Contractors, like most business owners, need insurance to protect their company from a variety of potential risks. The risks that contractors face, however, are unique to their industry, and they, therefore, have unique insurance needs. If you’re a contractor in Waterbury, one of the easiest ways to find the insurance policies your company needs is to work with a knowledgeable contractors insurance agent who’s licensed in Vermont. Here are three questions to help you find just such an agent.
When You’re Looking for a Contractors Insurance Agent in Waterbury, Vermont, Ask These 3 Questions
1. Have You Worked with Other Contractors in Waterbury, VT?
First and foremost, you should establish how familiar an agent is with the contracting industry. Some agents sell commercial insurance policies and have one or two contractors as clients, while others focus more heavily on serving contractors and have a number of contractors throughout Vermont as clients. The more contracting clients an agent has, the more familiar they’ll be with contractor’s particular insurance requirements and the best ways to meet those needs.
In addition to finding out how many contracting clients an insurance agent has, try to learn where within the contracting industry their clients operate. Some agents might not want to share details about their clients out of respect for their clients’ privacy, which should be honored. You might be able to find out how large an agent’s contracting clients are, what type of contracting work they do and where in Vermont (or other states) they operate. Details like these can help you assess just how familiar an insurance agent may be with your particular contracting company’s needs. An agent who’s served many clients that are similar to your company will likely be able to serve your company well.
2. What Kinds of Contractors Insurance Policies Do You Offer?
Because contractors have many and different needs, contractors insurance can include many different insurance policies. Sometimes, for instance, a commercial auto insurance, commercial property insurance, general liability insurance and workers compensation policy may all be combined into one package for a contractor.
When selecting an insurance agent to work with, you’ll want someone who offers lots of different insurance options. An incomplete list of options to listen for include:
Commercial Umbrella Insurance
Business Interruption Insurance
An agent who offers all of these and other insurance options will be able to create a customized insurance solution for your company by combining several different policies.
3. Are You an Independent Insurance Agent?
In order to get the absolute lowest prices possible on insurance, you’ll want to work with an independent insurance agent. Agents that work for insurance companies are obligated to only offer you that insurer’s policies. They may be able to find you the lowest-priced policies that the insurer they work for provides, but they can’t let you know if another insurance company has a better option. Independent insurance agents, in contrast, aren’t obligated to work with any one insurance company. They can get quotes from any insurer serving Waterbury and show you the lowest-priced option regardless of what company is offering it.
As you interview agents, you’ll find there are highly qualified independent insurance agents serving Waterbury who are familiar with contractors’ needs and offer many different kinds of policies. Take your time to find the right one for your company, and you’ll be well rewarded with excellent service and great contractors insurance.