Constructing the ideal insurance coverage.
Contractor insurance provided by Strickler Insurance.
Insurance for a contracting business varies. Some contractors contact us for their independent contracting businesses insurance coverage. Other contractors contact us and they represent a contracting firm. Because of the wide variety of contractors in Pennsylvania and neighboring states we have the expertise to make a custom contractor insurance plan that fits your business’ unique needs.
Business Insurance For A Contractor
As a general contractor you are preoccupied with organizing and managing different projects. From making sure materials show up at the correct time to subcontracting and managing the permits and inspections you don’t have time to deal with insurance, but you cannot afford to not have insurance protecting you as you make decisions and manage projects.
Contact Strickler insurance for a free quote on your contracting insurance. We try to provide the best contracting insurance possible.
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Commercial General Liability Coverage
As a contractor, your business may be susceptible to many risks, such as claims due to bodily injury, property damage, personal injury, and more. And, if you hire other contractors to perform work on your behalf, you can be held responsible for any damage they cause on the job.
Commercial general liability insurance is an absolute necessity for every contractor. This type of protection provides broad coverage for premises, operations, products, and claims to third parties or property when you are deemed responsible and liable. It will also pay to defend any covered lawsuit or action regardless of its merit.
Commercial Property Coverage
When a fire, theft, or another type of disaster strikes, your commercial property and everything within it can suffer a significant loss. This can have a detrimental effect on your business.
Commercial property insurance can help protect the property your business owns and leases, including things like equipment, inventory, furniture, and fixtures. Whether you own your building or lease your workspace, commercial property insurance can be purchased separately or can be combined with other necessary coverage to protect your business’ physical assets.
Contractors' Equipment Coverage
You’re constantly moving your tools from one job site to another, exposing your contractor business to potential loss due to damage or theft. And without your specialized tools and equipment, your job site may come to a screeching halt.
As a contractor, you need contractors' equipment insurance - a policy specially designed to protect your tools and equipment on the move. The policy will cover equipment for a variety of losses, including fire, explosion, vandalism, theft, collision with other equipment or objects and overturning. Unlike standard commercial property insurance policies, contractors' equipment insurance often covers losses caused by floods and earthquakes.
Builders Risk and Installation Insurance
A building under construction is not covered under a standard building insurance policy or a home insurance policy since it is not a complete structure. As a contractor, you may be responsible for unique loss exposures related to buildings under construction such as the theft of building materials and high valued equipment such as generators and compressors.
Builders risk and installation insurance provides coverage for homes or buildings while undergoing construction, until they are completed. The policy covers the contractors’ interest in materials at the job site before they are installed, construction materials in transit designated for the contractors' equipment insurance–a policy specially and the value of the property being constructed until it is completed.
Workers’ Compensation and Employers Liability Coverage
If one of your employees receives an injury or becomes ill due to a work-related occurrence, you are required by law to have the proper coverage in place.
Workers’ compensation and employers liability insurance protects your employees should a job-related injury or sickness occur during the course of employment. Since benefits vary by state law, make sure your insurance agent is aware of all physical locations your business operates in and all physical locations where you hire your employees.
Business Auto Insurance
As a contractor, you have many exposures associated with your business vehicles–owned or leased. With a fleet of cars, trucks, vans, or other types of vehicles used in the course of business, a single accident can potentially put your contractor business in financial jeopardy.
Business auto insurance provides coverage for vehicles owned or leased by a contractor and provides coverage for bodily injury, property damage, and other exposures, and could include comprehensive and collision coverage as well.
Hold Harmless / Additional Insureds
If you are performing as a contractor on a construction project where other contractors and vendors are involved, you could be held liable for any damages or injuries caused by the other contractors or vendors, leaving you with costly legal fees and settlement costs. Your business needs to be protected against the risk of some other company, vendor or subcontractor causing damage to people or property of your mutual customer.
Consider having a contract in place with each entity that includes a hold harmless agreement in your favor. A hold harmless agreement provides that the entity will hold you harmless for any injuries or damage caused by their negligence. In addition, the contract should require that the entity list you as an additional insured on their policy. This may provide you with coverage under their policy for injuries or damage they cause if you are named in a lawsuit.
Commercial Umbrella / Excess Insurance
Losses and lawsuits are quite common in the construction business, and settlements can be substantial. If your business is found to be responsible for damage or injury on the job site, you could be facing a large liability loss that exceeds the basic limits of your standard policy.
You should consider purchasing a commercial umbrella insurance policy which provides higher limits, typically between $2,000,000 and $10,000,000, and often broadened coverages. Coverage is extended over your general liability insurance, workers’ compensation, business auto, and directors and officers liability insurance. It provides a great safety net and helps ensure your contractor business is well protected.
What Kind Of Insurance Should A Contractor Have?
The most important insurance for independent contractors is general liability insurance. Reason you need liability insurance is it protects you from any potential liabilities you could face while on the job. Whether you’re an independent contractor or a large contracting firm you need to be covered for liability. Below are other types of insurance coverages that contractors typically get:
- Contractor Business Owners Policy (BOP): A business owners policy for a general contractor is an essential part of protecting your business. This is essentially a combination of liability insurance for contractors and property insurance all in one policy.
- Contractor Workers’ Compensation Insurance: Having workers’ compensation for your contractors or general employees is so important. Not only is it required by the state that you have workers’ compensation for your employees and laborers, but it also helps save you money. By having workmans’ comp you are more likely to retain employees.
- Contractor Business Crime Insurance: When running a general contracting business you know there is potential for robberies to occur. Small job supplies get stolen, construction materials for a large job go missing. Having crime insurance for your contracting business will protect you, and your assets.
- Contractor General Liability Insurance: Liability insurance for a general contractor is so important to have. Most contractors contact us for liability insurance quotes. Protecting yourself from lawsuits or liability your business might sustain. Not having liability insurance could result in your contractor business being forced to close. Learn how much liability insurance costs for a contractor when you get a quote through us.
- Contractor Property Insurance: Having property insurance as a general contractor will protect your property and certain things on that property. Be prepared for fire, flooding, theft, or accidental damages that can occur on your property.
- Contractor Umbrella Insurance: Having umbrella insurance as a contractor is such an effective way to protect your business. Contractor umbrella insurance takes your existing insurance and increases its effectiveness with additional payout coverage. Essentially general contractor umbrella insurance amplifies the coverage you already have. Learn more about umbrella insurance for contractors when you get a quote.
- Contractor Commercial Auto Insurance: Another insurance you might need is commercial auto for your work truck or other vehicles. Auto insurance for independent contractors is legally required by the state, and so important. If you don’t have your work vehicles, your contracting business is severely hindered. Learn more about contractor auto insurance when you get a quote from Strickler Insurance.
Contractor Employee Benefits
- Contractor Health Benefits: Get group health insurance for your general contractor employees. Keeping employees at your contracting business can be difficult, but by offering health insurance you can increase employee retainment and health for your whole organization.
- Contractor Dental Benefits: Get group dental insurance for your general contractor employees. Providing dental benefits makes your business stand out to potential employees.
- Contractor Vision Benefits: Get vision benefits for your general contractor employees. Not every business offers group vision insurance, especially not every contractor. This benefit will help your employees see how much you care about them and their vision.
Do I Need Contractor Insurance?
General liability insurance is required for licensed businesses in Pennsylvania and neighboring states. This would be the bare minimum coverage for your business. You are also required to have auto insurance for your commercial vehicles. Auto insurance for independent contractors is a straightforward process. If you have a fleet of vehicles, you can qualify for fleet insurance that would save you money on you contractor’s vehicles. Having fleet insurance makes adding and removing vehicles from your commercial auto insurance easy. As a contractor or subcontractor you need great coverage for your business and jobs.
How Much Does Contractor Insurance Cost?
Insurance for general contractors has a wide range depending on the insurance coverage. On average contractors can pay about $90 per month. This is only for the baseline coverage of liability. Many contractors have additional business owners insurance for their property commercial auto and other assets within their contracting business.
Independent Contractor Insurance Vs. Subcontractor Insurance
While there is a little bit of difference between contractors and subcontractors, our insurance is specifically designed for your contracting business. You know that no jobsite is the same and there are different risks for both contractors and subcontractors. We notice subcontractors typically need liability insurance just like general contractors, but they do not need fleet insurance for multiple vehicles. Get the best general contractor insurance or the best subcontractor insurance through Strickler Insurance.
Pennsylvania Contractor Insurance
Pennsylvania has a wide variety of contractors. We know because we provide independent contractor insurance for many of them. As a contractor insurance agency in PA we have found a specific niche of businesses that is in need high quality protection. We have dedicated insurance agents who specialize in contractor coverage. PA contractor insurance has specific requirements and local specifications. Having worked in Pennsylvania business insurance since the 1800’s we have truly seen it all. Contact Strickler Insurance for Pennsylvania’s best agencies for contractor insurance coverage. Work your job sites with peace of mind and confidence because you got business coverage from us.
Get Contractor Insurance From Strickler Insurance
Strickler Insurance is located in Lebanon Pennsylvania. Get your general contractor insurance in Lebanon PA, Pennsylvania or one of our neighboring states. At Strickler we hope to provide the best general contractor insurance. We provide general contractor coverage in New Jersey, New York, Maryland, Delaware and Virginia. Contact us today for a free general contractor insurance quote!
Additional Location Information For Contractors In PA
Contractors in PA looking for insurance should contact us first. As mentioned above we are located in Lebanon County Pennsylvania. For many years we have target contractors only in Lebanon County PA, Schuylkill County PA, Dauphin County PA, Berks County PA, and Lancaster County PA. While we love supporting contractors that are within an hour drive, we realized we can provide the same great insurance throughout the whole state of Pennsylvania. Contact us today for contractor insurance in PA.
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