A contractor’s job can be one of the most extensive careers out there. Like in many fields of work, there can be risk involved on a daily basis. As a business owner–and an employee whom is a contractor under a business–insurance coverages must be met for both.
The tools and equipment that contractors use are valuable to the individuals and company that work is being completed for. Regular on-the-job risks include: medical costs resulting from an injury, claims of property damage, stolen tools, and or wages lost while injured. It’s crucial to have policies, coverages, and contracts put in place that ensure everyone is covered if an unfortunate situation arises.
For business owners, it’s imperative to have certain types of insurances put into place for the company. In the case of a lawsuit, if an employee was to get injured on the clock at your company, makes false claims, or unexpected expenses are incurred, business owners could risk losing their business. Business insurance helps keep you covered in this unwelcome event.
Insurance types for contractors and business owners:
General Liability Insurance This can sometimes be referred to as “commercial liability”. This protects businesses from accidents, property damage, another person or businesses claims, and lawsuits.
Workers Compensation Insurance This can protect the employee if an accident were to occur while being on the job. Providing benefits to your employees for work related injuries, wages lost, or using a company vehicle for work. Workers compensation ensures that your employee is covered so you can avoid a possible lawsuit against your business.
Types of contractors that can benefit from business insurance:
- Carpenter
- Construction worker
- Electrician
- Handyman
- HVAC technician
- Painters
- Plumbers
Choose SIG for the best coverage and advice:
If you are a business owner or contract worker that is seeking business insurance advice, contact Stone Insurance Group at (832-403-2066) or kelly@stoneinsurancegrp.com to find out how our insurance policies can benefit you and ensure you are covered.