Every company involved with repair or construction should buy contractors insurance. At Bema Insurance, our carriers' comprehensive contractors liability insurance is designed to protect your business assets and employees from the potential dangers involved in a contracting business.
Contractors deal with dangerous electrical equipment and work crews who must follow strict safety measures. Even the most well-trained construction workers can get involved in accidents. Moreover, people who come into contact with the work site might be exposed to hazardous chemicals.
Getting the right insurance for contractors is essential for the smooth execution of projects. Contractors of all types typically require subcontractors to carry a certain amount of insurance separate from the contractor's policy. Since millions of dollars can be at stake in a construction contract, it's imperative to protect each party's financial interests each step of the way.
Every company involved with repair or construction should buy contractors insurance. At Bema Insurance, our comprehensive contractors liability insurance is designed to protect your business assets and employees from the potential dangers involved in a contracting business.
This broad coverage pays for problems the contractor may face during a project. It pays for job site injuries, as well as property damage or improper installations. Most funders of construction projects require the contractor to carry this coverage.
A contractor usually owns or leases property to store the firm's machinery. Getting the right property insurance helps pay for equipment damaged by severe weather and other perils.
When a firm delivers materials from one point to another, it's helpful to carry property in transit insurance. This coverage is also known as inland marine insurance.
Contractors usually own vehicles that must be covered by commercial auto insurance to meet state requirements.
Workers' compensation is a state requirement for businesses that employ one or more people. This coverage pays for medical bills and sick leave when crew members are injured on the job.
Contracting projects are subject to delays, which can lead to reduced income. Business interruption coverage pays for lost revenue or wages. It provides cash flow to keep the company running.
Certain contracts may involve highly confidential details that are shared through a digital network. It's important to carry cyber insurance, which can pay for damaged equipment or system restoration if a breach occurs.
Contractors can make mistakes that lead to losses for another party. Errors & Omissions (E&O) insurance pays for legal fees and settlements associated with contractor mistakes.
Many contractors choose to start with a Business Owners Policy. A BOP combines general liability with commercial property coverage. From there, you can add other coverage that fits your specific business.
At Bema Insurance, we shop with multiple insurance carriers to bring you best-in-class contractors insurance coverage at competitive rates. As a full-service, independent insurance agency, we go the extra mile to cover your unique risk exposures based on the nature of your contracting business. Additionally, we can help protect your operations with contractor license bonds that will reimburse your clients in case you fail to keep up with the agreement.
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