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Contractor Insurance

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Contractor Insurance Provided By Our Agency

Client lawsuits are more common than you think; it’s estimated that 43% of small business owners have reported being threatened with or involved in a civil lawsuit. Contractor insurance can offer significant peace of mind if a customer decides to sue you over your services, even if you did nothing wrong.

What is Contractor Insurance?

Contractor insurance is a term used to describe a bundle of policies that provide comprehensive coverage for general contractors. This coverage protects you from the most significant risks you face in your job, like property damage and injuries.

In the unfortunate case where you are held responsible for damages to a third party — such as an individual or a building property — you would be required to cover the entire cost of the injuries and damages. But, again, having a policy will help you cover the cost of damages, including potential legal defenses.

Who needs Contractor Insurance?

Contractors, subcontractors, and independent tradespeople should carry commercial insurance. It not only protects your business but is often a requirement by many employers before you can start working for them. Common trades that need contractor insurance include:
  • Construction
  • Carpenter
  • Plumber
  • Electrician
  • Landscaper
  • Painter
  • Handyman
  • Heating & Air
  • Mason
  • And more!
    It’s always good to have insurance in case of mishaps, even if you don’t contractually need coverage.

Why should you get Contractor Insurance for your contractor business?

As a business owner, we get that you’re probably trying to budget as much as possible. That’s why it may be tempting to put off getting contractor insurance or avoid it altogether, especially if you don’t feel like it adds any value to your business.

But here’s the thing: General contractors like you are at risk of property damage claims that can be catastrophic to your finances.

For example, suppose you get sued for accidentally causing significant property damage to a customer’s home. If you are not adequately insured, you may have to pay for legal fees and damages out of your pocket – or your family’s finances.

Contractor insurance can offer significant peace of mind if a customer decides to sue you over your services, even if you did nothing wrong. Client lawsuits are more common than you think; it’s estimated that 43% of small business owners have reported being threatened with or involved in a civil lawsuit.

Additionally, many states require contractors to carry insurance, especially if they have employees or work on specific projects. Plus, you must show proof of insurance to be licensed as a contractor.

Oh, and one more thing: Many customers won’t work with you if you’re not licensed and insured. There’s a lot of advice that warns people to only work with insured contractors, so it’s a good idea to get this coverage if you want to increase your clientele base.

Contractor insurance depends on various factors like the types of projects you work on, where your projects are located, your payroll and the kinds of jobs our employees do, and the number and types of vehicles you use at work. It can get confusing sometimes; we can help you package your contractor insurance. Talk to us today to know more.

Already have Contractor Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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K & J Insurance LLC

We extend coverage to individuals and businesses throughout Indiana in Winslow, Otwell, Oakland City and Monroe City and surrounding areas.
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