Advanced Insurance Services

G eneral liability insurance claim example scenario: An electrical contractor with 30 years of experience and zero claims was picked to install the commercial lighting on one of the largest new warehouses in town. Overnight the warehouse burned completely down and the fire was ultimately caused by the electrical contractors work. Because the electrician had gone almost 30 years without a claim or injury he choose to let his general liability insurance policy lapse earlier in the year. His first work related mistake had to be paid out of pocket which included legal cost and extensive property damage. This scenario shows that the warehouse owner should have required and verified coverage and the electrician should not have let his policy lapse while still preforming work.

Here are some sample contractor general liability insurance policy costs: A-Rated Carrier's with $1,000,000 limits and free additional insureds: 1) NJ Stone & Tile work, 1 Owner & $25K insured sub-cost $715 for the entire year. 2) Texas remodeler, 3 employees, $200k in gross receipts $899 for the entire year. 3)OK Roofer doing new roofing and remodeling, $2,915 for the year. .