As a contractor in California, you already know your business isn’t like other professions. You work hard and get dirty to get the job done. Whether you’re building or repairing, you’re working hard day in and day out. But you also face risks other businesses don’t. Your liability is higher and the losses from a single storm, theft, or fire can be devastating.
Make sure you protect your contracting business with the right California contractors insurance coverage.
What is contractors insurance?
In California, contractors insurance isn’t a single policy you can buy. Instead, it’s a set of difference insurance coverages bundled together to protect your contracting business, no matter where you work in California.
Many contractors need similar types of coverage, regardless of the work you do. Your insurance should include the following:
Liability Insurance: As a service professional and a business, you need both general and professional liability coverage. When a client, customer, vendor, or other third-party claims injury or damages, you’ll be protected.
Workers’ Compensation Insurance: If you have even one employee, part-time or full-time, you’re required by law to carry workers’ compensation insurance. This protects your employees if they’re injured on the job and you if an employee decides to sue.
Commercial Auto Insurance: Whether you’re driving a beat-up old truck you’ve owned for years or you’re investing in company vehicles, you need a commercial auto insurance policy. Your personal auto insurance won’t cover accidents that occur while you’re on the job.
Commercial Property Insurance: If you’ve got a workshop or an office you work from, you need commercial property insurance. Fire, theft, vandalism, and storms can all wreak havoc on your property. With the right California contractors insurance, you can get back to work as soon as possible after a disaster or accident.
Business Interruption Insurance: When you have to stop working on a jobsite or helping clients because of a covered peril, you’re losing money. You can’t pay your vendors, subcontractors, employees, or yourself. With business interruption protection, your income will be covered until you’re back up and running.
Tools and Equipment Insurance: Without your tools and equipment, you can’t work. When theft, vandalism, or some other covered peril puts you out of commission, your tools and equipment are covered. You can have them repaired or replaced so you’re back to work in no time.
Builder’s Risk Insurance: While a building is under construction, anything can happen — fires, theft, big storms, vadalism. With builder’s risk coverage, you’re protected from multiple perils, even if you have to rebuild completely.
Who needs contractors insurance in California?
Any type of contractor working in California needs insurance to protect themselves and their business. From general contractor to more specialized services, you need a set of policies designed for your unique contracting business.
- Construction companies
- Heating & Air companies
- Floor Installation companies
- Pressure Washers
- And more!
No matter what kind of contracting business you own, protect yourself, your business, and your employees with the best available insurance. Contact PTL Insurance Brokers today for a free California contractors insurance quote!