Professionals from Multiple IndustriesBusiness owners must take steps to protect their company from claims made against it. If your employee makes a mistake, you may know your business insurance policy is there to help. But, what about hired contractors? And what about vendors?

These groups of people may be vital to your business. They may work with you on a regular basis. However, if they are not full-time employees of your company, your business insurance may not help cover them.

How Do You Protect Your Business From Such Claims?

People who work with your company but are not employees can still be a risk to your organization. That is why it can be valuable to the right professionals to take steps to mitigate risks. Here are a few key things to keep in mind.
  • Require your contractors to have proper insurance themselves. Verify that they at least have professional liability insurance and general liability insurance. This helps to protect your business and customers from mistakes third parties may make.
  • Be sure your contracts with these professionals clearly and specifically outline this insurance coverage. Additionally, contracts should specify who is responsible for damage or claims.
  • Be sure your clients know that a subcontractor does have insurance. You'll want to consider options such as bonds to help reduce the risks involved in hiring these parties.
There are some situations where you may wish to add a contractor to your business insurance plan. These additions are possible in some situations. They can help when you want to protect yourself and the work someone does for you.

Business insurance classifies subcontractors as additional insureds on your plan. Talk to your insurance provider to learn more about what your specific coverage offers. If you are unsure if your contractors have insurance, work with your insurance agent or business attorney to classify the risks.

Don't assume you have ample protection against mistakes that others make. With the right coverage, you'll be content knowing that you are protecting your business.

We are happy to provide you with more information about business insurance. Call Fulton Agency, Inc. at (954) 752-8610 for a free Florida business insurance quote.
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