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Sloan Insurance Agency

33 2nd St
Elmer, NJ 08318

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What are the Different Types of Contractor Insurance?

If you are a contractor, you need insurance. There are many risks involved when you own a contracting business, and insurance can help protect you from these risks. At Sloan Insurance Agency in Elmer, NJ, we offer contractor insurance.

General Liability

General liability insurance protects you from many types of liability claims. It covers bodily damage to non-employees and property damage. If a judgment is made against you, the insurer will cover the costs up to the coverage limit. 

Let’s say you are working on a client’s roof. The hammer falls from the roof and damages their car. General liability would cover these damages, so you don’t have to. 

Business Owners Insurance

A business owner’s policy combines general liability with property insurance, also known as a BOP. It covers your tools of the trade and any buildings you use to run your business. 

Workers Compensation Insurance

If you have employees, you need workers’ compensation insurance. If an employee is injured on the job, you are responsible for medical bills and lost wages. 

Workers’ compensation insurance covers these costs, giving you and your employees peace of mind. 

Professional Liability 

As a contractor, a mistake can be very costly. Professional liability provides coverage for customer dissatisfaction, design flaws, and mistakes you may make. 

For example, if a mistake causes a building to not be up to code, this will cost the home or business owner time and money. Professional liability would cover any time loss and the costs to fix the issue. 

Contractor Insurance With Sloan Insurance Agency

If you need contractor insurance in Elmer, NJ, contact us at Sloan Insurance Agency. We’ll explain the types of contractor insurance and make sure your insurance needs are met. 

What is Contractors Insurance and Why Do you need it?

Working in the construction industry or as a tradesman can be inherently risky with the business owner potentially being liable for damage and injuries that occur at the job site. Carrying contractor insurance helps protect your business from the financial repercussions resulting from work-related incidents. Contractors insurance is designed for trades like construction, carpentry, plumbing, electrician, landscaper, painter, and handyman. Not only does contractors’ insurance protect the individual from potentially devastating financial implications, but also it is often a requirement of employers before they’ll hire you to work a job. 

Although a policy can be customized for your individual needs, basic policies include general liability and commercial auto insurance coverage. If you employ others then you will likely need to have workers’ compensation insurance to cover any workplace injuries or illnesses. In short, contractor’s insurance helps limit your overall liability exposure by covering expenses such as injuries or damage sustained by a client or at their property that you or your business are deemed responsible for. With contractors insurance, there is no such thing as one size fits all so be sure to work with a reputable insurance agency to customize a policy that best meets your needs.

At Sloan Insurance Agency in Elmer, NJ we are New Jersey’s premier provider for all your insurance needs. Our friendly and knowledgeable team of insurance professionals is ready to answer your questions and is committed to taking the time to learn your needs so that a policy can be customized to meet your expectations. Whether you are in the market for contractor’s insurance or just have questions, we are ready to help so give us a call today or stop by our conveniently located office to learn more. 

An Overview Of What A Contractors Insurance Policy Entails

Sloan Insurance Agency assists the Vineland and Elmer, NJ community, as well as the surrounding areas by offering residents multiple types of insurance policies. Our primary objective is to help our clients find the insurance coverage that they need to enjoy a comfortable life.

Contractors Insurance

New Jersey has a thriving economy, which is why it is an ideal place to start a business. Several contractors in the area have begun building properties. If you are a contractor or business owner in the area, contractors insurance is an asset. Business owners are able to protect their assets. The policy also covers business owners if a contractor is injured while working on the property.

Contractors use special equipment to complete some of these tasks. If they leave the equipment at the job site, the policy covers the equipment in the event that it is damaged or stolen. The policy also covers business owners who can avoid having to deal with a lengthy delay while the equipment is replaced.

Business owners can amend the policy to cover any vehicles that are used to transport different tools and materials. You can add special coverage for equipment such as ladders and forklifts. You can also amend your policy to include workers’ compensation coverage for the independent contractors.

If you are an electrician, carpenter, plumber, construction worker, or HVAC contractor, you should consider researching the benefits of contractors’ insurance. You face dangerous and unique risks daily as you work. Contractors insurance ensures that you will be protected in the event of an accident.

Sloan Insurance Agency Will Help You

If you are a contractor or a business owner looking to protect your assets, we will help you find the coverage that you need. Stop by our office in Elmer, NJ today!