Sub-Contractors Insurance Overview
In the Commercial Contracting Industry, Liability Insurance is a must-have when pursuing clients and when stepping foot on a job site. Carrying Sub-Contractors Insurance shows the professional in question has taken the time to ensure they have a security net in place, should an accident occur on their job site.
It is said that every job poses its risks. However, trade workers have specific dangers that pertain to their career paths and aren’t present in others. Electricians, plumbers, drywall installers, painters, and HVAC workers are a few of these contractual professions that can benefit significantly by holding a Commercial Insurance policy. These jobs place them in homes and commercial buildings, posing risks to third-party property and individuals. The insurance agents at Cordova Insurance Agency know the risks involved within an electrician’s and a plumber’s industry and, therefore, can cater to their insurance needs. This understanding allows policies to be built around a trade worker’s desires, as well as their budget.
Electricians, plumbers, and contractors all take the necessary precautions and safety measures while at work, but accidents can occur even with the most experienced worker. Contractors Liability Insurance can help protect them from the financial strains of potentially getting sued for negligence.
As insurance agents, we need to understand the vast importance of Commercial Liability Insurance and must be able to present it to our clients as imperative. The security and protection of our policyholders is a top priority at the Cordova Insurance Agency. It is our duty, as insurance agents, to keep our clients well informed of our insurance policies, and which ones would best suit their careers.
Why Sub-Contractors Insurance is Important?
Sub-Contractors Insurance policies are specifically made and tailored to those who work within a specific contractual industry. It is a specialized policy that primarily revolves around Business Liability Insurance. Business Liability Insurance can assist in the possible financial costs from damages done to a client or their property. If a plumber walks into someone’s house to fix a leaking pipe and by mistake causes significant water damage to a client’s home, they would need Commercial Liability Insurance to help protect them from the cost of repairs. It is common for clients to refuse service from a contractor who doesn’t hold a liability policy. If they carry insurance, they’re not only more secure while working, but they also are attracting more clientele.
Suppose an electrician enters a client’s home to do some rewiring, and a mistake was to occur. Perhaps a wall was accidentally burned, or a third party mistakenly received a shock due to an exposed wire. Commercial Liability Insurance policies could help the electrician with the wall cleanup or the third party’s medical costs. If one of these mishaps were to happen on a job site, and the professional did not hold a Business Liability Policy, they could carry the accident’s sole financial responsibility. The monetary costs of medical bills and property damage might be enough to force the electrician out of business. Professionals who would benefit from carrying a Commercial Insurance Policy for liability are:
- Heating and Air Conditioning
- Flooring Specialist
- Interior Construction Lead
- And More!
Commercial Insurance Coverage
Commercial Insurance Policies offer security, so customers are protected from an extensive list of possible accidents. Typically, Commercial Insurance Policies are liability policies that can help with damages done to third party property and third party medical bills. They typically do not cover employee injuries. If a painter had an employee fall from a scaffolding and break a limb, that would generally not be covered under a Commercial Insurance Policy. To cover such an accident, the painter would need to purchase a Worker’s Compensation Policy.
What is Typically Covered Under Commercial Insurance?
- Commercial General Liability: General Liability Insurance offers monetary assistance when a commercial business owner is held responsible for damaged property owned by a client. This could be due to a drywall installer accidentally taking out a support beam, or perhaps dropping a tool on a customer’s foot.
- Commercial Property: Property damages can pertain to a mistake made leading to the damage or ruining of physical property, such as a building. It also may include the protection of any commercial hardware that saw the damage.
- Commercial Auto: Commercial Auto assists in the protection of business vehicles used throughout the contractor’s day. If a car is used to transport company materials, tools, or employees, it could be covered under a Commercial Auto.
- Workers Compensation: If an employee were injured while on a job site, workers compensation could help cover those medical costs.
Cordova Insurance Agency carries a wide range of insurance products designed with the specialized coverage our customers deserve. Our client’s security and coverage are our top priority, so we make our policies to fit our policyholders’ lives and budgets. Contractors of differing industries can all benefit from General Contractors Insurance, but there are other related insurance policies these business owners may need to know about.
- Employer Practices Liability: This coverage protects you in the event of an employment-related lawsuit, such as wrongful termination or retaliation.
- Pollution Liability: Helps to protect a business when their day to day operations cause an accident of pollution.
- Commercial Umbrella Insurance: Commercial Umbrella Insurance provides additional liability protection if costs due to an accident reach past what your Business Liability Policy will cover. Commercial Umbrella works with your Business Liability to add extra coverage, which amps up your insurance portfolio.
- Crime Insurance: Crime Insurance provides financial protection to commercial businesses who may be at risk of theft or fraud.
- Business Income Insurance: Helps to cover the loss of income due to a covered peril. Commonly covered hazards include fire, theft, wind, flood, and more depending on the insurance company you are with.
Areas We Serve
The experienced team at Cordova Insurance Agency has dedicated their careers to serving their clients in the prime location of Merrill, Wausau, Tomahawk, Minocqua, Woodruff, and surrounding areas. Citizens within these city boarders can purchase Cordova’s quality insurance products and experience superior coverage.
Cordova Insurance Agency, located in the central Wisconsin area, takes pride in helping our clients find insurance policies that best fit their lives, careers, and budgets. Cordova offers Sub-Contractors Insurance and premium security to all those who work in the commercial contractor field.
How Do I Learn More?
To learn more about Commercial Contractors Insurance, contact Cordova Insurance Agency at (715)-536-9576. Our licensed agents will be happy to answer any questions you have.