Contractors Insurance in Chester NY
Contractors insurance is a type of business insurance that may provide financial assistance in case of unexpected problems. It’s not usually a one-size-fits-all policy. Instead, contractors often need to combine a few types of coverage to get the financial protection they need.
What Does Contractors Insurance Cover?
Coverage needs can vary depending on the kind of work a contractor does. An insurance agent may recommend the following types of coverage:
- General liability insurance may help cover costs if the contractor’s work causes other parties’ injuries or property damage.
- Business property insurance may help pay for repairs or replacements if tools, equipment or materials are damaged or stolen.
- Workers’ compensation insurance may cover medical bills and lost wages if an employee gets hurt or sick because of the job.
- Builders risk insurance may cover damage to buildings while they’re still under construction.
- Errors and omissions insurance may help cover legal costs if a contractor is accused of making a mistake or missing a deadline.
- Commercial auto insurance may help pay for damage or injuries if a work vehicle is involved in an accident.
Who Should Have Contractors Insurance?
Any contractor should think seriously about getting insured. Some types of coverage, like workers’ compensation and auto liability, are required by law in many places. Additionally, clients often expect contractors to have insurance before they sign a contract.
Contractors Insurance Agents Near You
The insurance professionals at Morais Agency can help assess your coverage needs and recommend customized solutions. Contact us today to learn more.