Insuring contractors clients can be quite complex when you have to consider all the risks involved in the clients line of work. However, there are certian policies that are a guarentee neccesity for all contractors operating in the state of Califonia.
One of the most popular types of insurance for businesses is commercial general liability. This type of insurance provides coverage against claims for physical injury of third parties, property damage that occured during work and legal expenses.
Having a well developed general liability policy helps reduce the costs associated with claims and transfers it to the insurer. Many insurers/ MGAs provide general liability programs specifically designed for contractors. These programs take into consideration the nature of the work and provide coverage based on the insureds needs.
Workers compensation insurance is critical for contractors and artisans. This insurance policy provides coverage to employees who incur on-the-job accidents and is required by State Law.
A good workers compensation policy will provide coverage for medical treatments, rehabilitation costs, disability income and family compensation for work related deaths. The construction industry presents a great amount of risks to its employees, this will greatly affect the premiums placed on the policy.
Commercial auto liability insurance provides coverage for any claims due to damage, injury or loss.
Any vehicle that is used to transport equipment or workers should be insured in order to provide coverage for physical injuries, property damage or death. A personal auto insurance policy will not suffice.
Greenwood General Insurance Agency is staffed with seasoned Underwriters ready to assist you in your risk submissions to ensure all the necessary information is provided. The Underwriters at Greenwood specialize in providing our brokers with everything they need to ensure their success.
Professional Liability Insurance is important for contractors and developers who work with builds. This insurance policy protects your business from claims based on design flaws, customer dissatisfaction and execution flaws.
As a contractor, it is important to insure your equipment and materials just as you do your employees.
A builders risk insurance policy protects contractors and artisans from potential theft, damages or losses of their building materials and equipment.
Although this type of insurance can be purchased separately, it is usually included in a contractors general liability policy or business owners policy.
Most general liability insurance programs targeted to small business contractors and developers don’t provide coverage for roofing due to the high risk associated with the work.
A business can get a separate roofing insurance policy if this is part of their nature of work. This policy will protect the business from any accidents that occur whilst working on a roof.
Here at Greenwood, we focus on fast communication and easy applications, which is what makes our brokers so successful. Get started by booking a free demo with our Business Development Manager.
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