Contractors Insurance in Durham, NC, and Raleigh, NC
Construction contractors, from builders to machinists, plumbers or electricians, work in one of the most sensitive and high-risk industries out there. They must meet high standards of professionalism and produce quality craftsmanship to meet the needs of their clients. They also must protect themselves from the numerous safety risks that threaten them at every worksite.
To optimally protect yourself and your operations, you will need to build a customized insurance package. There are multiple policy options that a contractor needs and the agents at All About Insurance are experts in helping you develop the quality benefits that will optimize your protection.
Don’t wait to build your contractors insurance policy. Just give us a call at (919) 321-2886 or fill out an online quote form today.
Common Contractors Insurance Questions
Contractors are the same as any other business owner. They have assets and liabilities that they need to safeguard with quality insurance coverage.
No matter how carefully you operate, you cannot prevent numerous risks of property damage, lawsuits or other operational losses. The right commercial insurance options, customized to your company’s objectives, will help you afford the costs of multiple hazards that could arise at any time.
Every contractor is different, which is why you will have to design a personalized insurance portfolio. Our agents are happy to work with you to help you find the right combination of policies.
Some of the plans to consider buying include:
- Property Insurance: This coverage will insure your company assets — such as buildings, stock, inventory, equipment and furnishings.
- General Liability Insurance: Your mistakes might cause property damage or bodily harm to others, such as your customers. When these accidents occur, your policy can help you compensate that party if they sue you for their losses.
- Business Interruption Insurance: If an unexpected accident forces you to halt operations temporarily, then this coverage can help you pay overhead expenses until you reopen.
- Commercial Auto Insurance: Vehicles owned by your business must adhere to state auto insurance laws. You can use this plan to cover the costs of wrecks or other hazards.
- Professional Liability Insurance: When your professional mistakes or advice cause a client financial harm, this coverage pays for your recovery costs.
- Builder’s Risk/Inland Marine Insurance: Projects in progress, and the materials associated with them, will have coverage against such perils s fires, vandalism and severe weather damage.
- Workers Compensation Insurance: You will likely be required to buy this coverage. It helps you compensates employees for medical expenses and lost wages after an on-the-job injury.
- Surety Bonds: A surety bond is a legal guarantee that obligates you to repay your clients if you fail to meet the obligations guaranteed by your contract.
- Equipment Insurance: To protect employee equipment and other essential items, you will need to make sure they have the appropriate coverage.
Other types of coverage available might vary by plan.
If you are looking for a convenient way to get many essential types of coverage in one place, then consider buying a Business Owners Policy (BOP). These are packages of insurance coverage that are designed to meet the coverage needs of small business owners at affordable costs.
Every business insurance policy will include terms, conditions and limitations on who, what, when, where, why and how they will pay for claims. That’s why you will need to work with our agents to customize your insurance portfolio to your benefits. We can tailor your various policies to your benefit by working one-on-one with you to determine exactly where your risk management priorities lie.