What is Contractors’ General Liability?

Also known as contractors’ business liability insurance, a general liability policy provides financial protection against the most common business claims. It is the standard coverage builders and tradesmen turn to when something goes wrong at the premises or a job site.

Why do I need it?

Business Protection – The primary purpose of contractors’ general liability is to defend businesses against lawsuits that arise from the following:

• Liability From Accidents
• Contractual Liability
• Products Made by The Insured
• Liability From Workers

Company Compliance – Various state licensing boards and project owners require a valid certificate of insurance before commencing operations.
Marketing Benefits – Providing evidence of liability insurance ensures prospective clients that you take responsibility for your operations and products, giving your business a winning edge over a competing estimate to secure a bid.
Property Landlords – Most commercial leasing companies require business owners to provide proof of adequate general liability coverage to obtain a lease.

What does it Cover?

The policy responds by covering the cost of your legal defense and damages up to the policy limits if you are liable for causing bodily injury or property damage to a third party.

It protects business owners from unexpected expenses relating to common incidents, such as:

Bodily Injury – Claims arising from bodily injury to a third party.
Property Damage – Claims arising from property damage to a third party.
Products/Completed Operations – Claims arising from business products or completed operations away from your location.
Personal/Advertising Injury – Claims arising from infringement of a third-parties reputation or intellectual rights.
Medical Payments – Claims arising from injuries sustained by a third party (non-employee) due to an incident on your premises or exposure to business operations.

What is a Certificate of Insurance?

A certificate of insurance (COI) is an official document that verifies a general liability policy’s existence, coverages, and limits.

What is an Additional Insured?

An additional insured (AI) refers to a person or organization other than the policyholder covered by an insurance policy.

It is the most common endorsement requested on the standard general liability policy.

How much is it?

General liability rates are calculated by the work performed, claims history, territory, and prior or continuous coverage.

Our team of experts will shop your quote with the nation’s leading wholesalers until we find the best coverage that fits your budget and business needs.

What are my Payment Options?

Our programs offer various payment options when purchasing your general liability policy.

Full Payment Option – Pay the premium with one payment.
Direct Bill Option – Pay the monthly premium to the carrier directly.
Financing Option – Pay the monthly premium through a finance company.

Why choose Fairbanks Insurance Brokers?

At Fairbanks Insurance Brokers, our expertise focuses solely on the construction industry.

Our relationships with the nation’s top insurance providers have granted us unprecedented access to the most competitive insurers, resulting in the lowest rates for residential or commercial risks.