Contractors Insurance Quote Forms
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Contractors Insurance Information
Like all businesses, contractors face risks while running their operations. Proper insurance coverage can provide financial protections for general contractors, independent contractors and their clients.
The professionals at General Insurance Services of Asheville Inc. can help you secure the insurance you need. Contact us for more information.
How Does Insurance for Contractors Work?
Securing insurance is an essential part of a contractor’s operations. By paying a premium to an insurance company, the contractor receives assurances that they will receive compensation for covered losses. Insurance payments can be for various expenses, including property damage, medical bills and specific legal costs. These coverages can help reduce a contractor’s out-of-pocket expenses.
What Types of Insurance Are Available for Contractors?
Contractors insurance isn’t one set policy but rather a group of policies. Several types of coverage may be available, including:
General liability insurance—This provides coverage if your business is responsible for third-party bodily injury or property damage. General liability coverage may help pay for the property losses, medical expenses or legal costs that arise from these claims.
Property insurance—Contractors from all trades have valuable property. If covered events such as fires or vandalism damage your business’s physical assets (e.g., your building), property insurance may pay repair or replacement costs. Coverage may also be available to protect your specialized tools and equipment.
Builders risk insurance—This may provide coverage for property during a construction project. It may provide protection for the building under construction and for materials, supplies and equipment at the job site, in transit or in storage.
Inland marine coverage—This may provide coverage while your business’s tools and equipment are being transported.
Commercial auto insurance—If your business owns vehicles, commercial auto insurance can provide coverage if they are in an accident or damaged. It is a separate policy from personal auto insurance or hired or non-owned business vehicles.
Workers’ compensation—This may pay medical expenses, lost wages and other potential expenses for employees after a work-related injury or illness.
Umbrella insurance—If a large liability claim exceeds your other coverage’s liability limits, umbrella insurance may help fill the financial gap.
Other policies may be available, including:
Your agent can provide additional information regarding options, limits and exclusions. Contact us for details.
Pollution liability insurance
Business interruption insurance
Professional liability insurance
Cyber liability insurance
How Much Does Contractors Insurance Cost?
Several factors impact the premiums of contractors insurance, including the size and location of your business and your trade. Your selected coverages, limits, and claims history may also affect the cost.
The team of agents at General Insurance Services of Asheville are here to help you secure the insurance you need at the best value. Contact us today to get started or for a quote.