What Insurance Coverage Should I Get As A Contractor?

​As a contractor, you are well aware of your business. You know you may carry the potential for injuries. There is also the risk of mishandling of tools and equipment. Someone can get injured, or an accident happens in your workplace. And you'll be one who will get the brunt of employee claims.

You can pay for those emergencies out of your pocket, the medical bills can pile up, and your funds can get drained. Also, you may not have enough to pay for the legal fees should the injured employee file a lawsuit. It doesn't have to reach that point as long as your employees are properly covered. Let us take a look at the types of contractor's insurance you should consider getting for your team:

General Liability 
General liability insurance protects you from any claims from third parties. Any form of physical injuries or property damage. Aside from the cost of compensation, it shoulders the legal expenses should you go to court.

This one covers damages related to faulty workmanship. Or job injuries, advertising injury or defamation. The law mandates contractors to have a minimum level of liability insurance.

Workers' Compensation 
For any accidents in the workplace, workers' compensation insurance will shoulder the expenses. This covers medical treatment, disability income and rehabilitation. Families get compensation in case of death. It also protects you from suits that the family of the injured or deceased employee may file.

Commercial Auto/Truck Insurance 
This type of insurance coverage is designed for the vehicles used by businesses. Repair costs, medical expenses, or lawsuits due to auto accidents are expensive. So, auto/truck insurance helps the policyholder pay for these expenses. It is also called commercial vehicle insurance. But isn't exclusively available for construction projects.

It usually includes liability coverage, physical damage, medical payments, or uninsured motorist coverage. Because personal auto insurance exempts the use of vehicles for business purposes.

Pollution Insurance 
As a contractor, you are expected to follow strict environmental laws. Violation of these laws may subject you to lawsuits. That could become detrimental to your business. If you are in the business of building, there is always the risk of pollution. You may find yourself in a tough legal battle. So you need additional compensation if a claim is filed.

These are just four types of contractor insurance you should consider. Getting coverage for these accidents can help employees be happy and productive.

Final Thoughts 
In an industry that is full of risk, you need to keep in mind the safety of your business and employees. Lawsuits and claims will only harm your business and its integrity.

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.