What is the main benefit of having general liability insurance?

Having general liability insurance primarily provides protection against property damage and legal liability. This type of insurance is crucial for contractors as it covers a range of potential risks associated with construction projects. For instance, if an accident occurs on the job site and someone is injured or property is damaged, general liability insurance can help cover the costs related to those incidents. This includes medical expenses for injuries, legal fees if a lawsuit arises, and costs for repairing or replacing damaged property.

By safeguarding against these financial liabilities, general liability insurance helps contractors maintain their business operations and ensures they can handle unexpected events without facing significant financial distress. This coverage is fundamental in managing risk and protecting both the contractor and their client's interests in construction projects.