When you work as a contractor, you are typically required to carry certain types of insurance, either by law or by the clients you serve. This insurance not only covers your tools, materials and other assets in the event of damage, but it also protects you from liability when accidents occur on the job. Thus, purchasing an appropriate amount of contractors insurance is essential.
The term “contractors insurance” refers to several different types of insurance coverage. Some of these policies include:
A general liability insurance policy protects you from liability in the event of an accident that causes property damage or personal injury. For example, if you or one of your employees injures another party while on the job, your general liability insurance will cover the expenses related to the injury.
Property insurance covers the tools, equipment and other important assets that you need to operate your business. If your property is lost, damaged or stolen, you can file a claim against your insurance policy for reimbursement. Property coverage can also be provided for buildings under construction including jobsite materials (builder’s risk insurance).
If you use trucks, cars or other vehicles for business purposes, you should also purchase a business auto insurance policy. Not only is this type of policy required by law, but it can also protect you from liability in the event of an accident.
Marine Agency offers all types of contractors insurance for contracting and construction professionals, including:
We also offer all types of bonding, including performance bonds, bid bonds and license bonds.
Don’t leave your business unprotected. Contact Marine Agency today to learn more about contractors insurance or to request a free quote.