Contractors and construction professionals face unique risks, and it takes a special kind of insurance to protect a construction business. Contractor insurance is there to cover all aspects of your business, from protecting workers to safeguarding your tools and equipment. Construction professionals and small artisan tradesmen who carry the right insurance coverage can worry less about risk, and focus on running their business.
What is Contractor Insurance?
Contractor insurance protects construction professionals from the pitfalls of a high-risk industry. Depending on your policies, contractor insurance is there as a safety net for accidents, and offers protection for business the business assets that help you get the job done. Contractors are often required to carry contractor insurance in order to work for certain entities or clients, and in certain states.
To fully protect your construction business, your contractor insurance may include:
General Liability Insurance
General liability insurance protects your construction business from third-party lawsuits that could occur if someone (other than an employee) experienced bodily harm, injury, or property damage because of your construction business.
Workers’ Compensation Insurance
Most states require contractors to carry workers’ compensation insurance for their employees. In the high-risk construction industry, injuries can and do happen. Workers’ comp provides for workers’ medical expenses and lost wages if they get hurt doing their job, while protecting your construction business from lawsuits.
Commercial Auto Insurance
Contractors rely on their work vehicles to get the job done, but a personal auto policy won’t cover your auto if you are using it for your construction business. Commercial auto insurance provides coverage for the vehicles you and your employee use for work, and covers any autos titled by your business.
Course of Construction Insurance
Course of construction insurance, also known as builders risk insurance, is a specialized form of property insurance that protects your construction projects during construction. Course of construction coverage can replace and repair damage to the project itself, as well as materials and supplies that are on the project site. Course of construction protects your business equipment, your investment on a project, and provides a safety net for the worst-case scenarios that threaten both.
Tools and Equipment Insurance
A contractor needs specialized tools and equipment to get the job done. You can protect your tools and equipment as they travel to and from project sites with a special contractor insurance policy known as Inland Marine. Inland Marine insurance (also known as tools and equipment insurance) also protects the business technology and data that contractors use to build a modern business. The loss of your equipment could be devastating to your business, but tools and equipment insurance is there to protect your hardest-working assets.
Construction professionals can extend their contractor insurance coverage with an umbrella and excess liability policy. With one affordable premium, umbrella insurance can increase your limits across multiple contractor insurance policies. If a claim on one of your insurance policies exceeded your limit, umbrella insurance can keep you from paying the difference out of your own pocket.
Who Needs Contactor Insurance?
General Contractors, subcontractors, and construction business owners are often required to carry contractor insurance in order to perform work for certain businesses and entities. Contractors have special needs depending on their trade, and we can help you construct the best insurance policies for your unique business.
Get a Quote
Citizens General Insurance Brokers provides contractor insurance for construction businesses. We work hard to help you find the best coverage options for your contractor business at the lowest premiums.
Citizens General offers:
- Fastest turnaround times in the industry
- Great payment options, including zero down
- Discounted bundle premiums
To get affordable contractor insurance coverage for your business, call Citizens General Insurance Brokers at (800) 498-0884 or complete the form on this page to get an instant insurance quote.