Contractors General Liability Insurance in California is available whether you're a roofer, plumber, general contractor, subcontractor, electrician, or a carpenter.
As a contractor it is important to maintain contractors insurance to cover work during and after your completion. If you believe that you will not get sued, because you are doing your work properly, think again.
Claims Scenario:
A plumbing company installs plumbing in a home. A year later, one of the pipes breaks, causing a leak. Subsequently, the homeowners insurance company pays for the repairs. However, during the investigation the insurance company discovers that the work was not done properly. Now, in order to recoup their loss. The insurance companies subrogation department files a law suit in a California court against the plumbing company. Despite the insurance companies allegations, the plumbing company must now appear in court and proof their innocence. The cost incurred by the defense would be the greatest expense of all. Even if it's proven that there was no fault on the part of the plumbing company.
When considering whether or not to have insurance, consider the claims scenario above.
Available Contractors Insurance Coverage:
Eligible Contractors Classes:
Calco Commercial Insurance is the leading provider of low cost contractors insurance in California. The policies that we provide are examined for accuracy and the best rate. Despite the increases in premiums with other insurance companies. We have always negotiated lower pricing and assisted our contractor clients in obtaining lower contractors quotes.
Get an online contractors insurance quote or call and speak to our contractors program specialists at (877) 225-2699.
Will your Business Owners Insurance Policy cover you if you error in a professional service that you provide?
That is a question that you should ask your broker and verify with your insurance company. A Business Owners Insurance Policy is not designed to cover your errors and omissions that you make while providing a professional service. BOP\'s are typically designed to provide coverage if a customer injures themselves, or if there is fire. If you are a consultant your exposure is the professional advise that you provide. You would leave yourself uninsured if you do not have E&O Insurance. Since your exposure is the professional service that you provide you are more likely to be sued for performance than a slip and fall injury.
Buy errors and omissions insurance not by price but by coverage. It would be foolish to purchase E&O Insurance from a broker who does not fully understand the policy language of the policy he is proposing.
The following is a list of items that you should ask for when choosing a Professional Liability Insurance or E&O insurance.
· Does the professional liability (E&O) policy offer a broad definition of Insured
· Broad Definition of Claims
· Claims Made or Occurrence
· Defense cost outside of limits
· Broad definition of Loss (to include punitive/exemplary damages)
· Risk management/loss control services
· Includes Coverage for independent consultants
· Prior Acts coverage
· Definition of services customized to policy holder’s operations
Calco Commercial Insurance can provide accurate, detailed and instant E&O Insurance quotes online or by phone (877) 225-2699
About the Author:Sarkis Kalazhyan is the principal of Calco Commercial Insurance
Article Source: http://www.articlesbase.com/insurance-articles/errors-and-omissions-insurance-eo-778218.html
