Contractors are workers who take on a variety of construction projects, often independently. Because of the nature of their work, contractors are at high risk for injuries. Therefore, they’re always on the lookout for ways to reduce their costs and liabilities. If you’re a contractor, or a business owner who hires contractors, you know that having the right insurance is essential to protecting your livelihood
Nesso Insurance is proud to offer contractors liability insurance in Connecticut. We understand the unique needs of the contracting industry, and we have the experience and expertise to provide the coverage you need at a price that fits your budget. We offer a variety of coverage options for contractors, including general liability, workers’ compensation, commercial property, and commercial auto insurance. Contact us today to learn more about our services or schedule a consultation.
Understand Our Contractor’s Liability Insurance
Our contractors’ liability insurance is the type of liability insurance that covers building professionals and contractors against errors and accidents that might occur in construction. These policies also provide protection against errors that third parties such as engineers, designers, architects, electricians, and plumbers,might cause. With our contractors’ liability insurance, you’ll get compensation for damages, such as malicious damage, theft of construction materials, impact damage, storm and tempest, fire, floods, and lightning.
The Main Beneficiaries Of Our Contractor Liability Insurance
Nesso Insurance’s contractors’ liability policies are best suited for groups like construction companies that deal with developing property, corporates and individuals constructing their sites and premises, and independent contractors. It can also benefit companies and institutions that get involved in the construction of public facilities, such as dams, roads, bridges, sewerage systems, dams, and other public structures in civil engineering.
How Our Contractor Liability Insurance Works
Contractor’s liability insurance usually covers errors that occur during the period within which the construction is ongoing. Some of the risks it helps mitigate include the builders’ temporary buildings, the tools and equipment the employees use, design errors, omissions, and contractors’ machinery and plant. They also cover contract works, the architect drawings, and the equipment and plant that the construction owner has hired for the construction.
In addition, this insurance policy covers the legal expenses that might occur if you’re found liable for the damage. Some insurance companies automatically include temporary site buildings within the contractor’s liability insurance policy package. At Nesso Insurance, one of our agents will discuss all the inclusions with you to ensure that you get the right coverage for your needs.
The Difference Between Our Contractors’ Professional Liability And Builders’ Risk Coverage
Builder’s risk insurance and contractors’ liability insurance cover comparable situations, forms of damage, and organizations engaged in a construction project. However, there are some key differences between the two policies. Builders’ risk insurance covers the repair cost or replacement value of structures under construction in case of damage caused by external perils such as fire, lightning, theft, and windstorms. On the other hand, our contractors’ liability insurance protects you from third-party claims of errors, omissions, or negligence in your work.
Nesso Insurance offers both builders’ risk and contractor’s liability insurance as a way to give our clients the comprehensive coverage they need for their construction projects. We can take the time to assess your specific needs and recommend the right combination of coverage for your project. We’ll also answer any questions about our policies and provide ongoing support.
How We Recommend A Specific Contractors’ Liability Policy
Before recommending a specific contractors’ liability policy, we might require a few bits of information from you. First, we’ll ask you for a detailed description of your construction project so that we understand how best to customize your package. Knowing the precise location of your construction might affect the price of your policy. We’ll also need the value of the materials, equipment, and machinery on site to know how much coverage you’ll need. You can decide the limits and deductibles that best suit your organization. Our agents will be happy to help you determine the appropriate levels.
Other factors we might look at include your construction company project’s size and the total value of subcontracted work. When working with Nesso Insurance, you can be confident knowing that no detail will be overlooked and that you’ll always have the level of coverage you require. The last thing we want is for our clients to be caught off-guard by an accident or incident that their policy could’ve covered.
Benefits Of Getting Our Contractors’ Liability Insurance Policy For Your Business
If you have a construction contracting business, you typically must have an active insurance policy. This is often a requirement for you to get licenses and for people to award you contracts. Getting insurance coverage also allows you to focus solely on your work without having to keep worrying about what could happen if things went wrong. Lastly, it will save you from paying for damages from your own pockets if an accident occurs.
What Our Contractors’ Liability Insurance Can Cover
Our general liability coverage is the most common type among contractors and businesses. This type of insurance protects against a vast range of construction risks, accidents, and dangers. It includes errors and omissions insurance or professional liability insurance for contractors, which can assist you in paying costs in the event of a business conflict. It will financially protect you from incidents that can occur in practically any contracting firm, such as:
- Injuries to individuals whom you haven’t employed as part of your construction team.
- Damages that might occur to someone else’s properties as a result of the accident.
- Libel, defamation, and slander allegations by people – an example of an instance where this might occur is when a new employee posts claims that your competitor offers services that aren’t of good quality on social media. The competitor might sue you for trying to defame them, and your insurance company will come through for you.
- Other costs that your general liability policy might cover include medical payments for the injuries that your clients, employees, and other people might sustain, such as when they trip and fall because of unfinished flooring or a loosely placed brick falls on them.
- At one point, you may have found yourself in a situation where you took pictures and videos of the work you had done for a client and uploaded them on your website, but they ended up suing you on the grounds that you were invading their privacy. Our contractors’ liability policy can protect you from this risk under the personal and advertising injury section.
Commercial Property And Auto Insurance
These two types of insurance aren’t related to construction work itself, but they’re still crucial for companies that have a fleet of vehicles and people who work off-site. Our commercial property insurance will financially protect your company’s buildings and the tools, equipment, and materials inside them in the event of a fire, theft, or another type of covered incident.
On the other hand, auto insurance is vital for any business that uses vehicles for work-related purposes. If one of your employees is driving a company vehicle and gets into an accident, our commercial auto policy can cover part of the costs. Whether you use a car, van, or truck for your business – or even a boat or another type of vehicle – we can find the right insurance policy for you.
Workers’ Compensation Insurance
Our workers’ compensation policy can help you pay for medical bills, missed or lost earnings, and other expenditures incurred from a workplace injury. It can assist wounded workers who sustain injuries on the job and safeguard you as a business owner from severe financial damages following an accident. For instance, if a large beam drops on a construction worker’s foot and produces a complex fracture, our workers’ compensation coverage can help you pay for medical care expenses and missed income.
Without insurance, you as an employer may be held liable for all associated expenses, which might total to thousands of dollars. However, our workers’ compensation isn’t limited to high-risk occupations. At reasonably safe enterprises, repetitive-motion injuries (such as carpal tunnel syndrome), strains, and slip-and-fall accidents can occur. In many states, there’s a law requiring small company owners to get workers’ compensation insurance when they start hiring employees.
Some of the things that workers’ compensation coverage may insure against include:
- Medical expenses of treating the injury
- Employer liability
- Compensation for permanent injury
- Retraining them when they recover and get back to work
- Death benefits in case they pass away
- Lost income
Gain A Team Of Insurance Benefits In Connecticut
At Nesso Insurance, we know business insurance is enough of a headache without having to worry about getting the right coverage for your company. With our contractors’ liability insurance, you can get the comprehensive protection you need and start focusing on what you do best – running your business.
Our team of experienced insurance agents will work with you to create a policy that covers all the bases, including general liability, property damage, workers’ compensation, and more. Contact the Nesso Group today to learn more about our insurance services and how we can help you safeguard your company.