Contractor Policies

Contractor Policies.

 

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Contractors are an essential part of the community; whether you’re a painter, electrician, installer, carpenter or landscaper; you have special insurance needs.

Running this type of business is hard work and trying to find the right insurance coverage can be equally as demanding. As your contracting business grows your insurance needs must change accordingly, to make sure you are always covered. It’s important to know what you are getting and even more important what coverage you need to protect your assets as your operation grows.

That’s where contractor’s insurance becomes challenging without the right guidance from an experienced agent. At ISU O’Connor Insurance Associates we are small business owners just like you. Our agency is family owned and no one understands the hard work you have put into your business better than we do. We know that contractors are the backbone of a small community and therefore we take great pride in providing our service and knowledge in regards to these types of policies.

So what insurance do I need?
A contractor’s growing business operation requires specialized coverage. On a basic level you need liability insurance, property coverage and business interruption. The liability will provide you with insurance if someone has an accident while you are on the job site or within your place of business. The property section covers your building if you own it and your business property including supplies and any inventory you keep at your location. The business interruption is to cover your lost income while you are trying to get your business back up and running after a covered insurance loss to your location. It all comes down to the fact that, as a contractor, you need an insurance policy that is customized to your operation and your needs.

Why is it so important?
Contractors often start small and get bigger, so there’s always a steady bit of growth, which means your insurance policy needs to be renewed to include coverage for all your changing needs. Did you know that all the tools and equipment you have purchased since you started in business need to be covered differently if you take them onto job sites? Contractors insurance can get complicated; you have added employees, sub-contractors and you’re often being handed complicated contracts that are loaded with insurance requirements. You need to navigate all your insurance needs while staying focused on growing your business—that can be difficult without an experienced agent on the line helping you decipher the lingo.

Imagine for just a moment the unthinkable happens and all the supplies you delivered to the job site late yesterday are stolen, along with some of the equipment and tools you had responsibly locked up. Do you feel confident your insurance would adequately cover all those items or would you have to pay out of pocket and destroy what little profit margin you had in the job?
These are questions that a business owner needs answered. It’s important to feel confident in your insurance policy and the agency behind you.

At ISU O’Connor Insurance Associates an experienced agent will walk you through a series of questions to learn more about you and what your business needs. During the conversation the agent will help educate you, clarify the jargon, simplify the process and lay out the options so you can make an informed buying decision. Being a contractor is a unique position that calls for a unique policy that covers all your needs. We want to be the agency that helps you find that right policy for your business.

Ready to get started? Just give us a few pieces of info and we will give you a call to start the conversation.

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