What a Contractors Insurance Package Covers
Contractors can face some dangerous working conditions when they’re out on the job, and the costs of injuries incurred by these working conditions can result in some serious costs to your business. These high risks make a good insurance policy necessary for peace-of-mind while you’re out on the job. Not all contractors have the same working conditions, however, so it’s important that you speak with an insurance specialist to help you determine what coverage is right for you and how to best meet the needs of your company.
What a Contractor’s Insurance Package Covers
A contractor’s insurance package includes all of the necessary coverage options to protect you and your company from problems that may arise due to the risks of construction and renovation projects, as well as the risks to your work site, company equipment, employees, and anyone involved. Typical policies included in the package are:
- Worker’s compensation
- General liability insurance
- Commercial vehicle insurance
- Business owner’s policy
Any additional coverage added to the contractor’s insurance package would be dependent on your line of work. As mentioned earlier, not all contractor’s face the same risks, so the coverage your company requires may differ from other contracting organizations. Sometimes the coverage you need is even determined by local legislative requirements. Our insurance specialists are here to assist you in finding the coverage options that are required to keep your company protected.
Contractor’s Equipment Insurance
Every contractor requires tools to complete their job, some of which are specially designed with their field in mind. Some of these tools can be quite expensive, which means huge losses for your company if this equipment is damaged or destroyed beyond simply the time lost. There are some pieces of equipment (such as bulldozers) that aren’t covered under normal policies. The insurance specialists at Noltensmeyer Insurance Services strive to provide you with the best insurance coverage options for your business. Talk with one of our specialists today to find out how your equipment is classified, what risks are associated with it, and what kind of reimbursements can be expected for claims involving such equipment.
Contractor Vehicle Insurance
Ensuring you have the appropriate coverage for the types of vehicles your company uses is essential. Different policies cover different vehicles, and an insurance specialist from Noltensmeyer Insurance Services can help you find the coverage your company needs to insure all vehicles used by your company, whether they’re used simply for transportation between sites or for doing the heavy lifting. Some contractors may best be suited removing this option from their policy, which will ultimately lead to lower premiums. If you’re not sure whether you fall into this category, one of our representatives can help you decide.