Do contractors need insurance? It’s a million dollar question that you cannot afford to get wrong. As a contractor, every job brings new risks. Without the right coverage, you could be jeopardizing your business. At Killey Insurance, our job is to help hard-working Eau Claire area contractors like you find the insurance protection needed to protect against accidents, disasters, and anything else that could threaten your bottom line.
All contractors need insurance, but the types and amounts necessary will vary depending on the size of your business and the industry you work in. We serve contractors in many different professions, including:
- Electrical work
- HVAC repair and installation
- And more
Types of Contractor’s Insurance
There are many different types of commercial insurance coverage that a contractor might benefit from. Our job at Killey Insurance is to help you identify your individual risk vulnerabilities and find the coverage necessary to fill those gaps. Your insurance needs could include:
General Liability Insurance
Will you ever be sued for a faulty installation? Will a client slip on ice in your parking lot? There is no way to know what the future holds, but there are ways of protecting yourself from what may come. General liability insurance protects your business against the financial burden of litigation stemming from your work or that of your employees. This includes claims of injury or financial loss.
Workers Compensation Insurance
If you have employees, you need workers compensation insurance. This is coverage that pays your employees for medical bills, rehabilitative expenses, and lost wages if they fall off a ladder or hurt themselves in some other way while working on the job. In addition, workers compensation assures that your employees cannot sue you for workplace injuries.
Contractor’s Equipment Insurance
You probably use and transport a lot of equipment to and from your job sites. Damage to your tools and machinery could be detrimental to your business, putting you out of commission until you can find the money to replace it. With contractor’s equipment insurance, you can trust that your equipment is fully covered against damage or loss at the job site.
Commercial Auto Insurance
Most contractors spend much of their time commuting to jobs in a company vehicle. Whether you just have one vehicle or several of them, you need commercial auto insurance to protect you, your drivers, and your vehicle against damages, injuries, and potential liabilities.
Commercial Property Insurance
If your contracting business operates out of a physical location, you may need commercial property insurance. This type of coverage helps protect your office’s structure, as well as its contents. From fires and storms to theft and vandalism, property insurance can pay to repair or rebuild your business after a covered event.
Business Umbrella Insurance
Umbrella insurance is like insurance for your insurance. Businesses may purchase commercial umbrella insurance as a way of extending their liability protection. If you are sued, your primary insurance will only cover medical bills, legal fees, and judgments up to the limits on your policy. Umbrella insurance picks up the slack, with millions of dollars in additional protection available when you need it most.
Eau Claire Contractor’s Insurance
As a contractor, you already have plenty of irons in the fire. The last thing you should be concerned about is finding and maintaining the right insurance for your business. At Killey Insurance, we go to work on your behalf to identify the risks within your industry and find affordable, comprehensive coverage to fit your needs. For more information about contractor’s insurance here in the greater Eau Claire area, contact our team today.