If you employ contractors, subcontractors, or independent tradesmen, you have probably spent some time ensuring those you hire have the training needed to perform their work safely. However, no matter how careful they are on the job, accidents can happen, and the results can be financially devastating. That is why contractors insurance is a good idea when you are employing painters, plumbers, HVAC technicians, construction workers, carpenters, electricians and other contractors.
What Does Contractors Insurance Cover?
Contractors insurance will generally protect your business from the claims of bodily injury, property damage and medical costs made by another person or business related to the work your contractors carry out for them.
This type of insurance can cover bodily injury, personal injury, property damage and data loss.
Who Needs Contractors Insurance?
Contractors insurance is recommended for any type of contractor, subcontractor or independent tradesman. Many employers will require their contractors to have this type of insurance, but it is still a good idea to protect your business even if there are no strict requirements for coverage.
Its cost will be influenced by the type of work involved, your coverage needs, the vehicles and locations involved in your business, and other factors.
Construction insurance can help to protect your business from financial liabilities that arise from unexpected accidents on the job. This applies to a wide range of businesses involved in construction work, such as home improvement, home building, asphalt laying, welding, excavation and roofing.
Tradesmen such as cabinet makers, flooring contractors and framers need protection against the financial liabilities that could occur from injuries or property damage. It is important to have basic coverage, such as general liability and commercial auto, in place at a minimum; workers’ compensation may also be a good idea.
In plumbing, even a small mistake can lead to a major accident that can be difficult to recover from financially. General liability can protect against lawsuits from mishaps such as flooding a customer’s home, while the vehicles used for transporting supplies such as plumbing tools and pipes often need commercial coverage.
Electricians carry out risky work, and electrical contractor insurance can help to protect against the financial losses of property damage, injuries and other risks. For example, general liability can protect against lawsuits related to accidents such as fires caused by the work carried out by your employees.
Painting insurance can protect your business against the financial liability related to problems such as falls, paint spills, and broken windows. A general liability policy can cover incidents involving property damage and bodily injury caused by a contractor working for you.
HVAC technicians can be confronted with a lot of dangerous situations in their work, and they can also cause property damage that leads to financial losses that may put your business at risk. An insurance policy can cover injuries to your employees as well as business and residential customers, in addition to property damage.
Reach Out To Merchant Family Agency Today
Get in touch with the experienced professionals at the Merchant Family Agency to find out more about contractor insurance that fits the specific risks involved in the work carried out by your business. Please give us a call at 407.707.6418 or request a quote online today.