Types Of Insurance Every Contractor Should Have

​Electrical, plumbing, or construction contractors all run a very high danger of getting hurt. Employers must simultaneously monitor numerous moving parts because the task requires many workers and equipment to finish it on time. Having the appropriate insurance for contractors helps reduce dangers like legal action and medical bills.

A contractor should have the following insurance policies, or at least consider doing so:

1. General Liability Insurance
   General liability insurance plans often cover your firm and you for claims involving personal harm and property damage from your activities, services, or goods. It might also protect you if you are accused of causing harm to your client’s property.
   
   The good idea is to combine general liability insurance with professional liability insurance since it's crucial to remember that it does not cover damages brought on by professional carelessness.
   
   
2. Insurance for Professional Liability
   Professional liability insurance covers professionals from client-initiated allegations of negligence and other wrongdoing. Claims of malpractice from an internal source or a third party are insured, which significantly lessens the strain in those stressful situations, even though the coverage only covers the damages that result in financial losses and excludes the expense of redoing the project.
   
   
3. Auto Insurance
   The insurance for trucks and cargo extends to all kinds of vehicles, such as dump trucks, small automobiles, trailers, and trucks. It is advised to get commercial auto insurance if the vehicle is utilized on public roads in the county where it was registered. 
   
   Auto liability insurance covers any third-party claims for harm, loss, or damage and all associated legal expenses spent while the claims are adjudicated in court.
   
   
4. Insurance for Workers' Compensation
   Contracting work frequently entails significant physical dangers, eventually resulting in on-site accidents. Being financially responsible is the last thing you want, especially if one of your employees is involved.
   
   This form of policy may provide coverage for medical care, disability income, rehabilitation fees, as well as payment to the relatives of deceased workers.
   
   
5. Pollution Insurance for Contractors
   Contractors constantly run the possibility of being sued by other parties for breaking such environmental rules, given the constant risk of pollution whenever a builder operates. Builders and other contractors can be protected from these claims, which could harm their business. 
   
   
6. Entrepreneur's Policy
   BOPs may cover completed and ongoing improvements whether the property is rented or owned.

Conclusion
To meet your demands, we always go above and beyond. We will give you the focused attention you require while seeking insurance when you call or visit our Spokane office at your earliest convenience.

At Black And Associates Insurance Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (509) 464-0058 or Click Here to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!