Four Options You Have to Protect Yourself Against Liability Exposures for Paperhanging Contractors
If you run or own a small papermaking business, it is almost essential that you have some sort of Paperhanging Contractors Insurance to protect your business assets, your employees, and your customers. Paperhanging as a profession is not one that offers many jobs that do not require heavy lifting or exerting a lot of physical effort. However, there are some types of paperhanging contractors insurance that all paperhangers out there should invest in, regardless of what the specifics of their particular company might be:
* General Liability Insurance Coverage – This is the right type of insurance coverage for anyone who works in the paper industry. This type of coverage will help you be protected if someone gets hurt while working on your project because of their own fault. This includes injuries caused by you, as the owner and the one in charge of the building and its contents. In addition to protecting you, this type of coverage will help cover any other third party as well. This means if there is a damage to their property, or if they are injured while accessing your project, the paperhanger’s insurance will help pay for their medical bills.
* Commercial General Liability Insurance – If you work in an industry that frequently exposes you, your employees, your product’s and/or the building itself to physical contact with customers, then you need to have commercial general liability insurance. This is required in most states if you want to allow your customers to sue you and any of your business partners. Essentially, you can be sued if an individual gets injured while using your product, on your property, because you were negligent. The cost of this coverage will depend heavily on the amount of liability exposure you have, so it would be smart to talk to a commercial insurance agent to discuss the particulars of your policy.
* Workers’ Compensation Insurance – Many contractors mistakenly think they don’t need this type of business insurance coverage because their contractor status will prevent them from getting injured. However, anyone working on construction sites should be aware of workers’ compensation laws and how to file a claim. Even if your primary activity is contracting projects, you should protect yourself. Most importantly, if you have employees that are subject to a lot of physical contact on your property, this type of protection can help you escape liability. Make sure you talk to your state’s workers’ compensation board to get the ins and outs of the statues of limitations for filing claims and making a claim.
There may arise, at some point, that a customer or member of the public gets injured on your property. While the insurance will typically cover these incidents, you may find that the repair costs could be outrageous. This is where commercial liability insurance can be a huge benefit. Although it may not be required, you will want to make sure you have coverage in place so that you are not left holding the bag for repairs.
Paperhanging contractors are exposed to a lot of potential risk. However, by protecting yourself with one of these plans, you can reduce these risks significantly. In addition, it gives you peace of mind that you are adequately protected in the event of unexpected liability exposure. As you can see, you have several options when it comes to protecting yourself against liability exposures.