You can view more coverages your business may need for Contractors Insurance on our website.
General Liability – Along with a bond, this is required in order to be licensed.
It is important to set up your General Liability Insurance to match the type of jobs you’re working on. If you are performing work that your insurance company does not know about you are creating a gap in your policy that will leave you uncovered and paying out of your own pocket if you have a claim. Liability should be seen as the foundation of your insurance package. Lay that down correctly and you have a steady base to build on. If you don’t lay your foundation properly – you’re going to learn an expensive lesson.
Property Insurance – Property Insurance isn’t only for buildings.
Property Insurance can help cover personal property of your business. It can help with lower limits of coverage for tools and equipment, as well as other overlooked coverages like your Business Income. This can often be packaged with your General Liability Insurance into one policy called a Businessowner’s Package (BOP) that saves you money.
Business Auto Insurance – Your personal insurance will not cover you while performing any tasks for your business.
Auto Insurance for your business is important to cover any employees that may be driving company vehicles. It should have limits similar to your General Liability to add an extra layer of coverage to protect your business from a financial crisis.
These three coverages are only a few of the policies that your Business Insurance should include. Find out more about Contractors Insurance that is available to you! Contact Us today to schedule a review of your Contractors Insurance coverage.
