Liability Insurance For Construction In Arizona

Liability Insurance For Construction In Arizona

Who Should Have Liability Insurance?

Anyone involved with residential or commercial building projects should protect themselves financially with adequate insurance coverage from a quality company with knowledgeable agents. Liability insurance for construction in Arizona is necessary for people working in different careers, including

• Architects
• Electricians
• Plumbers
• Forklift Drivers
• Carpenters

Individuals who construct bridges, buildings or highways should never assume that they have sufficient insurance coverage from an employer. In most cases, liability insurance for construction in Arizona is the responsibility of each contractor. Failure to protect your business and personal assets from lawsuits concerning charges of negligence can lead to financial ruin for professionals.

What is the Purpose of Liability Insurance?

Liability insurance for construction in Arizona has several purposes such as preventing a loss of a business due to a lawsuit. In addition, in many geographic locations failure to have the proper types of insurance coverage can lead to fines for contractors. This is because many contractors hire employees who need financial protection if an injury occurs while on-the-job. At the same time, someone passing by a construction project can incur an injury, leading to a lawsuit for damages to pay for medical bills and lost wages. A lawsuit for injuries can happen because of negligence due to using equipment the wrong way or making an error during the construction process.

How Much Liability Insurance Does Someone Need?

The amount of liability insurance needed for construction in Arizona varies for each contractor depending on several factors such as the size and cost of the project. Important things to consider are how many employers are working on a project, leading to more chances of someone incurring an injury. While an architect typically spends less time on-site at a building they have designed, they are still culpable for damages in many cases. Liability lawsuits against architects can occur when they made a mistake in a blueprint that leads to an injury of a construction worker or a building’s occupant. Lawsuits against a contractor are possible while a project is in the process of being built or several years later due to an injury. A knowledgeable insurance agent is the best person to analyze the amount of liability insurance for construction in Arizona that you need.

Where Can a Contractor Get Insurance Coverage?

There are numerous insurance companies that provide specialized liability insurance for construction in Arizona. An agent will carefully consider the risks involved by the contractor’s type of work to determine the best plan. A contractor with employees working at high levels such as roofs must pay more for a policy than an architect. Having financial coverage of millions of dollars is quite common, but the cost of a policy is divided with monthly installments over an entire year. An insurance carrier will customize a policy to include the coverage required by a region or occupation. Policies can include coverage for fire, smoke or water damage in addition to paying for medical bills.

Gary Hanson
Professional Insurance Strategies, LLC
6708 W. Bethany Home Rd
Glendale, AZ 85301
623-551-6716 Fax

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