Stay protected with contractor insurance from The Allen Thomas Group Commercial. Call or start an online quote now. Firstly, they should ensure that the provider specializes in contractor liability insurance and has a strong reputation in the industry. It could cover you if your business is liable for things like injuring people, damaging property or faulty work. Different industries pose distinct risks.
General Contractor Insurance Coverage - Blanket coverage
- Retroactive date
- Contractual liability
- Commercial auto insurance
- Rental property insurance
Different industries pose distinct risks.
Learn six ways contractors can effectively manage their cost of risk to help improve their bottom line, their reputation and worker safety. This is where Surety Bonds come in - providing a guarantee you will meet all contractual obligations. State regulations sometimes require independent contractors in certain industries, such as construction, to carry general liability coverage. Having coverage shows you are an established company with the capacity and experience to handle major jobs. Having coverage shows you are an established company with the capacity and experience to handle major jobs.
Your clients or the general contract could have a blanket additional insured endorsement on their policy, which extends coverage to a type of worker or a group of people, without naming you specifically. If you plan to purchase both general liability and commercial property coverages, one way to lower costs is through a Business Owner's Policy (BOP). Coverage for collisions, vandalism, natural disasters and theft is also included. It protects them in case their business is found responsible for harming people, damaging property or producing substandard work. It protects them in case their business is found responsible for harming people, damaging property or producing substandard work.
It's mandated in most states with rare exceptions. It's a necessary cost of doing business. It protects your small business from the high costs of lawsuits and helps you qualify for leases and contracts. It combines both coverages under one policy, and usually has lower insurance premiums than buying each policy separately from the insurance company. It combines both coverages under one policy, and usually has lower insurance premiums than buying each policy separately from the insurance company.
