Workers Compensation For Independent Contractors

Workers Compensation For Independent Contractors

Installation floater

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. It protects against claims of negligence, errors, or omissions that may result in financial loss for clients.

Specific details, limits or services may not be available to every business in all states; all coverages are subject to their terms, provisions, exclusions and conditions outlined within a policy or endorsement and any associated endorsements.

Unlearn six ways contractors can effectively manage their cost of risk to improve their bottom line, reputation and worker safety.

Workers' compensation insurance covers medical costs and lost wages from work-related injuries and illnesses.

Workers Compensation For Independent Contractors - Auto liability insurance

  • Claim
  • Professional liability
  • Workers' compensation insurance
  • Rental property insurance


The Allen Thomas Group Contractor Insurance .

Contract requirements - Many construction contracts require you to carry certain insurance limits and name the client as an additional insured. Errors and Omissions Insurance, also referred to as E&O or professional liability coverage, provides protection in case an unhappy client sues over your work. As an independent insurance agency, The Allen Thomas Group has the experience, carrier access and resources to protect contracting businesses. Settlement Negotiation: It is essential for contractors to understand the art of negotiation when it comes to settling legal claims. A certificate holder is simply the business or contractor that carries the coverages as described on the certificate of insurance.

Workers Compensation For Independent Contractors - Named perils

  1. Deductible
  2. Auto liability insurance
  3. Claim
  4. Professional liability
  5. Workers' compensation insurance
  6. Rental property insurance


Timelines, change orders and contract administration can add additional stressors. For the self-employed and independent contractors, your personal auto insurance might not cover you when you drive your own vehicle for business use. They can be sued for damaging client property, causing bodily harm, or advertising injury. The type of contracting business you own as well as its size and location will affect the types of insurance you may need.

Independent contractors in these fields must also have this protection. Skilled negotiation can help contractors reach favorable settlements, avoiding lengthy and costly court proceedings. S.- Custom packages and bundled pricing to maximize savings- Complimentary annual policy reviews to ensure adequate, up-to-date coverage- Quick quote turnaround so you can win bids and take on projects- Top carrier relationships for coverage at competitive rates- In-house claims team for responsive, hands-on assistance- Risk management guidance to proactively avoid claims Operating a successful contracting business today means being vigilant against an ever-growing set of risks and liabilities. Comprehensive contractor insurance is essential to protect yourself, your business and your bottom line.

Given the growing trend of employees working from home due to pandemic influenza, is your business prepared for all its potential repercussions? This policy pays for damage to the ongoing project itself - like the structure, materials, fixtures and any equipment being installed. Standard limits are $1 million liability/ $1 million uninsured motorist. Performance Bonds guarantee your work will be completed per the contract's terms.

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Bonds And Insurance In Construction

This protection is required by law in most states. Without General Liability Insurance, you would be fully responsible for sometimes exorbitant legal fees, medical bills, repair costs and any awarded lawsuit damages. That's why it's critical to protect your business with comprehensive insurance coverage.

Firstly, they should ensure that the provider specializes in contractor liability insurance and has a strong reputation in the industry. You have the choice to cover attached equipment, such as ladder racks and permanently attached tool boxes.

If a third party sues the additional insured over work done for the business, the general liability insurance policy can address the claim. With a policy from The Allen Thomas Group, our team would appoint legal counsel to defend you, and insurance will cover the expenses up to your defined limits.

Your cost is based on a few factors, including:You can get your own general liability policy. Workers' Compensation Insurance transfers this liability to an insurance provider.

Bonds And Insurance In Construction
Workers Comp For Contractors

Workers Comp For Contractors

Commercial Auto Insurance covers the array of motorized equipment contractors rely on including dump trucks, cranes, bulldozers and tractors. Those who offer professional advice and services buy this coverage in case a client accuses them of making a mistake, missing a deadline, or failing to deliver on a contract. We pride ourselves on service with a 97% client retention rate. Documentation and Evidence: Contractors need to maintain accurate and comprehensive documentation throughout the project lifecycle. Contractors insurance provides your business with essential protection against financial debt incurred as the result of work-related accidents, and should provide adequate coverages that match its exposure should your livelihood be compromised.

Fifty-three percent of contractors report that it is difficult to fill professional positions such as project supervisors, estimators and engineers. The Allen Thomas Group can swiftly secure customizable Bonds at competitive rates to help you bid on lucrative contracts and grow your business.- Required for bidding on most public and commercial projects- Guarantees you will complete work per contractual terms - Shows financial capacity to take on major construction workKeep Your Crew Covered with Workers' Comp Insurance Employing any workers instantly opens you up to responsibility for job-related illnesses and injuries. The Allen Thomas Group does just that, providing in-depth, ongoing service and advice to keep our clients protected and empowered to grow. General liability is typically needed before a contractor can begin work on a job.

An additional insured may be covered when sued for bodily injury, property damage and advertising injury claims. A 1099 worker hired for a photo shoot could face copyright infringement while remodeling contractors risk potentially injuring homeowners during work. But it can also include other coverages like commercial auto, workers’ compensation and business owners policies. Professional liability - Required for design/build contractors and covers mistakes in your professional work that lead to property damage or financial loss (gaps in coverage, delays, inferior work).

Our extensive, tailored coverages and enhancements are based on our decades-long expertise in construction as well as specifically tailored coverages tailored specifically for individual customer needs. Your clients or the general contract could have a blanket additional insured endorsement on their policy, which extends coverage to a type of worker or a group of people, without naming you specifically. Contractors insurance is coverage that can protect your business from devastating financial debts that can result from work-related accidents. The amount you pay is based on several different factors like the amount of coverage you need, your specific trade and your location.

Owner And Contractors Protective Liability

Certain The Allen Thomas Group companies may be compensated as licensed agencies for performing services on behalf of these insurers. Health insurance can deny claims for work-related injuries, which means you could end up facing medical bills and lost income while unable to earn a living.

Workers Compensation For Independent Contractors - Installation floater

  • Named perils
  • Deductible
  • Auto liability insurance
  • Claim
  • Professional liability
  • Workers' compensation insurance


It's a necessary cost of doing business.

Artisans & Service Contractor Insurance protects against:
This information provides only a general outline of available types of business insurance and should not be considered a contract.

Property damage - Accidents happen.

Owner And Contractors Protective Liability
Cheap General Contractor Insurance
Cheap General Contractor Insurance

Insurance costs and benefits of independent contractors vary significantly across industries.

Workers Compensation For Independent Contractors - Installation floater

  1. Auto liability insurance
  2. Claim
  3. Professional liability
  4. Workers' compensation insurance
  5. Rental property insurance
  6. Business interruption
Builder's risk and equipment/tools coverage protects you if items are damaged or stolen at a job site.

Coverage for damage to other nearby properties caused by the construction is also included.

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

Provides protection for fixed property under construction and equipment used during construction, whether it is in transit, in storage or at the jobsite.

Home Improvement Contractor Insurance

From employee injuries to damaged property, lawsuits and claims can easily arise, putting your hard work and livelihood at stake. Ask your The Allen Thomas Group agent about the cost and benefits of getting your own insurance coverage versus being added to your client’s policy. Professional advisors who offer advice or services typically purchase this protection just in case a client accuses them of mistakes, missed deadlines, or failing to deliver their contracts as contracted.

Our experts make the process smooth and worry-free so you can continue growing your business. If you own or rent a workspace, or if you have expensive equipment, inventory, and other business assets, commercial property insurance would help pay for the repair or replacement if your business property is stolen, damaged, or destroyed.

Your work is covered by a blanket additional insured endorsement on your clients or general contract's policy, providing coverage to a type of worker or group without specifically naming you or others as individual beneficiaries. Having coverage shows you are an established company with the capacity and experience to handle major jobs.

It protects them in case their business is found responsible for harming people, damaging property or producing substandard work.
 People who work for themselves without employees generally aren't required to carry workers' comp insurance, but it would still be wise to purchase coverage as health insurers may deny claims related to work-related injuries and could leave you facing costly medical expenses and lost income while you can't work.

Contractors Insurance Services

Home Improvement Contractor 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.

Professional liability insurance protects businesses when employees make mistakes in providing professional services to customers or clients, also known as errors and omissions insurance (E&O). Even though you're an expert at what you do, mistakes still happen!

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.