Contractors insurance is coverage that can protect your business from devastating financial debts that can result from work-related accidents. It’s important to protect your livelihood with adequate coverages and limits that match your exposure in case your business is threatened.
Who needs it?
Contractors, subcontractors and independent tradesman should carry contractors insurance. It not only protects your business, but it’s often a requirement by many employers before you can start working for them. Common trades that need contractors insurance include:
- Heating & Air
- Floor Installation
- Pressure Washer
- And more!
It’s always good to have insurance in case of mishaps, even if you don’t contractually need coverage.
How much does it cost?
One of the most influential factors that affects your contractors insurance cost is the type of work that’s involved in your specific trade. For example, a roofing contractor is exposed to risks that an HVAC technician isn’t, and vice versa. Therefore, you could expect their rates to differ.
Other factors that affect the cost of contractors insurance are employees, coverage needs, vehicles, location and claims history.
Customizing a quote to match your specific business is the only way to know you’re getting an accurate rate and enough coverage. Start by calling us or starting a quote online.
- General Liability: Typically needed before a contractor can begin work on a job. It could cover you if your business is liable for things like injuring people, damaging property or for faulty work.
- Commercial Auto: Protection for vehicles used for work or to transport tools and other contractor materials. You have the choice to cover attached equipment such as ladder racks and permanently attached tool boxes. Individual tools and materials usually aren’t covered under this policy.
Other coverages contractors might need
- Business Owners Policy (BOP): Packages contractors liability and coverage for personal property and commercial buildings into one policy.
- Workers’ Compensation: Protects if your employees become ill or injured while at work.
Get your free quote today!
We’ve made it easy for you to shop for all your contractors insurance in one place. Simply call us to speak with a licensed agent who can help you with your commercial auto and business insurance quotes.