Plumbers, carpenters, painters, freelance writers, graphic designers, animal trainers and even hair stylists are just a few professions where contractors insurance is needed.
Depending upon the type of work and services you provide, there are several coverage considerations for contractors insurance.
Bodily injury and property damage is for those who perform tasks with tools and heavy machinery in professions such as electricians, plumbers and re-modelers. Workers must be aware of issues that can be caused by defective machinery, malfunctioning tools and even compacted gas.
Consideration for errors and omissions is geared for contractors who give consultations and advice, such as financial planners, accountants and architects. Professionals in such fields need to be covered in the event a client experiences losses as a direct outcome of a contractor’s professional guidance.
Contractors who provide alcohol and food services must be concerned with possible injuries and illnesses caused by their servings. The product and liquor liabilities coverage consideration is intended for them.
Many contractors are not on a group plan that covers their injuries. Therefore, they’re at risk for a loss of income if they get hurt or fall ill. The medical and disability consideration highlights this potential situation for contractors.
Acquiring the proper contractors insurance can give you protection from lawsuits, third-party property damage and other various unanticipated events.
The specific contractors insurance coverage you desire will be based on the needs of your business. The Neff Insurance Group can assess your business and its needs to advise you on which liability coverage combinations are best for you.
At the center of every contractors insurance policy will be general liability. It gives protection for both bodily injury and property damage. So, in the event of you or an employee of yours is at fault for the injury or death of a third party while on the job, coverage is provided. Medical care coverage and legal fees are also provided. Plus, protection is given if property is damaged by you or your employees while performing your work-related tasks.
The coverage category for completed products and operations is intended for protection when a project a contractor completes or any goods sold or distributed have issues or causes damages. Advertising personal injury is a category for covering the risk of a reputation being blemished and/or losses caused by libel, slander or even misleading advertising.
Contractors also need to be covered in contractual disagreements and disputes. At times, general liability coverage does not extend to contract issues, so contractors are advised to ask their agent directly about contract-liability coverage.
Finally, contractors should inquire if their coverage options can be bundled with other coverages to form a policy for business owners. In doing so, other various small-business risks may be covered and insurance may be discounted. This makes the best sense for contractors who also have employees, along with acquiring mandatory workers compensation insurance.
To be assured you have the best contractors insurance possible for your needs, contact the Neff Insurance Group today at (513) 896-6700!