Contractors Insurance in Hampton, VA
Offering services as a contractor can be a lucrative and rewarding business model. However, unexpected mishaps and delays may inevitably occur regardless of how much of an expert you may be in your craft. Coupled with clients’ expectations and the inherent dangers of many contracting fields, such as those that regularly work on construction sites or with dangerous materials, you may require robust risk management and loss control measures such as contractors insurance.
What Is Contractors Insurance?
Appropriate coverage for your operations may come in many forms and pieces, such as general contractors insurance and contractors liability insurance. So you may need to purchase several separate products for suitably versatile coverage. By doing so, you can address the many risks and exposures relevant to your operations and ensure ongoing fiscal security and peace of mind.
What Does My Insurance Cover?
The specific parameters of a contractors insurance package can vary significantly depending on your needs, preferences, budget, physical assets and potential liabilities. While there may be some variance, the following types of coverage may be suitable for professionals who offer contracting services:
- Professional liability insurance
- Business property insurance
- Business income insurance
- Tools and equipment insurance
- Inland marine insurance
- General liability insurance
- Commercial auto insurance
- Builders risk insurance
- Workers’ compensation insurance
- Commercial umbrella insurance
How Much Is Insurance for Contractors?
When determining how much you’ll pay for your coverage, insurance companies may consider a multitude of factors, including the following:
- Location
- Contracting services offered
- Number of employees
- Years in business
- Assets and revenue
- Claims history
- Coverage details (e.g., limits and deductibles)
We’re Here to Help
Contact Morgan Marrow Company today to learn more or find quotes for the right coverage.