How often are contractors typically required to renew their general liability insurance?

Contractors are typically required to renew their general liability insurance annually, depending on the policy terms. This annual renewal is crucial for maintaining active coverage, as insurance policies often have a term of one year. The renewals allow contractors to reassess their needs, potentially adjusting coverage limits or policy provisions as their business evolves or as industry standards change.

Moreover, annual renewals also serve to ensure that the contractor remains compliant with regulations or requirements set forth by clients, local laws, or licensing boards. It's important for contractors to carefully review their policy and any changes that may have occurred over the preceding year that could affect their coverage or premiums, including changes in the business environment, claims history, or applicable legal requirements.

By staying on top of these renewals, contractors can protect themselves against unexpected claims or liabilities that may arise during the course of their work.