Contractors
Contractors are encouraged to get the right type of coverage for their business. Contractor's insurance policies should be a combination of policies that cover all aspects of this unique industry. Contractors are open to many additional liabilities than a regular brick-and-mortar business.
Contractors Need More Than General Liability Insurance
Contractors perform a majority of their work off-site. General liability insurance will protect your business if a client or vendor is injured while visiting your physical place of business or if your employee does property damage on-site. It will not offer you other protections that contractors need.
Contractors should consider the following coverage to fully protect their business:
Vehicle Coverage. Most contractors must drive back and forth to job sites and pick up supplies. Make sure the business covers your job vehicles.
Theft Coverage. If you are working at a site that requires you to leave tools and supplies overnight or throughout the time the project is being worked on, you want to ensure that your tools and supplies are covered for theft.
On-Site Property Damage. If you are working at a site and damage occurs, you want coverage for this accident.
Completed Operations Coverage. If your work causes harm to the client after your job has been completed, and that harm was a result of your work, this coverage will protect you from lawsuits.
Worker's Compensation. If you have employees at your worksite, you want to have the right worker's compensation policies in place in the event of an injury.
Additional types of policies are available to protect your business. Speak with your rep at Truckers Insured to make sure you have all the coverage you need.
Is Contractors Insurance Expensive?
Contractor's insurance is very affordable. You can manage how much your policies cost by selecting different coverage limits and deductible amounts. Make sure, however, that you do not set your policy limits too low, or you may still face a financial burden if you are sued.
It is also essential to set your deductible at a realistic amount. Setting higher deductible limits may be tempting to keep your premiums lower, but you must remember that no benefits are paid until the deductible is met. Never set your deductible higher than the cash you have readily available.
Get Customized Contractors Insurance With Truckers Insured
Every contracting company has its own unique needs for insurance. When you work with Truckers Insured, we will build an insurance package designed to meet your business's specific needs.
We work with several major insurance companies. This allows us to find the best coverage at the best rates for your business.
In addition to business insurance products, Truckers Insured offers personal insurance products, trucking industry insurance policies, and employee benefits insurance products. We can help cover you in every area of your life.
Getting the right insurance does not have to ba a challenge. It also does not have to be expensive. When you work with Truckers Insured, we will take the challenge out of finding the right insurance products.