Contractors Insurance

Contractors are business owners who face numerous risks specific to their contracting businesses. As a contractor, you want to reduce your risk exposure. The best method of doing so is with a comprehensive insurance package tailored to your unique risks.

Jaimes L. Fewer Agency, Inc. can help you manage your risks. We can give you the financial protection of a robust insurance portfolio personalized for your contracting business. Since 1993, we have helped Vermont contractors with their insurance needs, and we can also provide suitable coverage for your business.

What Is Contractor Insurance?

Contractor insurance is not one specific type of insurance but a wide-ranging group of insurance products for your various risks and exposures. Many contractors choose to add the following coverages to their portfolios. Again, the insurance coverage you choose is personal, and we will work with you to ensure you have the appropriate coverage.

·        Professional liability insurance (e.g., errors and omissions insurance) may cover losses if you are sued for negligence or substandard work.

·        Commercial auto insurance might pay for injuries or property damage from an accident. This coverage might also cover your vehicles if they’re damaged by weather or vandalism.

·        General liability insurance might protect you if a third party, such as a client, is injured or suffers property damage.

·        Workers’ compensation may help pay your employees’ medical costs, lost wages and disability benefits if they have a work-related injury or illness.

·        Tools and equipment insurance might provide financial assistance for repairs and replacement costs if the equipment is damaged, lost or stolen.

There are supplemental coverages that might benefit your business, and we can discuss what your business may need. For example, we often recommend surety bonds. These agreements between contractors, clients and insurance providers guarantee that the insurer will reimburse the client if the contractor fails to complete a project correctly.

What Insurance Should Contractors Have?

Whether you’re an electrician, carpenter or drywaller, your contracting business is unique—and so are your insurance needs. We can discuss the types of insurance coverage that may be suitable for you and can lessen your risk exposure.

How Much Does Contractor Insurance Cost?

The cost of your contractor insurance depends on several things, such as the types of insurance you choose, your business services and the number of employees. In addition, if you have a physical business location and equipment, these may affect your overall policy cost.

Reduce Your Risk

Jaimes L. Fewer Agency, Inc. can help assess your risks and exposures to ensure you have sufficient insurance coverage. Call us today at 802-476-5050 to get started on your policy, or visit one of our Vermont offices in Barre or Brattleboro.