Are you a handyman, painter, cleaning service or licensed contractor (electrician, carpenter, plumber etc)? Have you thought of becoming an entrepreneur and starting your own business? If so there are a few things you should consider, starting with the proper insurance coverage to fully protect your new endeavor.
As a contractor you know how important it is to create the proper fit, leaving no gaps behind. We look at your insurance policy the same way. A policy should be customized to fit your needs. The trusted expects at Safeway Insurance can show you how, at a very affordable cost.
Coverages to Consider:
- Commercial General Liability is a must, and the starting point for most packages. A typical limit starts at $1,000,000. But can go much higher. Picture these situations: A plumber after soldering pipes leaves the premised too early and starts a fire. Or a pipe is not properly fitted and a flood ensues. A carpenter leaves his saw out and the child of a client hurts themselves. A lawn cutter accidentally runs over a piece of metal and it discharges into a client automobile. All of these instances provide the client the right to chase the contractor for financial reimbursement. Make sure you are protected.
- A “Contractors Package” policy can also include an assortment of coverages that would apply to most contractors such as:
- Tool Floater – to cover hand tools that you would carry to your projects
- Installation floater – to cover the items that are at a job site (or in transit) for which you don’t own but are legally liability ie. Doors, windows, drywall and other materials
- Business contents – the usual things that you need to run a business – desk, filing cabinet, fax/photo copy machines etc
- Crime – to cover loss of money (theft, burglary, robbery) and also can include Third Party Bonding.
- Contractors Equipment – larger items that you need for your work ie. Machinery like back hoe, excavator or items of higher value. You can even get “Loss of Use” coverage for this that would pay for you to rent a replacement if your is damaged/destroyed in a claim
Remember, It doesn’t have to be expensive as minimum premiums can start as low as $60 per month.
To get a quote to suit your individual contracting business insurance needs contact Safeway Insurance for a customized package.