Contractor Liability Insurance Quotes
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As a construction professional, you understand the many risks you face daily, which is why it is vital to have the right commercial policies in place. General liability insurance for contractors offers a foundation for other coverages to be placed upon, and is one of the most crucial policies any business can have. Depending on your unique situation, there can be other, just as critical, policies that need to be in place to ensure you are protected.
When it comes to insurance for contractors, the key is finding an agent that not only understands your industry, but also is willing to educate you on what protection you need in place to limit your exposure. To find construction insurance companies that offer the plans you need, use NetQuote, the leading online indemnity marketplace. By filling out a single online form, you will quickly get multiple FREE, no-obligation construction liability insurance quotes from top providers, allowing you to easily compare rates and coverages.
Specific Contractor Liability Insurance Coverages
Contractor general liability insurance (Wikipedia definition) goes by many different names, but serves the one purpose of providing coverage that fits a specific need. Here are some common types of coverage:
- General contractor insurance - As a general contractor, you take the lead on construction projects, making you the prime target should something go wrong. Holding a general contractor liability insurance policy is a critical part of being a responsible party, and is mandatory if you wish to be awarded construction contracts.
- Subcontractor insurance - Subcontractor liability insurance is no different than general contractors liability insurance, in that it provides coverage for construction professionals. Subcontractors cannot rely on piggybacking on the general contractor's policy, so they need to have, and are often times contractually required to carry, their own policy.
- Electrical contractor insurance - As an electrician, you are responsible for properly wiring residential and commercial buildings, where the margin of error is slim and the liability potential great. Carrying the right coverage is vital, and a requirement in order to be able to work in this industry.
- Handyman insurance - As a handyman, you might not be a licensed contractor, but you are still responsible for doing all sorts of smaller, residential construction projects. This means your liability exposure can be great, necessitating a handyman insurance policy that provides the liability and property protection you desperately need.
Other Construction Insurance Considerations
Having a construction general liability insurance policy is a given, but what other types of coverage should you consider? Depending on what exactly your business does, and what type of exposures it has, coverages will vary from the basic to specialized policies tailored for a specific need. Some policy examples are:
- Surety Bonds - As a contractor, you are often times required to have a surety bond to ensure you perform, per the contractual requirements. If you fail to perform, then the surety bond provider will make a payout to your client, covering their financial losses up to the bond limit.
- Commercial Auto Insurance - If you have work vehicles you use in your construction business, you need a commercial automobile policy. A personal automobile policy will not cover your commercial use vehicles, so a commercial auto insurance policy is required.
- Workers Compensation - If you have a certain number of employees, then most states will require you to carry workers compensation insurance coverage. This pays for employees who are injured on the job. There are some exceptions that allow certain companies to not carry this type of policy, but most companies with employees need workers compensation coverage.
The above examples of commercial insurance are just some of the many types of coverages available. The bottom line is that you need to make sure you have the right policies for your business so you, your company, and your employees are protected. You don't want to be in a situation where you need protection but don't have it, resulting in an expensive financial lesson
Get Contractor Insurance Quotes
Regardless of the type of construction business insurance coverage you need, be it general contractors liability insurance, commercial vehicle coverage, a surety bond, or one of the many other policy types, you need an easy and quick way to find the right provider. NetQuote gets you contractors insurance quotes quickly and easily from various top carriers, allowing you to quickly compare rates and make an informed decision as to which company is right for you.
When you request coverage quotes via the web, you complete one secure, online form and quickly hear back from several agents that have the coverage you are looking for. You can then discuss other insurance needs with them to make sure your business is properly protected. At no time are you under any obligation to purchase coverage, you can just check rates and make a decision at the proper time.
Get your FREE, no-obligation contractor liability insurance quotes today from NetQuote!
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