If you are a contractor in business for yourself, chances are you need insurance to protect you against the risks and hazards of the job. In fact, many clients require you to be insured, and state law may even mandate certain types of coverage in some circumstances. At Anton Insurance, we can help you sort through the various insurance solutions available to Wisconsin contractors so you can determine which coverage types are right for you.
When you work with Anton Insurance, you are gaining the support and individualized service that you expect from a local independent insurance agency. We understand the dangers you face on the job and know that no two days are ever the same. Regardless of the challenges you may encounter during the course of business; our aim is to help you find commercial contractors insurance that minimizes your risk of setbacks and loss.
We offer coverage for many different types of contractors, some of which include:
- HVAC workers
- General contractors
- Lawncare and landscaping contractors
- Flooring Contractors
- And more
Coverage and Risks
Like any other business owner, you are subject to potential losses and liability. You could be sued for damages you cause to a customer’s property or any third-party injuries your crew is responsible for. You could also face income loss if your equipment is damaged or high winds destroy weeks of hard work during a storm. These types of events can lead to tens or even hundreds of thousands of dollars in damages – enough to force some contractors into debt or even bankruptcy.
To offset some of these risks, the team here at Anton Insurance can help you find insurance specifically designed to meet the needs and risks of your industry. There are general risk coverages that are important for nearly all businesses, as well as those that are uniquely designed to fit your niche. Whether you are just starting out as a one-person business or you’ve been overseeing multiple projects and sub-contracting teams for years, we can help you develop an insurance portfolio that will back your business for years to come.
Your coverage may include protection for:
General liability insurance (GL) is all about protecting your business and assets against lawsuits. As a contractor, you may find yourself in some risky situations – particularly if you are tearing out the walls in someone’s bathroom or making draws on a client’s construction loan account for tens of thousands of dollars at a time. In today’s litigious society, you can be sued for nearly anything, and the costs can add up quickly – even if you aren’t at fault. GL can help protect your business with coverage for legal representation and court fees, as well as judgments, settlements, and penalties if you are found responsible for third-party injuries or property damages. Since you may be responsible for any losses that exceed the coverage in your policy, choosing high GL limits can reduce the risk of paying for excess damages out of pocket.
Workers Compensation Insurance
If you have employees on your payroll, you need workers compensation insurance. This coverage provides security for the employee, paying for necessary medical bills and lost wages after an on-the-job injury. It also protects your business against financial responsibility for those injuries, safeguarding you against potential litigation regardless of fault.
Commercial Property Insurance
Besides the job site, where else do you do business from? Do you have a shop or an office? Perhaps you even work from your home garage. Either way, you need commercial property insurance to protect damages to your business assets against covered perils and losses, such as theft, fire, fallen objects, and high winds. This can include your signage, equipment, construction materials, computers, and more.
Commercial Vehicle Insurance
Commercial vehicle insurance is a common coverage among contractors, as it is used to protect your commercial trucks against collision and non-collision damages, as well as safeguard your business against accident-related liability.
Employee Dishonesty Coverage
You can be diligent in hiring workers who pass background checks and come with strong references, but there is no way to prevent employee dishonesty fully. With the right coverage, however, your business is protected against employee fraud that might otherwise result in a major loss for your business.
Professional Liability Coverage
You know your job, and you make every attempt to do it well, but mistakes still happen. Professional liability insurance can help protect you against negligence and accusations of negligence if you make a professional error that results in damage to a client’s property, an injury, or some other type of loss.
Tools and Equipment Coverage
For many contractors, damage or loss of specialty equipment means not finishing a project. Whether you own your equipment or rent it for specific jobs, talk to your agent about purchasing coverage for tools and equipment so you can begin working again as quickly as possible after a covered loss.
Builders Risk Coverage
If your business is often involved in long-term projects, such as when overseeing a home construction project, you are vulnerable to loss until you hand the keys over to the homeowner. Builders risk coverage helps protect against covered damage to a job site before the project is complete.
Excess Liability Insurance (Commercial Umbrella Coverage)
Despite purchasing high limits for your GL and other liability insurance coverages, you could still fall short of having adequate coverage to pay for damages after a lawsuit. Commercial umbrella insurance helps pick up the pieces, paying for excess liability when you exhaust the limits on your primary coverage. Since it extends liability protection by millions of dollars, umbrella insurance could be the difference between closing up shop or continuing business as usual.
Wisconsin Contractors Insurance
If you are a contractor in Columbus or the surrounding area, we want to help you get the coverage you need to protect your business against unexpected loss. For more information about Wisconsin contractors insurance or to request your free quote, contact our office today.