If you own a general contractor business in Florida, it’s important to have the right insurance coverage in place. There are several types of insurance that are essential for contractors, including general liability insurance and workers’ compensation insurance. In this blog post, we will discuss the different types of insurance that gc’s should have and why each is important.

What insurance is needed for a general contractor?

As a general contractor, you are responsible for the safety of your employees and customers. This means that you need to have insurance in place in case something goes wrong. The two main types of insurance that contractors need are general liability insurance and workers’ compensation insurance.

General liability insurance protects you from financial damage if you are sued for something like property damage or personal injury. This type of insurance is important because it can help you cover the cost of legal fees and damages if you are sued.

Workers’ compensation insurance protects your employees if they are injured while working on your job site. This type of insurance is required in most states, and it can help you cover the cost of medical bills and lost wages if your employee is injured.

While general liability insurance and workers’ compensation insurance are the two main types of insurance that contractors need, there are other types of insurance that can be beneficial. These include commercial auto insurance, business property insurance, and errors and omissions insurance.

Commercial auto insurance protects you if you or one of your employees damages a vehicle while working. This type of insurance is important if you have company vehicles that are used for work.

Business property insurance protects your business equipment and property from damage or theft. This type of insurance is important if you have expensive tools or equipment that are essential to your business.

Errors and omissions insurance protects you from financial damage if you are sued for something like negligence or malpractice. This type of insurance is important if you provide professional services to your clients.

Are sub-contractors covered under a general contractor’s insurance policy?

In most cases, subcontractors are not covered under a contractor’s insurance policy. This means that if something goes wrong and the subcontractor is sued, the general contractor will not be protected. The best way to protect yourself as a contractor is to require that all your sub-contractors have their own insurance in place. This way, if something goes wrong, the sub-contractor’s insurance will cover the damage.

Should I purchase errors and omissions coverage?

If you provide professional services to your clients, it’s a good idea to purchase errors and omissions coverage. This type of insurance will protect you from financial damage if you are sued for something like negligence or malpractice.

Purchasing the right insurance coverage is essential if you own a gc’s business in Florida.

Finally

If you want to discuss options for general contractors’ insurance, please call us at 561-732-9305. Our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!

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