Common use of Contractor Insurance Clause in Contracts

Contractor Insurance. In accordance with its standard practice, Spearfish will require the contractor who builds the Trail to maintain occurrence-based commercial general liability insurance or equivalent form with a limit of not less than $1,000,000 for each occurrence. If such insurance contains a general aggregate limit, it shall apply separately to the agreement with Spearfish or be no less than two times the occurrence limit. Such insurance must add Spearfish and its employees as additional insureds. The contractor will also be required to maintain business automobile liability insurance with a limit of not less than $1,000,000 each accident. Such insurance shall include coverage for owned, hired, and non-owned vehicles. Such insurance must add Spearfish and its employees as additional insureds. The contractor will be required to procure and maintain workers’ compensation and employers’ liability insurance as required by South Dakota law. Spearfish will require the contractor to provide a certificate of insurance for the required insurance to Spearfish. The required insurance may not be cancelled without at least 30 days’ prior written notice to Spearfish.