As an independent contractor, you carry insurance to protect yourself against financial liability from your work. Many jobs require contractors to show that they have a pollution liability policy, which will pay for bodily injury and property damage claims, as well as the expenses of cleaning up toxic waste materials –costs that a standard general liability policy does not cover, and could run into millions.
Any contractor whose business involves risks of hazardous waste exposure, such as asbestos abatement or waste depository, needs pollution liability insurance. This policy will protect you from liability both during the job and if there’s any problem from hazardous waste materials at a later date (“completed operations” coverage).
Pollution liability insurance could also be valuable if you own an industrial site that you believe is free of hazardous waste. The inspection you had performed on the property before you bought it might have missed some underlying hazardous substance that could create liability exposure down the road.
If you have a pollution-related incident at a job site or from one of your completed operations, it’s is too late to buy pollution liability. You can purchase this coverage from a number of insurance companies. The premium will depend on the amount of the policy, the deductible you choose, and whether you buy it on a stand-alone basis or in combination with other types of commercial insurance.
Before deciding whether to purchase pollution liability, be sure that you have the information you need to make the right choice. As always, we’d be happy to offer our advice at any time – just give us a call.
