Contractors Insurance in Vermont

Contractors Insurance for Vermont Business

Vermont contractors perform a wide range of services for private homeowners, corporate clients, cities, and small businesses. The job is inherently risky, involving heavy equipment, working at heights, lifting objects, and other tasks that can put you, your employees, and others in danger. If an accident occurs on your job site, you could be held financially liable for any injuries or damages that occur. Contractors insurance can help relieve the financial burden of an accident or other event.

Your goal is to run a safe workspace, making sure to follow all regulations to minimize the chance of injury and damage. However, accidents can happen at any time causing property damage, personal injury, and worksite shutdowns. Theft, fire, and storm damage are additional risks Vermont contractors must consider. Contractors insurance can help to cover all these events, financially shielding your business from these events.

What are Contractors Insurance Coverage Options?

Since contractors perform such varied jobs, there are a wide range of insurance policies available to protect contracting businesses. By combining the policies your company needs most into a contractors package, you can purchase comprehensive insurance for a wide range of situations. Some of the policies you may need include:

- General Liability
- Property Damage Liability
- Bodily Injury Coverage
- Workers Compensation
- Disability Insurance
- Business Interruption Insurance
- Commercial Auto
- Inland Marine Coverage
- Equipment Floaters
- Product Liability and Completed Operations/Product Coverage
- Professional Liability
- Pollution Insurance

Do I Need Coverage for Subcontractors Working for My Vermont Business?

Subcontractors can help your contracting business run efficiently and effectively, hiring specialists to complete some portions of the work. However, they also introduce additional financial risks, as you may be held responsible for their injuries and errors.

The state of VT, like many others, requires that employees purchase workers compensation insurance. This coverage helps pay for medical expenses and salary when an employee is injured on the job, and is invaluable in high-risk fields such as contracting where injuries are likely to occur. Your workers compensation premiums are based on a number of factors including the risk profile for each employee. If your subcontractors do not carry their own insurance, they will be added to your workers compensation policy on your yearly audit, at significant expense. Be sure your subcontractors are properly insured before they begin work.

Independent contractor liability insurance can also help protect your business from errors made by subcontractors. If a subcontractor causes injury or damage, your company may be legally liable. With an independent contractor liability policy, you can have coverage against this event, giving your company comprehensive protections.

Contractors do an important job, helping to construct, remodel, and repair a wide range of building projects. However, these tasks come with risks and financial responsibilities you must be prepared for. With a Vermont contractors insurance policy, you can purchase comprehensive coverage against a wide range of events to protect your business against injuries, damages, and other losses. To recieve the proper help with obtaining a contractors insurance policy contact one of our local agents today!

Contractors Insurance for Vermont Business

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