Contractors Insurance in Slidell, LA
Contractors insurance can help construction and trade professionals manage financial risks related to their work. It may cover incidents such as property damage, injuries or legal claims that may arise during a project.
What Does Contractors Insurance Cover?
Contractors insurance policies can include several types of coverage to address various risks. Common options include the following:
- General liability insurance may cover third-party bodily injury and property damage.
- Builder’s risk insurance may cover structures under construction from damage caused by fire, vandalism or severe weather.
- Workers’ compensation insurance may help pay for medical care and cover lost wages when employees get sick or hurt due to their jobs.
- Commercial auto insurance may cover accidents involving company-owned or employee-driven vehicles.
- Commercial property insurance may cover damage or loss involving your office buildings, equipment or tools.
- Professional liability insurance may cover legal fees and damages if a client alleges negligence or mistakes in your professional services.
Contractors insurance policies often exclude certain types of claims. Most policies won’t cover intentional damage and contract disputes. Wear and tear on tools or equipment typically falls outside the scope of coverage. Damage due to earthquakes and floods are typically excluded unless added separately.
How to Save on Contractors Insurance
Contractors can lower insurance costs by taking a few practical steps:
- Bundle policies with one provider to qualify for multi-policy discounts.
- Compare quotes from different insurance providers to find competitive pricing.
- Keep job sites safe to reduce the number of claims and improve your risk profile.
- Raise your deductible to lower monthly premiums if your budget allows.
- Review your coverage yearly to adjust for changes in workforce size or services.
Contractors Insurance Near You
A Foto Insurance Agency of Slidell Inc. offers budget-friendly contractors insurance options. Contact us today to learn more.