If you work as a contractor, it’s wise to purchase Contractor Insurance in Baltimore MD to protect you against costly injuries or claims. If you get seriously injured on the job, your medical bills could be enormous. In addition, if you accidentally damage a clients property, without insurance, you’d be responsible for paying to repair the damage. Below you’ll learn about the different types of contractor insurance and what each type covers.
Liability
While on the job, anything can happen and if you unintentionally damage the property of a client you’re working for, you could have a lawsuit on your hands. Being sued and going to court can cost thousands of dollars, so you should be prepared in case this would happen to you. Contractor general liability insurance covers property damage, personal injury and bodily injury.
Commercial Auto Insurance
This type of insurance policy covers damages to your work vehicle and includes cars, pickups, box trucks, vans, dump trucks and tow trucks. You’ll have to purchase liability insurance in case you’re at fault in an accident while driving your work vehicle. You should also consider purchasing insurance that pays for the costs of repairs of your vehicle if you’re in an accident. Having to pay out of pocket for vehicle damages can be costly and you could lose time off from work while your vehicle is being repaired.
Business Owners Insurance
As an independent contractor, you’re considered a small business owner. Purchasing this type of insurance will pay the cost of damages to your building and personal property associated with your business. If your property sustains damage and you’re unable to work, business owners insurance will pay for the loss of income from your business for up to one year. This includes your operating expenses, payroll and net income.
If you work as an independent contractor, to protect yourself and your business you should purchase contractors insurance. Contractors who benefit include plumbers, construction workers, florists, roofers, electricians, painters, carpenters and landscapers. For more information about contractor insurance and to get a quote, contact Atlantic Smith, Cropper and Deeley and they can help you get the amount of coverage you need at a reasonable rate.
