General/Professional Liability Coverage
Liability insurance provides coverage in the event something goes wrong. Examples of issues covered by liability coverage include injuries on the job site and equipment breakage. It protects both the 1099 contractor and the hiring entity in many cases. For example, if the 1099 contractor causes a personal injury to someone at the job site, the liability insurance will step in and pay the medical bills.
Commercial Auto Coverage
Commercial auto coverage protects not only the 1099 contractor but also the hiring entity in the event an accident occurs while the contractor is driving as part of the job he was hired to do. For example, if a 1099 contract landscaper causes an injury accident on his way to pick up plants for a client’s project, his commercial auto coverage will take care of the accident costs, rather than have the client held liable.
Disability insurance is not required by an entity in order to perform a job. But is a prudent insurance type for 1099 contractors to purchase. It is insurance that will pay a pre-stated weekly benefit to the contractor in the event the contractor is unable to work due to a disability. It is not only the contractor engaged in potentially dangerous work who needs disability insurance. A freelance writer, for example can become disabled by falling in a parking lot, getting hit by a car or requiring back surgery. Disability insurance typically requires a waiting period following the event that causes the disability before the policy begins to pay. The premiums fluctuate depending on the chosen waiting period length, the percentage of salary that will be paid each week and the general riskiness of the contractor’s chosen occupation.
EMERGE INSURANCE AGENCY