| By :
Stewart Wrighter
Any company or household will surely need general liability insurance if they have employees or if they have visitors on their property. Even contractors who send their employees onto other sites must have workman's comp insurance just in case anything goes awry. Indeed, just about anything can be covered these days, and so it should be since people are too often very happy to engage anyone in litigation if they think that they can claim a buck or two. The importance of coverage cannot be over estimated. Some companies will have to provide this cover even for those who break onto the site or who are bent on doing something of a criminal nature. This sounds a little ridiculous, but considering that the site must be safe even for those with no permission to be there, then it shows just how important the cover is. Some great companies which offer this coverage can be found online. They cover everything from the employees to visitors and their belongings etc. Even the buildings or site can be included along with vehicles and equipment which may be there too. This becomes very important when an accident happens and someone, or something, is damaged in the process. Although there are some small construction companies which try to skimp on this kind of cover, they have often come unstuck when they are sued themselves instead of the cover company for damage that goes beyond what the cover included. Indeed, some companies have had to liquidate their assets when ordered by the courts to pay off compensation to someone who was hurt on site. Being under covered is not excuse and the assets of the company will be sold to fix this kind of problem. The problem is that some small companies find it difficult to offer competitive rates to prospective customers when they want to undertake work for them. They cut back on their proposals so much that something has to give and this, unfortunately, is the cover that is offered. This big mistake is what catches them out since, inevitably, one day they will need the cover and it will just not be adequate for what has to be paid out. Indeed, coverage should never be minimal and it could be better to lose the contract rather than work without adequate coverage. Good companies will look after their clients of course. If they are regular premium payers, with little or no claims on record, they will often offer discounts to the prospective client to encourage them to stay on board. Much like the no claims bonus offered for car owners, the company will offer the same kind of percentage off the normal premiums as long as their record is clean. These days, unfortunately, most of these companies share their data bases and if someone moves from one company to another after it has made a claim that information moves along with him as well. There is no hiding anymore and this has been done to stop fraud which used to be a problem in the near past.
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