What is contractor insurance?

Like any business, independent contractors need insurance to protect themselves financially. What type of insurance you need depends on the type of work you do. Some types of independent contractors include the following:

• Independent construction contractors
• Freelance writers, editors and graphic designers
• Repair people, plumbers, carpenters, electricians, painters
• Accountants and financial planners
• House and carpet cleaners
• Independent hair stylists and salon professionals

Contractors are like any business. You need property and general liability insurance to minimize the basic financial risks of running a business. Additionally, contractor insurance includes coverage designed for specific industry risks. Our agency can find a customized policy that includes coverage most suitable to you.

If you are hiring contractors, you want them to have contractor insurance. Insurance you carry as a business or homeowner may not protect you from liability for a contract worker. This can expose you to lawsuits if a worker gets injured at your business or home.

What types of contractors insurance are available?

There is a wide variety of contractor insurance options. Here are common coverages for independent contractors.

• Bodily injury and property damage: This coverage is for contractors who work with heavy machinery and need to be prepared for accidents due to power tools and other hazards.
  
  
• Professional liability: For contractors who provide consulting and advice, this coverage can protect you from liability risks due to losses a client may experience. It protects your business’s finances if a client accuses you of errors, whether due to mistake or negligence.
  
  
• Commercial vehicle: Any vehicles owned by your business must adhere to state auto insurance laws. You can also protect your vehicles from various damages.
  
• Builder’s risk covers property and raw materials while construction is underway. This type of policy is often written per project.
  
  
• Workers compensation: Independent contractors may or may not need workers compensation. This coverage compensates employees for medical expenses and lost wages after an on-the-job injury.

Get started today!

We can search for the best policies based on the size of your business, the number of employees and the type of work you perform. Call us today to get started with a free quote.

Construction Insurance

What is construction insurance?

Construction professionals and contractors are faced with daily risks of jobsite hazards and equipment damage. Construction insurance is designed to help you maintain a safe worksite and team of employees and can provide protection for materials, natural disasters and your own business.

However, construction companies often need specialized policies for complete coverage. Contractors, carpenters, homebuilders, remodelers, plumbers, electricians, handymen and other professionals in the construction industry can benefit from such specialized insurance policies.

What types of construction insurance are available?

Construction professionals work with heavy machinery and equipment that can break down or injure workers. For this reason, standard commercial insurance policies, along with specialized policies, are necessary for comprehensive coverage. Some of the most common policies needed by construction professionals include the following:

• General liability insurance: Could cover liability costs if individuals unassociated with your business experience injury or property damage on your worksite.
• Professional liability insurance: Also called errors and omissions insurance, this policy could protect you from third-party claims of error and/or negligence.
• Commercial vehicle insurance: Could cover any business-owned vehicles or personal vehicles used on behalf of a business and the associated liability of such use. This can include cars, trucks, vans, cement mixers, etc.
• Loss of income insurance: Could cover a loss of income within policy limits resulting from business interruption.
• Builder’s risk insurance: Could cover property damage on worksites while under construction, which may also include construction materials prior to installation.
• Workers’ compensation: Could compensate employees who are injured on the job for medical expenses and partial wage replacement.

Get started today!

Our agency will evaluate your business and make recommendations for appropriate policies based on the size of your company, the number of employees, and the work you perform. Call us today to get started with a free quote for construction insurance.