is actions and occurrences that have a continuous pattern
secondary to unprofessionalism and poor work output. For the second one, the insurer
is required to present proofs and evidences that support such claim that a pattern truly
exists prior to denial of claims. Still, despite the limitations, contractors insurance is
highly essential for the protection of independent contractors and contracting
companies as well as the ones who are directly impacted by their jobs and services.

Through a New Jersey Contractors Insurance policy, contractors can save themselves
from the anxiety and stress brought about by a personal injury or accidental damage to
a certain property. As a result, they can focus more on their jobs and responsibilities
as they continue to provide the highest quality services possible to their clients and
customers.

There are many companies in New Jersey that offer New Jersey Contractors
Insurance. There are also different policies available that would suit specific needs
and requirements. It is up to the company or independent contractor to decide on
which one would best meet his or her specific needs or the particular demands of his
or her job. This, ideally, depend on the nature of work and other relevant factors.
Contractors insurance coverage may include (but not limited to) the following;
Workers Compensation Insurance, General Liability Insurance, Builders Risk, Bonds
- License Permit, Commercial Auto, Heavy Equipment and Hand Tools, and Life and
Health Insurance.

Building homes, doing fieldwork, having a high-risk job, or working in a construction
site - these are just some of the jobs can expose the worker to potential harms,
accidents and injuries. General contractors, sub-contractors and independent
contractors must protect themselves with New Jersey Contractors Insurance coverage
Garry Hunt is an insurance agent in www.insurance-nj.com one of the top-most
Landscaping Insurance. The agency offers various insurance solutions that include
New Jersey Insurance Agency,contractor insurance and others.

This article has been taken from http://insurancenj.blog.com/2012/11/20/the-
importance-of-new-jersey-contractors-insurance/

								
To top