We offer a variety of insurance coverage types specifically designed for providers of construction and contract services.
General Liability for Construction & Contracting Professionals
General Liability Insurance protects you against third-party claims for property and personal damages. This policy protects you and your small business from the financial detriment that can result from allegations that you caused personal harm or property destruction. If these claims lead to litigation, your General Liability policy covers these costs, as well as any court-mandated settlements.
For example, if you were to accidentally drop a heavy tool which subsequently damages a customer’s newly installed hardwood floors, your general liability insurance will provide the compensation needed to settle the damages. Without the right insurance, the cost required to rectify the issue could prevent your business from operating.
Property Insurance for Construction & Contracting Professionals
Contracting businesses need strong Property Insurance policies to cover physical damage or loss of their and others’ property. Common property claims in contracting and construction businesses include fire in areas where materials are stored as well as theft of tools, equipment or high-value materials. insureon has many optional coverage endorsements to fit your specific business and risks.
Most contracting and construction businesses elect to purchase Property Insurance to cover their business space, materials inventory and other business assets. Because so much of the typical contractor’s work is completed away from their office, some contractor property policies will also cover business property in transit or at a job site. Property Insurance also covers others’ property while it is in your care.
Special contractors’ coverage may also be available for your business’s equipment and tools, your employees’ personal tools, portable computing equipment, and theft of business property by your own employees. Some Property Insurance policies may include coverage for business interruption.
Workers’ Compensation Insurance for Construction & Contracting Professionals
Contract work often requires physical labor, which can expose you and your employees to a variety of risks, including suffering a work-related injury. Because most contractors work on-location, many clients will require that you have Workers’ Compensation Insurance before you begin a job. Covering your employees with workman’s comp coverage is the best way to protect your business from the high costs associated with potential on-the-job injuries.
Our workers’ comp insurance policies not only cover your employees’ medical costs and some lost wages in the event of a work-related ailment, but it also covers your medical costs and lost income as a small business owner as well.
Some states may mandate that you provide Workers’ Compensation Insurance for your employees. These state requirements may depend on the size of your contracting business and whether you employ other independent contractors to complete a project. Consult with one of our construction and contracting insurance specialists to learn about specific state’s insurance requirements or to decipher the insurance requirements of your contract.
Excess Liability Insurance / Umbrella Coverage for Construction & Contracting Professionals
If you have a contract that requires more General Liability coverage than your current policy offers or if you are concerned that your General Liability limits are not high enough to adequately protect your contracting business, you can quickly and affordably increase your coverage limits with Excess Liability Insurance (aka Umbrella Insurance). This policy adds coverage to your existing General Liability Insurance policy for a reasonable price.
Umbrella Insurance is designed to begin where the primary coverage of an existing General Liability policy ends. For example, if your General Liability policy has a $500,000 limit, but a client requires that you have $750,000 of coverage, with our Excess Liability Insurance we can extend your General Liability policy to get you the additional $250,000 of coverage.
If you are in search of an easy and cost-effective way to increase your existing policy limits, Excess Liability Insurance is the most efficient way to raise the limits on your General Liability policy.
Note that Umbrella Insurance cannot add coverage to Professional Liability Insurance.
- Don’t be afraid to ask your client for a written contract.
Some small construction and contracting businesses only have verbal agreements with their clients, but having a written contract is the best way to prevent financial damages to you or your company should a client be dissatisfied with your work, or if you and your client have a dispute about the work expectations.
- No job is too small when it comes to the proper safety precautions.
Even if your client is only asking you to make a minor repair or complete a small project, your first concern should always be to protect yourself and your clients from any hazards. Be sure to wear appropriate gear for the job and warn the client about possible risks.
- Your work isn’t done until you have checked for quality control.
No matter how certain you are that your work is adequate, it is always worthwhile, and worth your client’s time, to double check everything before finishing.
insureon provides customized insurance coverage for the following construction and contracting professions, including:
- General Contractors
- HVAC (heating, ventilation, and air conditioning) contractors
- Tile, marble, and floor installers
- Electrical Contractors
- Alarm System Contractors
- Building Cleaning and Maintenance
- Other specialized artisans and trade contractors