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All You Ever Wanted to Know About Insurance

Why General Contractor Insurance? Because Accidents do Occur!

If you are a general contractor, you know that you are exposed to so many risks. The following highlight actual insurance claims that could happen to anyone in the business.

Two Insurance Claim Scenarios

  • 1. NJ Bodily Injury Insurance
    Mike was a general contractor that employed a masonry contractor, named Tom, to construct a wall surrounding the front part of a recently built dwelling. In the course of work, a stone that was intended for the wall remained on the adjoining sidewalk. It didn’t take long for someone passing by to trip on the stone. The injured man incurred a fractured ankle. Associated medical bills totaled $7,500. The injured man sued Tom, the masonry contractor, for negligence and Mike, the general contractor, for failure to ensure the maintenance of a clear and safe walkway. Tom’s insurance disbursed $7,500 and Mike’s insurance paid $5,000.

    RELATED: improved coverage for the artisan contractor

  • 2. NY Property Damage Insurance
    Sammy was a general contractor that hired a roofing contractor to redo the roof of an office building. After the original roof was taken off, a sudden thunderstorm began. Ensuing property damage resulted in $15,000 repair work. Because the roofing contractor’s insurance was terminated 2 days before, without any renewal, Sammy’s general contractor insurance was required to pay the entire $15,000.

For more on General Contractor Insurance and how it can be tailored to fit your needs, speak to an experienced independent insurance agency with a wide network of leading carriers.

PRIME Insurance is a 3-generation family-run independent agency that has won the admiration of the industry. We’ve been presented with numerous awards and been appointed to conduct direct business with more than 40 of the leading companies - big names such as ACE, ASI, ASSURANT, CHUBB, FOREMOST, Liberty Mutual, MetLife, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and more. With over 10,000 satisfied customers, we benefit policyholders by reviewing current coverage, as well as by shopping our wide network to locate tailored coverage at competitively lowest quotes.

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Summary: There’s a reason why general contractors need tailored insurance coverage. These related claims explain why. 


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