As trade contractors and residential builders you know that things do not always go as planned and that no matter how careful you are, accidents can happen. Dealing with clients can also carry a share of the unexpected.
Although there are many things in the trade that can come along that you can not prepare for, the Small Business Liability Insurance does not have to be one of them. It only took a little time out of your workday to go online and research the many ways you can protect yourself and your business for this very specific industry.
You work hard juggling daily requests from clients and suppliers while watching the workers and their safety on the site. Clients can be very emotional when dealing with their home, which makes you very vulnerable to lawsuits, workers can be injured on the job, the inventory could be lost from the workplace; many unexpected things can happen in one day routine.
As a contractor of your insurance needs are different from other small businesses in that you face a unique set of risks. As part of a typical day most likely you are involved in transporting equipment, supplies, staff and supplies to and from and between job sites. Your equipment is often in multiple locations both on and off-site. Contractors also have the additional burden often require bond even bid on a particular job.
In order to ensure that you are adequately covered for all kinds of events, you will most likely need different types of Small Business Liability Insurance for Contractors. This can include coverage for things such as: design / build errors and omissions, builders risk (while work is in progress) and the contractor hired equipment to name a few.