The Nuts and Bolts of Contractor’s Insurance

The success of your business depends on the quality of your business insurance.  Business insurance is designed to protect your business in the event of an unexpected claim.  We can create a contractor’s insurance program that is designed for your unique operation.  Here are a few of the kinds of contractor insurance you need.

• The basic contractor insurance program should include property, commercial liability, auto, equipment coverage, and excess liability.
• Contractor’s bonds. A contractor’s license bond is a license and permits bond that is designed to assist all types of contractors.  In many states, contractor bonds are required and help ensure that the contractor will operate in compliance with the local statutes as well as laws.
• As an independent contractor, you may need to have worker’s compensation insurance. Worker’s comp regulations are mandated state by state.  If you are in business for yourself and you do not have employees, you are most likely not required to buy worker’s compensation insurance.
• Contractor tool/equipment coverage. Your tools are part of your business; make sure they are insured to full replacement cost.
• Contractors Errors and Omissions coverage. Every contractor has this exposure.  If you provide any advice on your job, you have professional liability risk.
• Employment Practices Liability (EPLI) coverage. An EPLI policy covers claims made against directors, officers, employees, the company, and its subsidiaries.  The policy can cover a long list of claims, including wrongful dismissal/termination, sexual/racial/disability harassment, sexual/racial/disability/religious discrimination, employment-related libel, slander, defamation, invasion of privacy, wrongful failure to employ or promote, and retaliation.
• Workers’ Compensation. Workers’ compensation insurance is insurance that provides lost income, medical benefits, disability benefits, and rehabilitative services for workers injured on the job or while performing work-related duties.

Your business needs protection provided by a company and insurance advisor that you can trust.

Dahlmeier Insurance Agency, Inc. provides insurance to construction businesses in Chico, Oroville, Paradise, Durham, Gridley, Orland, and surrounding areas.

Just like any other business, your construction business needs core insurance offerings to go along with industry-specific coverage. Expensive equipment and tools, and possible injury, should be taken into account when thinking about what type of coverage may be necessary in the construction industry.

Dahlmeier Insurance Agency, Inc. coverage options for construction businesses include:

• Liability insurance
• Property insurance
• Business vehicle insurance
• Workers’ compensation
• And much more

Contact an insurance specialist at Dahlmeier Insurance Agency, Inc. today to go over these options and many more!