Car Insurance Ny Is Just One Protection Contractors Need

Car Insurance Ny Is Just One Protection Contractors Need

Insurance policies are necessary expenses for all businesses and professions, especially contractors. The number one goal of any business is to stay opened and operating regardless of circumstances; insurance policies provide this opportunity. Car insurance ny is just one of the insurance coverage needed to protect contractors. Commercial auto and truck insurance in New York State requires no-fault insurance coverage designed to protect people injured in auto accidents with immediate medical treatment. Completing the package of insurance contractors need is commercial general liability, errors and omissions, workers comp, insurance on expensive equipment and tools and bonds when required.

Car insurance ny protects the contractor and his business when there is an accident. New York is a no-fault state and requires people injured in an automobile accident be given immediate medical treatment and compensation for any wages lost. This insurance policy is called personal injury protection (PIP) and does not allow injury lawsuits to be filed until the limits of this have been exhausted. Collision and comprehensive provisions of car insurance ny repair or replace vehicles damaged. Contractors need to understand commercial auto and truck insurance policies so they get the coverage they need.

Commercial general liability insurance protects the contractor and the company against claims of damage caused during the normal course of business. This wonderful insurance policy covers damages or jury awards up to the maximum limit and the legal costs to defend. The legal defense fund provides competent, experienced attorneys who understand the contractor's business and know how to guard against all claims justified or unjustified. This saves the contractor time in locating a good attorney and money for legal defenses and legal expenses.

Errors and omissions insurance for contractors protects against a financial loss due to negligence, errors or omissions. If the insurance is issued in a business name, the contractor, employees, partners, executive officer and directors are covered under the policy. Even diligent contractors working by themselves who know what they are doing, how to do it and do it carefully can have a problem. Messages may not be delivered to the right people, correspondence gets lost and e-mail ends up in cyberspace keeping important information from being transmitted and acted on in time.

Contractors with employees carry Worker's Compensation to protect themselves against medical bills if an accident happens and legal consequences as this is required by law. Expensive tools and equipment are insured against loss or theft. Performance bonds are standard procedure in many bid processes and obtained when required.

Car insurance ny is an important part of the complete insurance package designed to protect contractors and keep contractors working when unfortunate events occur. Reviewing this policy periodically to make sure adequate limits of insurance are carried protects the company and the owner.

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