Looking for Contractors Insurance in Michigan?
Mason-McBride is your local Contractors' Insurance expert! We insure many different contractors from Landscapers, Electricians, Carpenters, and many more!
Top Coverage Considerations for Independent Contractors
- Errors and Omissions: Contractors who provide consulting and advice, such as accountants, financial planners, interior designers, and landscape architects, need to be concerned about liability risks due to losses a client may experience due to the contractor's recommendations.
- Bodily Injury and Property Damage: Contractors who work with heavy machinery and tools, such as plumbers, re-modelers, and electricians, need to be concerned with mishaps due to hazards such as power tools, defective machinery, and compressed gas.
- Product and liquor liabilities: Independent contractors who serve food and alcohol at functions need to be concerned with potential injuries and illnesses due to food and alcohol served.
- Medical and Disability: As a contractor, you are most likely not on a group plan to cover your injuries, which can leave you exposed to a loss of income risk if you become ill or injured.
Who needs Contractors Insurance?
Many types of independent contractors need Independent Contractors Liability insurance and other coverage to match their specific risks. Some of the professionals that need contractors insurance include:
Independent construction contractors
Plumbers, carpenters, electricians, and painters
House and carpet cleaners
Freelance writers, editors, and graphic designers
Independent hair stylists and salon professionals
Horse or dog trainers
Don't underestimate your risk
Getting the right Independent Contractors Liability insurance in place can protect you from lawsuits, mishaps, and third-party property damage that can devastate your business.
Usually, you will need a few different categories of coverage for complete liability protection:
- General Liability: The foundation of all Contractor insurance coverage is a General Liability policy. This coverage will provide two types of protection.
- Bodily Injury: Provides coverage if you or someone you employ causes injury or death to a third party during work. It provides for medical care for the injured person and covers your legal defense if you are sued for damages.
- Property Damage: Provides coverage if you or one of your employees causes damage to property belonging to others. This includes the building or property you are working on or any third-party property.
- Completed Operations/Product: Provides coverage in case a project you finished has an issue or causes damage. It can also extend to any products you sell or distribute.
- Advertising Personal Injury: Covers the risk of damaging another's reputation or causing a loss through slander, libel, or false advertising claims.
- Contract Liability: This covers you in a contract dispute. It is not always included in General Liability coverage, so verify that you carry this coverage with your insurer.
The specific Independent Contractors Liability insurance coverage you need will be unique to your business. However, by working with a knowledgeable agent, you can ensure that you don't have critical coverage gaps that could expose you to expensive legal claims.