When you are working as a contractor you will need to be insured in case there are any accidents, damages or negligence. A bond must be registered before you are issued with a license to work and without it you will be putting yourself at risk. If you are looking for contractors insurance in Los Angeles there are a few options available to you and a little research is advisable.
You do not have to be insured to stay within the law but if any accidents happen or damage occurs, then you as the contractor, are personally responsible and liable. Most firms that hire a contractor will want one that is fully covered and properly licensed. You will find it a lot easier to get a contract if you are insured and you will be safe in the knowledge that you are covered against any unforeseen problems at work.
This type of policy also protects against other things such as personal injury and medical expenses. If you employ workers there are also policies that protect their wages if you cannot pay them for any reason. The costs of the policy will vary depending on your circumstances but it will be worth the outlay when things go wrong.
When you need to set up your policy there are a couple of options and the process is fairly simple. Agents can be found in most towns and cities and there are businesses that advertise locally, in newspapers and in business magazines. The majority of insurance companies will have a web site and these are worth looking at to get some information when doing your research.
When you find a suitable broker you can go along to their office and fill in the paperwork to set up your policy. You will have to submit some personal details and explain what type of work you carry out before selecting the level of cover. Payment will then be taken and you are given the policy document and a receipt for you payment which you should retain.
Using the services of a web based agent may be easier and a lot more convenient as you can enter your details on the web site and get things set up. You can fill in the online application forms and pay the required fees using the normal online payment options. You should receive an email detailing the policy, which you should save, before receiving the paperwork.
Most brokers, agents and online firms will also let you make payments at regular intervals which can be useful for smaller companies. You are given the option to pay each month, quarterly or pay the whole year up front. Payments are usually taken from a bank account or credit card and some companies may accept a cash payment.
Before making any final decisions and deciding on a company to cover you it is worth asking your colleagues in the trade for advice and recommendations. It is worth shopping around by contacting a few firms and obtaining quotes which will enable you to compare prices. When you have selected a company and the policy is in place it is essential to make the agreed payments to keep the policy valid.
You do not have to be insured to stay within the law but if any accidents happen or damage occurs, then you as the contractor, are personally responsible and liable. Most firms that hire a contractor will want one that is fully covered and properly licensed. You will find it a lot easier to get a contract if you are insured and you will be safe in the knowledge that you are covered against any unforeseen problems at work.
This type of policy also protects against other things such as personal injury and medical expenses. If you employ workers there are also policies that protect their wages if you cannot pay them for any reason. The costs of the policy will vary depending on your circumstances but it will be worth the outlay when things go wrong.
When you need to set up your policy there are a couple of options and the process is fairly simple. Agents can be found in most towns and cities and there are businesses that advertise locally, in newspapers and in business magazines. The majority of insurance companies will have a web site and these are worth looking at to get some information when doing your research.
When you find a suitable broker you can go along to their office and fill in the paperwork to set up your policy. You will have to submit some personal details and explain what type of work you carry out before selecting the level of cover. Payment will then be taken and you are given the policy document and a receipt for you payment which you should retain.
Using the services of a web based agent may be easier and a lot more convenient as you can enter your details on the web site and get things set up. You can fill in the online application forms and pay the required fees using the normal online payment options. You should receive an email detailing the policy, which you should save, before receiving the paperwork.
Most brokers, agents and online firms will also let you make payments at regular intervals which can be useful for smaller companies. You are given the option to pay each month, quarterly or pay the whole year up front. Payments are usually taken from a bank account or credit card and some companies may accept a cash payment.
Before making any final decisions and deciding on a company to cover you it is worth asking your colleagues in the trade for advice and recommendations. It is worth shopping around by contacting a few firms and obtaining quotes which will enable you to compare prices. When you have selected a company and the policy is in place it is essential to make the agreed payments to keep the policy valid.
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