Get My Insurance License Online
Get My Insurance License Online
Completing your POSP certification is the quickest method to become an independent agents online. An insurance agent that can sell specific insurance products is known as a POSP (Point of Sales Person).
- You must be at least 18 years old
- Complete at least Class 10 of schooling
- You must also have a valid PAN Card.
- You will subsequently be required to complete a 15-hour IRDAI-mandated training course.
Liability Insurance for Independent Contractors: Cost-Effective Solutions
In the world of construction, liability insurance is considered as one of the most essential insurance covers. It not only helps to protect the contractor from being held liable in case a customer or client suffers an injury while at the hands of the contractor, but it also helps to secure the contractor from other losses that may occur at the hand of the contractor. A contractor is liable to pay all the money that has been spent by the client in the completion of work till the time of this liability insurance claim. This includes all the costs and expenses like legal fees, site clearance fees and other expenses taken by the contractor.
Importance of Liability Insurance for Independent Contractors
The importance of liability insurance for independent contractors can never be underestimated. The contractor who is not insured is not safe from any sort of liability. If an accident occurs or any damage is caused to property owned by the contractor during the period of his work, then the owner of that property may sue the contractor. Thus, it is absolutely necessary that these contractors take up a comprehensive insurance policy so that they can at least hope to get back half the amount of money that was invested in the construction process. It is really difficult for an independent contractor to estimate the total cost of his work.
However, the best way to estimate the liability insurance cost is to log on to the World Wide Web and do some basic research. There are numerous websites that will help you in calculating the cost of insurance for contractors. You just need to enter the details of the different types of work that you would like done on your site. These details can include the number of persons who will be working on your site, the amount that will be spent on those workers as well as the duration of their work. The best thing about doing it online is that the results that you get will be more accurate and timely.
The best thing about insurance policies for independent contractors is that most of them come with no strings attached. There is no requirement that the contractors go for regular health checkups or that they take up further training to improve their skills. The only requirement is that they should undertake work that is above a certain level of danger. If they happen to be working on a building site or any other site where there are a lot of electrical panels or delicate wires attached, then it would be prudent for them to carry an insurance policy. In fact, it would be better if they carry liability insurance as well as general contractors.
If the contractor is unable to pay the insurance premium, then the company is not liable to compensate them for the loss or damage. Liability insurance for contractors’ costs is usually quite cheap and most companies offer free quotes. You just have to compare different insurance packages and select one that suits your needs. There are different types of insurance policies for different types of work. So it is advisable to know more about each insurance package and then make your selection based on its suitability.
The best place to get your liability insurance for contractors’ cost estimates is to search online. You can get all the required information in few clicks and you will find that many reputed companies are offering you their quotes at a reasonable cost. Before selecting an insurance policy, make sure that the company provides comprehensive coverage along with a long enough payout time. Make sure that the time frame is not more than 6 months for the policy to become effective.
Furthermore, get to know about how to become insurance agent and independent Agent. You can be the one and work for the insurance agency with the use of insurance technology. You can also find insurance professionals from “insurance agent near me” to get more information on it. Lastly, get to know about How to Become an Insurance Broker in Atlanta.