General Contractor Insurance

General Contractor Insurance

Rental property insurance

Keep your fleet and business driving forward with customized coverage from our commercial auto insurance experts. Some independent contractors are required to have this coverage to work in riskier professions, such as roofing and building trades. We offer insurance by phone, online and through independent agents. A business can add multiple contractors to its general liability policy.

Tools, equipment, and materials coverage - Insures business tools, equipment, supplies/inventory for loss or damage at the job site or in transit. Different industries bring different risks. Assists you with covering medical expenses and legal fees associated with defending against an event covered under this plan. contractor insurance  

Independent contractors can also add business owners to their policy. The Allen Thomas Group Contractor Insurance . Additionally, before bidding or taking on a job, you may be required to show proof of insurance. It provides benefits to employees who are injured or become ill due to work-related activities.

It depends largely on the scenario, and practices vary by industry. This coverage protects you when a third party sues your business for bodily injury or property damage. The Allen Thomas Group Advantages Include:- Specialized expertise serving contractors across the U.

For example, the photographer could be accused of copyright infringement, while the remodeler faces the risk of potential injury to the homeowner. Commercial property - Protects your business property like offices, warehouses, showrooms for perils like fire, theft, vandalism, smoke damage, etc. So is the business owner or the subcontractor responsible for adding the additional insured?

Top insurance carriers - Independent agencies have access to quotes from numerous respected insurance carriers all in one place. Prices vary based on how you buy.

It’s important to protect your livelihood with adequate coverages and limits that match your exposure in case your business is threatened. Other factors that impact the cost of contractors insurance are employees, coverage needs, vehicles, location and claims history.

Property damage insurance is a vital coverage that contractors should have to protect against potential damages to the property they are working on. It covers medical expenses, lost wages, and rehabilitation costs, protecting both contractors and their workers.3. Endorsement

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Contractor Information

Secure Your Contracting Business with Custom Commercial Insurance

Shield Your Business: A Contractor's Guide to Insurance

As a contractor, your business is your livelihood. You've worked hard to establish your company and reputation. That's why it's vital to protect your business with comprehensive insurance. At The Allen Thomas Group, we understand the specific risks contractors face and provide customized insurance solutions to keep your business safe. Whether you're a general contractor, trade contractor, or independent contractor, read on to learn why insurance matters and how to choose the right coverage.

Construction is an inherently risky industry. Each job site brings possibilities for injuries, property damage, and costly lawsuits. Just one incident can devastate your business if you're not adequately insured. From general liability to workers' comp to builder's risk, contractors need several types of insurance. Yet many make the mistake of being underinsured or having gaps in coverage. Don't let this happen to you. As a contractor myself, I've seen firsthand how crucial insurance is. At The Allen Thomas Group, our trusted advisors will analyze your business risks and recommend comprehensive policies to protect you. With the right insurance partner, you can run your business with confidence knowing you've safeguarded your company's finances and reputation. This guide will provide an overview of key coverages, insurance costs, and tips for choosing the best insurance agency for your contracting business.

Why Contractors Need Insurance

Running a contracting business comes with many risks that can lead to costly claims, lawsuits, or losses. Without proper insurance, a single incident could bankrupt your finances or even put you out of business. Some key reasons contractors need insurance include:

- Lawsuits - You may face liability claims over property damage, injuries, mistakes, and more. The right insurance protects you if sued.

- Employee injuries - Workers' comp insurance is mandatory in most states to cover medical bills and lost wages for injured employees.

- Property damage - Accidents happen. Builder's risk and equipment/tools coverage protects you if items are damaged or stolen at a job site.

- Contract requirements - Many construction contracts require you to carry certain insurance limits and name the client as an additional insured.

- Reputational damage - Lawsuits and uncovered losses can harm your business' reputation. Insurance helps cover losses so you can keep your good name.

- Business investments - Your tools, equipment, offices and other business assets represent a major investment. Property insurance protects your assets in a loss.

Adequate insurance gives you security and peace of mind to focus on your work, not risks. It's a necessary cost of doing business.

Key Coverages for Contractors

As a contractor, you need several types of insurance for full protection. Below are key policies every contractor should carry:

- General liability insurance - This covers claims of bodily injury, property damage, personal injury, and advertising injury. It protects you in lawsuits, employee injuries, 3rd party property damage, etc.

- Workers' compensation - Pays for medical treatment and lost wages for employees injured on the job. It's mandated in most states.

- Builder's risk insurance - Also called course of construction, it covers projects under construction for perils like theft, vandalism, fire damage, natural disasters.

- Business auto insurance - Covers liability and damage involving vehicles used for business purposes like work trucks.

- Tools, equipment, and materials coverage - Insures business tools, equipment, supplies/inventory for loss or damage at the job site or in transit.

- Professional liability - Required for design/build contractors and covers mistakes in your professional work.

- Commercial property - Protects your offices, warehouses, showrooms for perils like fire, theft, vandalism, smoke damage, etc.

This mix of insurance coverages provides vital protection for your contracting business's exposures. A great agent can evaluate your specific risks and recommend optimal coverage, limits and additions like umbrella policies.

The Allen Thomas Group has the experience, carrier access and resources to tailor comprehensive coverage at competitive prices. We'll help you identify exposures, fill coverage holes, and choose cost-effective policies so you can keep focused on what matters most – excelling at the work you love. Our customized contractor insurance packages provide:

- Coverage gaps filled
- Bundles for cost savings
- Proper limits to safeguard your assets
- Advice to reduce risks
- Hassle-free claims service
- Year-round policy access & review

For over 20 years, The Allen Thomas Group has been a trusted insurance partner for general contractors, trade contractors, and independent contractors. We'll stand by you like family and empower you to run your business with confidence. Don't wait for a loss to realize you're underinsured – be proactive and protect your assets with The Allen Thomas Group. Call (440) 826-3676 for a free contractor insurance quote today.


More Critical Information About Contractor Insurance

Citations and other links

Construction Insurance Types

General liability insurance is particularly important as it provides coverage for third-party bodily injury and property damage claims that may arise during the course of a project. Understanding the policy limits and choosing the right insurance provider are crucial aspects of this type of coverage.

Call us or start the quote online to begin today.

Workers' Compensation Insurance: This coverage is essential for contractors who have employees.

Our veteran agents take time to explain how policies apply to your real-world scenarios.

Construction Insurance Types
General Contractor Workers Compensation Insurance

General Contractor Workers Compensation Insurance

Workers' Comp ensures you have expert legal representation if such claims arise. Furthermore, bidding or taking on new jobs often requires proof of insurance as part of their requirements.
 Contractor insurance is crucial for protecting both contractors and their clients from financial risks and liabilities associated with accidents or property damage.

Contractors insurance from The Allen Thomas Group protects small businesses like painters, carpenters, landscapers and other tradespeople with a variety of coverages to help them take on the financial impact of work-related accidents. We continually monitor regulations and laws specific to contractors in your state so your company stays fully protected and compliant.

General liability insurance helps cover legal fees and damages resulting from a lawsuit. Liability coverage helps shield your personal finances.

High winds collapse scaffolding onto adjacent buildings. Workers' Compensation Insurance: This coverage is essential for contractors who have employees.

General Liability For Contractors

Independent contractors can be sued and held liable for damages, just like other small business owners. Learn more about what this coverage entails here. As a contractor, your business is your livelihood. Personalizing a quote to fit the unique needs of your business is the only surefire way to guarantee you receive an accurate rate and sufficient coverage.

Stay protected with Contractors insurance from The Allen Thomas Group Commercial. As a contractor myself, I've seen firsthand how critical insurance is. Business owners can add an additional insured to their commercial general liability insurance policy.

Independent and self-employed contractors generally aren't required to carry workers' compensation insurance; however, it may be mandatory in certain jurisdictions or as part of an agreement. Protect Your Livelihood: Work with Insurance ExpertsAs a fellow contractor, I know how grueling and risky our work can be. You have the option to include attached equipment like ladder racks and permanently fitted tool boxes as part of this coverage; individual tools are usually not covered under such policies.

This guide will provide an overview of essential coverages, insurance costs, and tips for choosing the best insurance agency for your contracting business. We offer options that fit companies with 2 vehicles or 200.- Covers liability and property damage from accident claims - Provides collision, theft and natural disaster protection- Applies to all company-owned motorized equipment With decades of experience, The Allen Thomas Group Insurance Agency has developed specialized expertise when it comes to the contracting industry. Contractors should work closely with their legal team to explore settlement options that align with their best interests.3.



General Contractor Insurance - Contractual liability insurance

  1. Employment practices liability
  2. Insurance
  3. Subcontractor
  4. Directors and officers liability
  5. Aggregate limit
General Liability For Contractors
General Contractor Workers Comp Insurance
General Contractor Workers Comp Insurance

Your clients can add you to their general liability policy as an additional insured. Whether it's a slip and fall accident at a construction site or damage caused by faulty workmanship, the potential for liability claims is ever-present. But regardless, it’s a good idea to have coverage in case of accidents or theft of tools and equipment. It protects contractors from legal and financial liabilities arising from accidents or injuries that occur on the job site.2.

Contractors face numerous unique and often dangerous risks on a daily basis in their work as independent contractors. This can include legal expenses, settlement costs, and damages awarded to the injured party. We'll help you analyze risks, close gaps, and choose cost-effective policies so you can keep focused on what matters most – excelling at the work you love.

When choosing an insurance provider, contractors should consider several factors. Our Risk Control, Underwriting and Claim professionals, dedicated to your industry, are skilled in helping you better manage complex indemnity, additional insured and contractual exposures. General liability insurance provides coverage against both of these issues.

This involves having a qualified legal team that specializes in construction law and can effectively represent the contractor's interests in court or during settlement negotiations.2. Construction claims can be complex and often unpredictable, which is why The Allen Thomas Group offers a dedicated construction claim service operation dedicated to handling these unique cases. Cyber/data breach - Protects against losses if sensitive data like customer/employee records are lost or hacked.

General Contractor Insurance - Endorsement

  1. Endorsement
  2. Insurable interest
  3. Contractual liability insurance
  4. Employment practices liability
  5. Insurance
  6. Subcontractor


General Contractor General Liability Insurance

Like any other small business owner, an independent contractor can be sued and held liable for damages. Coverage for collisions, vandalism, natural disasters and theft is also included. If you drive your personal vehicle for work, you should consider hired and non-owned auto insurance (HNOA) to make sure you're protected.

Please fill out The Allen Thomas Group's online application and get in touch with one of their licensed insurance specialists to get assistance for your unique business insurance needs. This includes contracts, change orders, correspondence, and any other relevant records.

Having property damage insurance ensures that you are protected financially in case any damages occur during the course of your work. Surety bonds - Types like license & permit bonds guarantee you'll comply with laws and complete projects per contract terms.

Learn more about what general liability insurance covers. They often include general liability insurance, which covers your business if you’re liable for injuring people, damaging property or other situations. Insurable interest

Insured Contractor

General Contractor General Liability Insurance

Frequently Asked Questions

Professional liability policies fall into two broad categories, claims-made and occurrence coverages. Claims-made policies cover any incidents in which a policy was in force at the time of an event and lawsuit, while an occurrence policy will cover any incidents while the policy was active that qualify for coverage under that particular policy.

"All risk" refers to an umbrella form of coverage which automatically protects any risk that the contract does not specifically exclude; for instance, homeowner policies with all-risk policies typically provide flood damage coverage as part of their all risk package.

A policy simply sets forth terms and conditions without attaching them to specific persons, items, or interests; by contrast, contracts establish contractual obligations between two or more parties governed by contract law.

Draft an explicit scope and contract agreement with clients; this will establish open lines of communication. Secure general/professional liability coverage from The Allen Thomas Group as soon as you start operating a business.