“Measure Twice, Cut Once.” Everyone who’s worked construction has heard it. Doing a little extra prep work before you fire up a circular saw will save you a lot of time and money fixing mistakes later on. Contractor’s Insurance is the financial equivalent of measuring twice, if you’re adequately covered before disaster strikes.
No matter what type of contracter you are, the core of your insurance is the same as any Business Owner’s policy: General Liability coverage, which helps cover expenses if you’re found legally responsible for an accident on the jobsite; and Property Insurance, which can compensate you for damages to your business premises (owned or rented) and the belongings held within.
Of course, no two contracting businesses are the same. A roofer and an electrician face different risks, and may need any number of additional coverages.
Contractors tend to move where the work takes them, and their equipment tends to move with them. Your pickup trucks and repair vans should be covered with a Commercial Auto policy, which generally has higher coverage limits than personal auto policies. Larger mobile equipment like bulldozers, or even valuable power tools that don’t stay at the shop, should be covered with an Inland Marine Policy. Your tools are your life, and you can’t afford to be without them.
General contractors should know about Builder’s Risk policies, Installation coverage, and Rigger’s Liability. And it’s always worth considering Worker’s Compensation (even if you are your only employee), and an excess liability Umbrella Policy, to protect you in the most unforeseen liability situation.
Every job, every site, every change order, you put yourself into your work. But if anything goes wrong, your company is at risk. Plummer Insurance offers a broad range of coverages from a number of insurers, letting us tailor a policy to your business’ size, number of employees, types of equipment, and more. Talk to an experienced agent today to be sure you’ve thought of everything – down to the inch.