Contractors Insurance

Businesses need a variety of insurance policies to stay financially protected from the unexpected. There are many risks involved with running a business, but the right insurance policy can make all the difference. The professionals at Bruening Insurance Agency make recommendations and explain the various available coverages, including contractor insurance. 

What Is Contractor Insurance? 
Contractor insurance is a package of policies that protects a construction business from financial loss. Most contractors have a few different policies to protect them against various risks. Some situations where it helps to have coverage include the following: 

• If a claim is made against the business 
• If an employee is injured on the job
• If equipment is damaged
• If a company-owned vehicle is involved in an accident 

What Does Contractor Insurance Cover? 
Contractor insurance packages include a wide array of policies, depending on how big the business is, where it is located, the type of work being done and legal requirements. Some of the most common types of insurance policies include: 

• General liability insurance—Most businesses need some form of general liability insurance because it can provide protection for third-party bodily injury or property damage. For example, if a contractor damages a piece of furniture while working in someone’s home, general liability insurance will help cover legal and settlement costs.
• Inland marine insurance—This type of insurance covers a business’s property while it’s being transported or stored by a third party.
• Builder’s risk insurance—This type of insurance protects against damage or loss to buildings during construction or renovations due to fire, weather, vandalism or other hazards.
• Workers’ compensation insurance—Workers’ compensation helps cover medical bills and lost wages if an employee is injured at work and can no longer complete their normal tasks.
• Commercial auto insurance—This type of coverage helps protect you from expenses related to accidents involving company-owned vehicles.
• Commercial property insurance—This helps cover business property damaged from accidents, weather events or other hazards listed in the policy.
• Professional liability insurance—This provides coverage if a claim is presented against your business for mistakes or oversights in performing a service, such as breach of contract, professional negligence or failure to deliver a service on time. 

How Much Does Contractor Insurance Cost Near Fort Lauderdale, FL? 
The price of contractor insurance depends on a wide range of factors. Contact Bruening Insurance Agency to get a free quote today. Our team will help you find the right policy for your specific needs.