As a contractor, you spend your days installing things, building things, and perhaps even fixing things. Each work site presents different risks, so it makes sense that you would need coverage as unique as your job is. At Insurance Broker Direct, we help contractors find commercial insurance solutions that hold up to your day-to-day grind. From your tools and property to your liability and employees, we have the coverage you need to worry less about setbacks and financial loss.
Our independent agency connects clients like you to multiple leading Indiana insurers ready to compete for your business. You get access to multiple quotes combined with the one-on-one service you expect from a dedicated agent. That means customized coverage based on the type of jobs you take, the size of your contracting business, and your plans for potential expansion and growth in the future.
We want to be your source for commercial coverage if you work as a:
- HVAC contractor
- Or any other contracting field
Contractor Risks and Coverage Types
When you went into business as a contractor, you were thinking about the possibilities – not the risks. You never know, however, when your work truck could be stolen or your tools could be destroyed in a fire. There is also the possibility that you or someone who works for you could be injured or cause damages to a customer’s property. At Insurance Broker Direct, we recommend hoping for the best while preparing for the worst.
It doesn’t matter if you have been working as a contractor for decades or are just starting up your first service company, your insurance needs are probably drastically different than those of other businesses. There are, of course, broad risks that are common to all contractors, as well as niche hazards that are unique to the types of services you provide on a daily basis. As such, your insurance may include several different types of commercial protection, some of which include:
General Liability Insurance
This is the coverage that helps pay for your legal defense and court costs if you are sued for third-party injuries and property loss. This could include slip-and-fall incidents at your office or perhaps an accident that happens on the job site. General liability insurance can also help cover your financial responsibility up to the limits of your policy if your business if found liable for the damages. Given that some commercial lawsuits can total hundreds of thousands of dollars for even minor to moderate injuries and losses, having the right general liability protection could protect you against financial disaster.
Workers Compensation Insurance
When workers are injured on the job, workers compensation insurance helps pay for their necessary medical expenses and also helps replace lost income, regardless of who was at-fault for the incident. Not only does this protect the worker, but it also helps safeguard your business against employee injury-related lawsuits and liability.
Commercial Property Insurance
The things you own keep your business running. From the building you operate out of to your signage, furnishings, computer, and office supplies, commercial property insurance protects your business property against certain types of loss, such as fire, wind, and vandalism.
Commercial Vehicle Insurance
Whether you operate out of a single pick-up or have a whole fleet of work trucks, protect your vehicles against damage with a commercial vehicle insurance policy. This coverage helps safeguard your investment in your tow trucks, dump trucks, and other vehicles, as well as protects you against accident-related liability.
Employee Dishonesty Coverage
You may have a careful interviewing and screening process, but at the end of the day, there is no way to know how honest your employees are until they start working for you. If your electrician apprentice swipes jewelry from the home of a client, employee dishonesty coverage can help protect your business against financial liability.
Professional Liability Coverage
You may consider yourself the best in your industry, but even the most experienced contractors can make professional errors. Professional liability coverage helps cover client injuries and property damages due to inadequacies in your completed job or being negligent in your work.
Tools and Equipment Coverage
Some contractors work with tools that fit neatly in a box. Others require a convoy of complex equipment, from bulldozers and loaders to forklifts and more. Tools and equipment coverage helps compensate you for damages to your equipment on the job site and when you are carrying them in transit.
Builders Risk Coverage
If your contracting jobs take many weeks, you may be responsible for the integrity of the job site until the owner signs on the dotted line. Builders risk coverage helps protect your project against high winds, fire, and other types of damage and loss during the construction phase.
Excess Liability Insurance (Commercial Umbrella Coverage)
Despite having several different types of high-limit liability insurance to protect you against possible financial damages, sometimes lawsuit costs and settlements can exceed the limits of your coverage. That is why we recommend talking with your agent about adding excess liability protection to your insurance line-up. This coverage can extend your liability limits by millions of dollars, allowing you to continue business as usual despite expensive litigation.
Lafayette Contractors Insurance
Contractors cannot afford to be without adequate coverage. At Insurance Broker Direct, we can help you customize your commercial coverage with insurance solutions that protect your income and assets and support the continuity of your business for years to come. To find out more about how an independent agent can help you protect your business and save on the coverage you need, contact our office today. We look forward to serving you soon.