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The Contractors Insurance market is a subset of the larger insurance industry. It provides coverage for contractors and subcontractors who are working on construction projects. This type of insurance is designed to protect contractors from financial losses due to accidents, property damage, and other liabilities that may arise from their work. It also covers the cost of any legal fees that may be incurred in the event of a dispute.
Contractors Insurance is typically purchased by the contractor or subcontractor, but can also be purchased by the property owner or general contractor. It is important to note that the coverage provided by this type of insurance is different from that of general liability insurance, which is designed to protect the property owner from any claims made against them.
Some of the companies in the Contractors Insurance market include Liberty Mutual, Allstate, State Farm, Travelers, and Chubb. Show Less Read more