If you work as a contractor, you need to take extra steps to insure your livelihood and your well-being. In the event of a work-related accident, finances and debt are the last things you want to worry about. Make sure you’re protected under a comprehensive contractors insurance plan.
Common trades covered by contractors insurance include:
- HVAC technicians
- Related trades
Do I need contractors insurance?
You should look into a contractors insurance policy if you are a contractor, subcontractor, or an independent tradesman. If you work independently, it will protect you and your business; but if you’re looking to work for someone else, many employers require you to have contractors insurance coverage. Regardless, it’s wise to be covered in case of accident.
If you run your business out of a commercial property, consider a package plan which includes coverage for commercial property like business owners insurance. And if you have employees working under you, you may want a workers compensation plan. If you’re not sure what kind of coverage you need, get in touch with State Wide Insurance and we’ll help you find the right coverage.
What does contractors insurance cover?
There are as many different types of coverage plans as there are types of contract work. A plumber won’t need the same specific types of coverage as an HVAC technician, and so on. Therefore, the exact coverage and type of coverage will vary based on your trade.
One type of basic coverage that’s included is general liability. This financially covers you and your business from:
- injury on the job
- customer injury
- damage to a customer’s property
- related lawsuits
Commercial Auto Insurance
Most basic policies also include commercial auto insurance. This protects vehicles used for work or to transport materials. You can also cover attached equipment, such as ladders and permanently attached toolboxes. However, the individual tools or materials transported in the vehicle are not covered by this policy.