Contractor’s Insurance Coverage during COVID-19

​The contractor’s insurance is one of the most critical insurance policies you can get, especially if you have a construction company or business establishment. However, insurance coverage has had a significant change due to the emergence of COVID-19. Here are some of the essential points that you need to know about the contractor's insurance coverage during the pandemic.

1. Take Note of What Could Be Affected
   First, you have to be aware of what could be affected by the Coronavirus with regards to your entire business entity. For example, you will need coverage for health and hospitalization needs due to the virus. They have specific rules regarding this. Try to be aware of the common rules.
   
   
2. Fold Your Contractors Insurance into Your Business Policy
   Ensure that business interruption solutions are covered just in case COVID-19 causes you to shut down for a significant amount of time. The contractor's insurance policies can be folded into business insurance because the virus does not only affect property and establishments but, more importantly, the people.
   
   
3. Include As Many Of Your Employees As Possible
   You should also include your subcontractors as well as the prime ones into the policy. This way, they will get the same benefits without having to file another application down the line. If you do this, your contractual employees will love you even more.
   
   
4. Extend Coverage Limits
   Try to provide extensions for the insurance policyholders. These extensions should apply not only for members of your team but also for their families. This way, you can be assured that the contractors will feel safe to return to work whenever the pandemic eases up.
   
   
5. Try To Apply the Policy to Independent Workers as Well
   If you can, you should also apply the policy to independent contractors. Typically, independent contractors should not get the benefits and protections afforded by the Contractor's Insurance Coverage. However, as a gesture of goodwill, you, as an employer, should try to find a way to have those independent employees also get benefits from your company's insurance coverage to help them get through this trying time.
   
   This way, both independent and official employees will not hesitate to work for you during or after the pandemic.

Conclusion
The contractor's insurance is there to protect the workforce from unemployment or lack of benefits due to the coronavirus pandemic and subsequent quarantine. As an employer, you should be able to provide them with a safe and mutually beneficial policy that can help them survive this crisis as quickly as possible.

At Black And Associates Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (509) 464-0058. Get your free quote today by CLICKING HERE.