As you go about your day-to-day work as an electrician, lawn care provider or carpenter - let us work behind the scenes to protect your small business with Artisan & Service Contractor Insurance from The Allen Thomas Group.
Contractors need to purchase vicarious liability coverage to protect them against vicarious liability resulting from ongoing operations performed or managed negligently by the designated "contractor".
A Business Owner Policy (BOP) combines contractors liability coverage, personal property coverage and building coverage into one comprehensive policy. As self-employed or independent contractors, self-use of personal vehicles for business use may void their personal auto policy. Without proper liability insurance coverage, contractors risk facing significant financial losses and potential lawsuits, which can have a devastating impact on their businesses and personal finances. Business income - Covers income lost due to suspended operations from a covered loss. Our team of experts can work with your budget to help you secure customized commercial auto and business insurance policies.
A roofing contractor, for instance, might face risks that an HVAC technician doesn't and vice versa; hence you could expect their rates to vary accordingly. When it comes to contractor insurance, it is important to understand the different coverage options available. Errors and omissions insurance, also known as E&O or professional liability insurance, can offset the cost of a lawsuit if a dissatisfied client sues you over your work. Our team of specialists can work within your budget to find tailored auto and business policies.
General liability insurance costs an average of $42 per month for The Allen Thomas Group customers. In addition to commercial general liability insurance, independent contractors may need other types of small business insurance, including:Every state requires this coverage for vehicles that are registered to a business, or the ability to compensate someone in case of an auto accident.
Other factors affecting contractors insurance costs are employees, coverage needs, vehicles, location and claims history. It protects your small business from the high costs of lawsuits and helps you qualify for leases and contracts. The additional insured can receive coverage for lawyers’ fees, court costs, and settlements or judgments. Stay protected with contractor insurance from The Allen Thomas Group Commercial. Coverage Options AvailableContractors have various coverage options available to protect themselves against accidents and injuries.
The foundation of a contractor's insurance program is General Liability Insurance. Liability insurance provides contractors with financial protection against claims arising from bodily injury or property damage during their work. Don't leave anything to chance. We understand the daily risks you navigate and offer tailored coverage.
Without it, they could be held liable if something were to go wrong during work related activities and lead to claims being brought against them for potential wrongdoings or accidents caused by you and/or your work. Workers' compensation - Pays for medical treatment and lost wages for employees injured on the job. State regulations often mandate independent contractors in certain industries, like construction, to carry general liability coverage. An employee is injured while on the job.
Coverages provided by contractors insurance can differ depending on the business in which they're being insured, but typically include general liability coverage to protect you in case anyone gets hurt, property is damaged or other unfortunate incidents arise.
It provides financial protection by covering legal fees, medical expenses, and damages. Being held liable for repairs or replacement on a large-scale project could be financially devastating without Builders Risk Insurance. Essential if a fire or storm damages your office. At The Allen Thomas Group, our trusted advisors will analyze your business risks and recommend comprehensive policies to protect you. Typical limit is $1 million.
That's why The Allen Thomas Group has a specialized construction claim service operation to focus on these unique claims. It protects you in the event of lawsuits, employee injuries, damage to 3rd party property, etc. All content and materials are for general informational purposes only. It protects your business and is often required by many employers before you can start working for them.
Commercial auto policies provide coverage for vehicles used to transport work-related materials or tools for contractors. Protect against lawsuits and other liabilities with contractors insurance from The Allen Thomas Group. Property insurance protects your assets in a loss. Equipment insurance Artisan and service contractors insurance through The Allen Thomas Group protects against:This is only a general description of coverages of the available types of business insurance and is not a statement of contract.
It could cover you if your business is liable for things like injuring people, damaging property or faulty work. Retroactive date You've worked hard to build your company and reputation.
Having the right property damage insurance coverage is essential for contractors to protect themselves and their clients from potential liabilities. Independent contractors typically have insurance obligations in their work contracts that they have to fulfill. Superior service - Your agent should make insurance easy through fast response times, hassle-free claims handling, comprehensive risk management, and year-round policy review. Therefore, it is crucial for contractors to secure comprehensive liability insurance coverage to protect themselves and their clients from potential accidents and injuries.
As a fellow contractor, I understand how confusing and overwhelming navigating insurance options can be. Are you a contractor looking to protect your business and assets? An expert agent can evaluate your unique risks and recommend optimal limits and additions like umbrella policies.
An additional insured may be covered when sued over bodily injury, property damage, and advertising injury. The information provided on this website does not constitute insurance advice.
General liability insurance costs an average of $42 per month for The Allen Thomas Group customers, but this figure varies based on several factors such as:Your own general liability policy is accessible via multiple avenues: commercial general liability insurance can be obtained from business insurance providers or agencies; to show clients you're protected, request a general liability certificate of insurance instead; this option tends to be more cost-effective for them.
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.