Contractors Insurance in Winchester, VA
In the dynamic and often unpredictable world of construction, contractors face a myriad of risks that can lead to significant financial losses. The potential for unforeseen events is high, from accidental property damage to on-site injuries. This is where contractors insurance can be beneficial.
What Is Contractors Insurance? 
Contractors insurance is a combination of coverage that can help financially mitigate the unique risks construction professionals encounter. It generally encompasses various types of coverage, each aimed at providing financial protection against hazards that may arise on a job site.
What Does Contractors Insurance Cover?
Contractors insurance typically includes the following coverage options:
- General liability insurance—This can help financially cover claims of property damage or bodily injury to third parties caused by the contractor’s operations. For example, if a contractor accidentally damages a client’s property or if a passerby is injured at a construction site, general liability insurance can cover the associated costs.
- Workers’ compensation insurance—This coverage provides benefits to workers who are injured or become ill due to job-related activities. This can include medical expenses, lost wages and rehabilitation costs.
- Commercial auto insurance—This can help financially cover vehicles used for business purposes, protecting against damages and liabilities arising from accidents involving company vehicles.
- Tools and equipment insurance—This policy can help cover the loss or damage of tools and equipment used in the contractor’s business, whether on-site or in transit.
- Professional liability insurance—Also known as errors and omissions insurance, this can help cover claims related to professional mistakes or negligence that result in financial loss for the client.
Who Needs Contractors Insurance?
Contractors insurance is essential for anyone involved in the construction industry. This can include general contractors, electricians, plumbers, carpenters, painters and HVAC technicians. Essentially, any professional who provides construction-related services should have this insurance to financially protect their business from potential risks.
Learn More
For insurance near you, contact Insurance Center of Winchester today.