Our specialized construction underwriters have deep industry knowledge and an ability to provide flexible, innovative solutions.
An additional insured has less protection than the policyholder, but still gains crucial coverage, such as:Defense coverage. General liability coverage protects businesses against common business risks like customer injury, property damage, and advertising injury claims.
This is where Surety Bonds come in - providing a guarantee you will meet all contractual obligations. The coverages in contractors insurance can vary from business to business. Umbrella Insurance: This additional coverage provides extra liability protection beyond the limits of other insurance policies. They could be sued for damaging client property, causing bodily injury, or advertising injury; general liability coverage helps cover legal fees and damages from any lawsuits that might arise against them.
Provide organizations of all sizes with coverage against data breaches and other fast-evolving cyber risks. Without insurance, you would have to pay out of pocket to defend yourself in court and also pay for damages. Subrogation Comprehensive policies protect against liability claims and property damage if your drivers cause an accident.
With the right insurance partner, you can run your business with confidence knowing you've safeguarded your company's finances and reputation. Liability coverage protects you from these claims long after the job is done.- Protects from third party bodily injury and property damage claims- Covers legal defense fees and lawsuit damages - Applies to incidents on worksites and completed projectsGeneral liability policies come with defined coverage limits - typically for per occurrence and in total annual claims. Avoid choosing coverage based on cost alone and work with agents who truly understand your business.
These options include general liability insurance, workers' compensation insurance, and umbrella insurance. If this occurs to you, HNOA coverage could provide additional protection - read up on these policies today if needed! At The Allen Thomas Group, we understand the unique risks contractors face and provide customized insurance solutions to keep your business safe.
Being accused of negligence by an injured worker can also quickly generate a draining lawsuit. Insurance doesn't have to be complicated!
In most cases, independent and self-employed contractors aren’t required to carry workers’ compensation insurance.
Construction claims are complex and potentially volatile.
When you insure your business with The Allen Thomas Group, you get loss control tools and a team who can review your operations, procedures and programs. Commercial general liability
Call our licensed agent and they can assist with commercial auto and business insurance quotes. If an employee is hurt while working, insurance covers their medical treatment, partial income replacement and rehabilitation services. Each job site brings potential for injuries, property damage, and costly lawsuits.
A commercial auto policy provides protection for vehicles used for work or to transport tools and other contractor materials. Claims-made and reported policy Here are three key aspects that contractors should consider when dealing with legal claims and litigation:1.
It covers the cost of repairs or replacement of damaged property, as well as any legal fees associated with a liability claim.2.
General liability insurance: This coverage protects contractors against property damage caused by their actions or negligence.
It offers contractors peace of mind by extending their liability coverage and ensuring they are adequately protected in case of large claims or lawsuits. This ensures that they have adequate coverage in the event of a claim, as exceeding the policy limits could leave them personally liable for any additional costs. This is covered by general liability insurance, an essential part of a contractors insurance policy. Call (440) 826-3676 for a free contractor insurance quote today. From custom policies designed specifically to fit individual responsibilities and exposures to policies tailored for public or non-profit institutions and financial institutions.
This major expense comes on top of work delays, decreased productivity and legal fees. Learn six ways contractors can effectively manage their cost of risk to help improve their bottom line, their reputation and worker safety. Independent contractors typically have obligations under their work contracts regarding insurance requirements that must be fulfilled, which often state whether the company needs to be added as additional insured. Don't let this happen to you.
The Allen Thomas Group offers products and insights to help our customers stay ahead of risk by preparing for it and ultimately helping to reduce loss costs and keep projects running smoothly. General Liability Insurance also covers any damage your completed projects might cause after work is finished. Insurance doesn’t have to be complicated. Running a contracting business comes with many risks that can lead to expensive claims, lawsuits, or losses.
As a contractor, you want an insurance resource who becomes an invaluable, long-term business partner. It combines both coverages under one policy, and usually has lower insurance premiums than buying each policy separately from the insurance company. One of the key components affecting contractors insurance costs is your specific trade's nature of work.
Liability insurance provides coverage against damage claims caused by contractors when performing work on your property and injury claims that may arise should someone get injured while performing duty. It also covers court judgments or medical or funeral expenses should someone become seriously ill while on duty.
For effective risk management of construction projects, it is necessary to understand all four types of risks inherent within it - these could include financial, contractual, operational and environmental threats that come from both internal and external sources.
That means the general contractor must establish his or her own risk mitigation process that works closely with the construction project manager, conducting risk identification and analysis throughout the duration of the project, while creating a comprehensive risk management plan.
General, professional and employer liabilities are the three major forms of liability protection available today.