Mostly all companies are required to maintain their Business Liability Insurance policies in place to safeguard the company's interests, as well as for their individual employees. If any employee gets injured while working on the company’s premises, he can easily hold the company liable for the loss. Also, the clients of your company too, may hold you responsible if any problem arises as a result of the work that your company did for them.
For maintaining insurance, construction companies too, are no exception. In fact, the construction companies are more exposed to much greater risks than in any other type of businesses. If your company is making a commercial or any residential building, during the entire construction process, anyone can sustain injuries or even have a fatal accident. Also , if the client for whom your company is constructing a building, finds flaws with the quality of work, the risk of getting sued gets even higher and the cost involved can be a lot higher. In such situations, your employees or your clients can easily sue you for the damages and file a claims case against you in the court of law. So if you are insured and have Construction Contractors Insurance for your construction company, your insurance company will take care of all the legal fees involved to defend the case, all the medical expenses in case of an accident and of course the claims money.
