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Protecting Your Waitsfield Business With Contractors Insurance

Running a contracting service can be a lucrative business, but it often comes with a number of hazards and risks. Consequently, you’ll want to make sure you have a good contractors insurance policy to cover risks and unforeseen accidents in Waitsfield, Vermont.

Contractors Insurance Waitsfield

Covering Waitsfield Business Risks With Contractors Insurance

Anyone considering a new contracting business or currently running one should be covered by more than just a standard small business or commercial insurance policy. Many contracting jobs often require physical labor, the use of heavy or dangerous equipment, and working at customer premises where accidents may happen any time, so purchasing insurance for your contracting business is all about better safeguarding your business from risks.

As a business owner, you could be liable for medical costs, property damage, injuries and legal costs. When running a contracting company, it can be difficult to assess unknown risks, but choosing smart insurance choices like these could be the best way to protect your financial assets.

What Types of Contractors in Waitsfield Could Benefit from Contractors Insurance?

  • Roofing Contractors
  • Plumbing Contractors
  • HVAC Contractors
  • Electrical Contractors
  • Painting Contractors
  • General Contractors

Workers Compensation

Workers compensation is now required in all the states. It is designed to protect employees that may be injured or become ill while performing a job. It's predominately for protecting employees, but if they become injured on the job, they cannot sue their employers.

This type of coverage may come in handy if you had an employee who was injured after falling off a ladder. Workers compensation could help cover medical treatments and lost wages for the employee.

Business Owners Policy (BOP)

Getting a BOP is an ideal solution for new businesses that want to make sure they cover some of the basic risks of doing business. It’s a package deal that combines commercial property and general liability in one convenient package.

The general liability coverage can help to provide protection from lawsuits arising from completed construction jobs, for example. It may cover legal fees and any costs directly associated with a lawsuit.

Commercial property insurance covers things like tools, equipment, and structures that may be damaged as a result of vandalism, falling objects, lightning, or a fire.

Umbrella Insurance

Often, small businesses in Waitsfield are completely taken by surprise when they learn they’re being sued. Consequently, it’s hard to even imagine just how much coverage might be needed in case of a lawsuit.

If you’re a contractor working in a particularly dangerous field, you might feel more comfortable buying an umbrella liability policy, also known as an excess liability policy. This covers general liability issues that go beyond the limits established in your standard contractors insurance liability coverage.

Business Auto

All types of contractors will need a suitable business auto policy. Whether you install carpeting, work as a general contractor, paint houses or repair plumbing, you’ll be hauling equipment, tools and driving to a number of customer locations to perform your services.

Business auto insurance can help to protect you and your employees while working, making deliveries or attending meetings.

Employee Dishonesty Coverage

Employee dishonesty coverage isn’t a requirement for running a business. However, it sure could come in handy if you have employees who are stealing tools, equipment, or money.

All types of businesses are exposed to risks on some levels.  However, contractors typically incur more risks because of the nature of their business. You can help to prepare for unforeseen events and reduce some financial risks by purchasing adequate contractors insurance coverage in Waitsfield.

  Get in touch with an agent! 


This material is for informational purposes only. All statements herein are subject to the provision, exclusions, and conditions of the applicable policy. For an actual description of all coverages, terms, and conditions, refer to the insurance policy. 

Topics: Contractors Insurance

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