Contractor insurance is usually a package of policies that protects your business from lawsuits and other claims that might come up.  As an individual contractor, you want to make sure you are projecting yourself from not losing all the things you have worked hard for because of a lawsuit or a claim.

As a contractor, you will need a mixture of insurance policies to cover what you will need.  Most contractors need general liability insurance and inland marine insurance.  Your state has required insurance that you need to have.  The best thing is to talk to a knowledgeable insurance agent like the ones at Reliable Parents Group to figure out what is best for you.

Contactor insurance for example would be good for the following situations.

  1. A customer accuses you have not completed the job or bad workmanship.  The customer files a lawsuit against you.
  2. Causing damage to a customer’s belongings or home while repairing another item in their home.
  3. Your tools and/or materials are stolen from your vehicle.

What does the contractor insurance cover?  As a contractor, you would have several options of policies to build your contractor insurance.

The following is types of insurances to build your contractor insurance policy.

  • General liability insurance for Contractors
    The insurance covers risks including:

    – Bodily injury
    – Property injury
    – Personal and advertising injury
    – Completed operations liability

    You may be required to carry general liability insurance to protect your business and others on the project in case of lawsuits.  With the general liability insurance, it can help cover your legal and settlement costs.
  • Inland marine insurance
    The insurance covers the following:

    – Property in transit over land from one location to another.
    – Property stored off-site like in a warehouse or storage facility.
    – Property on moveable vehicles in example of a food truck that has cooking equipment and   ingredients.
    -Property that provides the means of transportation in example of business that own communication towers, roads, or bridges.

    It basically covers business property that is being transported or being stored by a third party.
  • Builder’s risk insurance
    The insurance covers the property that is on a construction site when it is damaged and/or destroyed by fire, wind vandalism, vehicle collisions or other accidents.

    Materials that can be covered it they are damaged or destroyed is documents and data, temporary structures, and soft costs.
  • Workers’ compensation insurance
    Employees who are injured or get sick while at work. 
  • Commercial auto insurance
    Vehicles that you use while doing business. Protects you from expenses related to accidents.
  • Commercial property insurance
    Business property that is damaged by certain accidents, weather events or other hazards.
  • Professional liability insurance
    Claims against your business for mistakes or oversights in performing a service, breach of contract, professional negligence, or failure to deliver a service on time.

The big thing is set up a meeting with your insurance professional to help you figure out which policies to build the right contractor insurance policy for you.

Contact Satch or Greg for your Insurance needs at 937-529-8300 or the Reliable Partners Group Insurance Agency’s website (