If you own a construction business, there is a lot you need to worry about, but insurance shouldn’t be among them. The insurance requirements for contractors are a bit different from other businesses, and that’s why you need the help of an expert to help you navigate. At Advantage Insurance Network in Cincinnati, OH, we have put together a FAQs section to shed more light on contractor’s insurance. But if you have more questions, don’t hesitate to call us or drop an email. 

What is contractor’s insurance?

It’s insurance that covers a building undergoing construction or renovations. Given that risks like theft, fire, and natural disasters can cause damages or losses in the building under construction, you need coverage that can help you recoup finances when disasters occur.

Who needs contractor’s insurance?

If you are a contractor, you need contractor’s insurance because it cushions you financially when the unthinkable happens on the construction site. Ultimately, you need contractor’s insurance if you work on long-term projects, want permits from the local authorities, if the contract says so, and if you want to comply with the building codes.

What coverage options should my contractor’s insurance have?

At the very least, each contractor should have general liability insurance to help you cushion against liability claims likely to arise during construction. Also, consider worker’s comp insurance since it’s mandatory in many states. Beyond compliance, worker’s comp insurance is a must-have investment in the construction industry, given that the risk of injuries is high.

Because you have vehicles, consider commercial auto insurance. And depending on the nature of construction and contract, talk to your insurance agent for guidance on endorsements you can consider for optimal protection.

Where can I buy contractor’s insurance in Cincinnati, OH?

Want to invest in contractor insurance? You are on the right track. Don’t hesitate to get in touch with Advantage Insurance Network for an affordable quote.