Let’s face it, accidents can happen at anytime — both on and off the job.
And as a general contractor, your business and livelihood face possible financial hardship due to an accident, such as: lost time at work, potential lawsuits, worker’s comp claims from your employees, etc.
This list goes on.
So how can you protect yourself?
Only though proper insurance coverage.
How to get the best contractor insurance
The first thing to keep in mind is that you may require more than one policy to have the best coverage.
For example, there are policies that can provide you with:
- general liability protection
- Worker’s Comp
- commercial vehicle insurance
- specialized contractors insurance
General liability insurance forms a fundamental part of contractors insurance. The purpose is to provide protection for you against lawsuits and other financial liabilities that result from things like accidents or other mishaps.
Sometimes general liability insurance is bundled with a variety of other coverages in a Business Owners Policy.
Depending on your situation you may not need this additional protection.
It goes without saying that if you have employees (or subs) working under your supervision, chances are you need to have Worker’s Compensation insurance. As you already know, it could help cover the medical costs and a portion of lost wages for an employee who becomes ill or injured during work.
If you currently have Worker’s Comp perhaps it’s time to get another quote?
Finally, having a commercial vehicle insurance policy makes a lot of sense, especially given your situation. In today’s society lawsuits are fairly common. Should you get into a traffic accident on the way to or from a job while driving your van or cube truck, chances are you’ll find yourself getting sued, whether or not the accident was your “fault.”
Some policies provide additional coverage for trailers, as well as any equipment that might become damaged when involved in a traffic accident.
Additional points to keep in mind are coverage limits and possible exclusions listed in the policy.
So how can you know whether your existing coverage is sufficient for your situation?
There are certainly a lot of things to consider when it comes to protecting your business from possible risk. That’s why it makes good business sense to speak with an insurance specialist, especially someone who works with general contractors. To speak to an expert regarding general contractor insurance simply click the link.
After all, it only takes a few minutes of your time to find out if you have all the coverage you need.
Get free no-obligation quotes today
Are you searching for New York business insurance?
Simply click the link for more information on how Bruen Deldin DiDio Associates can evaluate your current business insurance to make sure you have the right policy. With more than 65 years of experience they can help identify any gaps in your existing insurance coverage.
And if you’re located in another part of the country save time and money with a free, customized, quote comparison from qualified business insurance providers.
Get your free, no-obligation business insurance quotes online today.
Or you can follow the link for our directory of business insurance providers that can help you get set up for your State or Metro area.
Either way the choice is yours…