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Contractors play a vital role in building, repairing, and improving our homes and businesses. Whether you’re a general contractor overseeing large projects or a specialized tradesperson focusing on electrical work, plumbing, or carpentry, having the right insurance coverage is crucial. At Encharter Insurance, we understand the unique risks contractors face and offer tailored policies to keep your business protected. If you have any questions, contact our office at 413.475.7283 or Complete our online quote form today!
Why Contractors Need Insurance
Working as a contractor comes with inherent risks. From accidental property damage to job site injuries, the right insurance coverage can safeguard your livelihood and provide financial security in case of unexpected events. Without proper insurance, contractors could be held personally responsible for costly claims and legal fees.
Essential Insurance Coverages for Contractors
Depending on the nature of your work, different types of insurance may be necessary. Here are some of the key coverages contractors should consider:
This coverage protects against third-party claims for bodily injury, property damage, and personal injury. For example, if a client or passerby is injured at your job site, general liability insurance helps cover medical costs and legal expenses.
Workers’ Compensation Insurance
If you have employees, workers’ compensation insurance is essential. It provides coverage for medical expenses and lost wages if an employee is injured while on the job, ensuring compliance with state laws and protecting both your workers and your business.
Contractors often rely on vehicles to transport tools, equipment, and materials. A commercial auto policy covers accidents, damages, and liabilities related to business-owned vehicles.
Your tools and equipment are essential to your work. This type of coverage helps replace or repair tools that are lost, stolen, or damaged, so you can keep your business running smoothly.
Professional Liability Insurance
Also known as Errors & Omissions insurance, this coverage is important for contractors who provide design, consulting, or specialized services. It protects against claims of negligence or mistakes that result in financial losses for clients.
For contractors involved in construction projects, builder’s risk insurance covers materials, structures, and equipment during the course of construction. It provides protection against theft, vandalism, and damage caused by weather events.
Find the Right Coverage for Your Business
No two contractors are the same, which is why Encharter Insurance offers customized policies tailored to your industry and specific needs. Whether you’re a general contractor, electrician, landscaper, or painter, we can help you find the right coverage to keep your business protected.
For more information on contractor insurance options, visit https://encharter.com/business-insurance/insurance-by-industry/contractor-insurance/.
Chat with an Encharter agent about your insurance today:
