Insurance policies are certainly a necessary expense for any business, especially contractors. The main goal for any business is staying open and in operation regardless of the circumstances and the right insurance coverage provides this opportunity. One insurance coverage that is needed in order to protect contractors is car insurance NY. Commercial vehicle insurance in the state of New York requires no-fault coverage which is designed to provide protection to anyone injured in a vehicle accident. Other types of insurance that is necessary for contractors would include commercial general liability coverage, workers comp, errors and omissions as well as insurance covering any expensive tools and equipment and bonds if required. A contractor can protect his business in the event of an accident with car insurance NY. This insurance policy will be a personal injury protection or PIP, policy which will not allow a lawsuit for injury to be brought until the limits in the insurance policy have been completely exhausted. Car insurance NY also offers collision and comprehensive coverage which will either repair or replace a vehicle that is damaged.
Commercial general liability policies help protect the contractor as well as the company from claims arising from damage caused as the result of normal business.
Errors and omissions coverage is important for contractors because it protects them from financial loss as a result of errors, omissions or negligence. Even the best and most diligent contractors can end up having a problem.
Contractors who have employees will be required to carry Workers Compensation insurance in order to protect themselves if an employee is injured during the course of their normal work.
Car insurance NY provides a very important part of the insurance package aimed at protecting contractors and keeping them working in the event of an unfortunate occurrence.
