Contractors Insurance

As a contractor, you encounter various risks and hazards daily. Understanding your insurance options and maintaining an adequate insurance portfolio is crucial.

Contact Hammer Agency today to start building your customized insurance plan.

What Is Contractors Insurance?

Contractors insurance may help protect contractors against the financial effects of potential risks and liabilities associated with their business operations. It may include various policies such as general liability insurance, workers’ compensation insurance and professional liability insurance. Appropriate insurance can help mitigate financial losses from accidents, injuries or property damage during business activities.

Types of Contractors Insurance

Contractors typically require several types of insurance to protect their businesses against risks and liabilities. Some of the most common types of insurance contractors may need include the following:

• General liability insurance may help cover third-party claims for bodily injury, property damage or personal injury caused by the contractor’s business operations or products.
• Workers’ compensation insurance may help cover employees’ medical expenses and lost wages due to work-related injuries or illnesses.
• Professional liability insurance, or errors and omissions insurance, may help cover negligence claims or errors in the contractor’s professional services.
• Commercial auto insurance may help cover third-party bodily injury or property damage claims after an accident. Depending on your coverage, it may also help cover vehicles used for business purposes, including liability and physical damage coverage.
• Builder‘s risk insurance may help cover damage to buildings or structures under construction, including theft, vandalism or natural disasters.
• Commercial umbrella insurance may help provide additional liability coverage above the limits of primary insurance policies.
• Equipment insurance may help cover damage or loss of equipment used for business purposes.

Contractors should assess their insurance needs carefully and work with an experienced insurance agent to ensure they have adequate coverage.

Liability Insurance for Contractors

If your business is held responsible for someone else’s losses, it can result in devastating financial damages. Your agent may recommend purchasing coverages such as general liability, professional liability, commercial auto, cyber liability and commercial umbrella insurance.

Contact Us

Contact Hammer Agency in Denver, Colorado, today to get personalized quotes for contractors insurance.