KEY TAKEAWAYS:
- Contractors insurance offers all the coverage that a contractor could ask for without all the extra coverage that they don’t need!
- Contractors face high risks, making general liability insurance essential.
- General liability insurance protects business assets, ensures business survival in legal battles, and provides security for employees.
- Contractors can opt for tailored general liability insurance instead of a bundled Business Owner’s Policy (BOP) to save costs.
- The cost of insurance depends on policy size, business location, and the company’s track record with accidents and claims.
Protect Your Business with Contractors Insurance
Let’s talk about something that might not be on your radar but should be, contractors insurance.
If you’re a contractor, then you’re already aware of the risks that come with the job. But what happens when those risks become realities? One accident can lead to hefty settlements or damages that your business might not be able to afford. So, having adequate general liability insurance is not just a good idea — it’s essential.
That’s where contractors insurance comes in. It offers all of the general liability coverage that you’ll need without all of the extra coverage that you don’t need. Think of it as insurance designed with your niche in mind!
Why Contractors Need General Liability Insurance
For contractors, the stakes are high. You’re not just working with materials and tools; you’re dealing with potential liabilities that could hit your business hard. Here’s why general liability insurance is a must:
Asset Protection: Imagine you’re facing a lawsuit for bodily injury or property damage. Without sufficient general liability coverage, your business assets could be on the line. This insurance helps safeguard what you’ve worked so hard to build.
Business Survival: Legal battles are expensive. General liability insurance can cover court costs and settlements up to the policy limits, giving your business a fighting chance to survive if a judgment goes against you.
Security for Your Team: It’s not just about you; it’s about your employees, too. This coverage protects against claims brought against the company and individual employees, ensuring that everyone has some peace of mind.
Tailoring Insurance to Fit Your Needs
For many businesses, general liability insurance comes bundled with other coverage in a Business Owner’s Policy (BOP). But as a contractor, you might not need all the extras that come with a typical BOP. Instead, you can opt for contractors insurance, which is a more cost-effective way of getting the general liability coverage that you need.
What Affects the Cost of Contractors Insurance?
So, now you know why contractors insurance is important. But we know what you’re going to ask next: what’s the cost? Great question. A few different factors play a role in determining the cost of your insurance (but don’t worry, it’s not as complicated as it might sound). These factors can include:
- Sales and Operations
- Location
- Track Record
Get a Quote on Contractors Insurance Today
Interested in contractors insurance? Let us help! At Avalue Insurance, we understand the unique challenges you face as a contractor, and we’re here to help you find the best coverage at the best price.
At Avalue Insurance, we pride ourselves on our local knowledge and personalized service. Our agents are here to guide you through the process, ensuring you have the coverage you need without paying for extras you don’t. Whether you’re a solo contractor or run a large operation, we’ve got you covered.
Don’t wait until it’s too late to protect your business. Contact Avalue Insurance today to get a quote on contractors insurance. Give us a call today at 303-773-3332, email us at info@avalueinsurance.com, or visit our office in Centennial, Colorado!
