Construction is one of the most complex industries for operators to flourish in, partly because of the nature of financing large-scale development projects, but also because of its unique reliance on a network of contractors and subcontractors to carry out specialized work in service of those goals. That’s why subcontractor liability insurance is such a vital addition to your coverage. The right insurance policy will not only cover you when you are liable for situations like on-site injuries, it will also help you mitigate the liabilities you are exposed to when others do work on your behalf, all while making it limitations and exclusions easy for you to parse as you figure out how to approach your next big project.
What Goes Into Subcontractor Liability Policies?
If your coverage is going to take care of all the avenues of foreseeable risk that typically show up in construction businesses that rely on subcontractors, you’ll need a few common policy platforms, as well as the customized coverage that reflects your actual assets and business model. As https://www.huntersure.com/ explains:
- Subcontractor-inclusive general liability provisions
- E&O coverage that explicitly includes subcontractor work
In addition to those provisions, experienced insurance agents who understand the construction industry will give you the tools and information you need to work with your subcontractors so you both understand how your insurance coverage works and what you need. Subcontractors still need their own policies, and your coverage will assume that, but an experienced professional will help you understand when their insurance is adequate and when you need to request they carry additional coverage.