Contractor Insurance Austin – As a contractor, you are no stranger to the challenges and risks that come with the job. From accidents on the job site to damage caused by natural disasters, it’s essential to have the right insurance coverage to protect yourself and your business. In this article, we will discuss the five essential insurance policies that every contractor should have. First and foremost, general liability insurance is a must-have for any contractor. This policy provides coverage for bodily injury, property damage, and personal injury claims arising from your work. It protects you from the financial burden of lawsuits and medical expenses. Next, workers’ compensation insurance is crucial to protect your employees in case of work-related injuries or illnesses. It covers medical expenses, lost wages, and rehabilitation services, ensuring that your employees are taken care of. Professional liability insurance, also known as errors and omissions insurance, is vital for Austin contractors who provide design and consulting services. It covers claims of negligence, errors, or omissions that may arise from your professional services. Commercial auto insurance is essential if you use vehicles for your business operations. It provides coverage for accidents, theft, and other damages to your vehicles and third-party property. Lastly, property insurance is necessary to protect your tools, equipment, and office space from damage or loss due to fire, theft, or natural disasters. By having these five essential insurance policies, you can confidently tackle your projects knowing that you are protected from unexpected events.

Contractor Insurance Austin

As a general contractor in Austin looking for insurance, you are responsible for coordinating everything that happens in a construction project. Working in conjunction with engineers and architects, you have to supervise the construction site, manage the flow of supplies, oversee crew members and vendors, and communicate important information to various parties involved in the project. With so many responsibilities on your plate, you also become aware of the numerous risks that you face on a daily basis. You are the leader of the band, so you also bear the brunt of accountability when something goes wrong.

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What Coverage Do You Need?

Coverage for Third Party (GL): If your construction site or office ever gets any visitors, you need general liability. This portion of your Texas contractor insurance will pay off the medical bills of anyone who gets hurt while visiting your business property. It will even cover the repair or replacement costs when a visitor’s personal property such as their car is damaged on the premises. Without general liability, you could be sued by your guests for the cost of medical treatment or property repairs, so it’s an important aspect of your Austin contractor insurance. Need help in Spanish?

Tools & Equipment Coverage (BOP): You likely can’t go long without using certain equipment or tools in this business, which means that you would be inconvenienced if those items were ever stolen or damaged. If you could not afford to immediately replace the tools of the trade if anything happened to them, you require tools & equipment coverage. This covers any tools or machinery you use for work, whether you are renting them or own them.

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Employee Coverage (WC): If you employ anyone in your construction business, you need to make sure your Texas contractor insurance features workers compensation. This part of your policy is meant to pay for the medical treatment of workers who are injured in any way while on the job. It also applies if they get sick as a result of working for your company. Workers compensation can pay for lost wages and legal fees, as well. Are you looking for auto insurance?

Business Vehicle Insurance: With Texas being such a large state, you probably spend a lot of your time on the job driving. Whether you just run errands for your business or need to get to different construction sites in the area, protect yourself and your car with business vehicle coverage. You need to add this to your Texas contractor insurance because your own personal car insurance will not pay for the damages when you cause an accident as you are driving for your company.

Bond: The point of adding a surety bond to your Texas contractor insurance is to guarantee your construction services. Without a bond, you have to pay a fine if you do not fulfill the obligations to which you have agreed.

AmeriAgency specializes in providing Austin contractors with general liability insurance and other vital contractor coverages, including builder’s risk insurance, commercial auto coverage, and tool and equipment insurance. Texas Contractors Insurance can be very confusing at times, so we’re here to help you through the process of selecting the right coverage from the right company. We have many companies to find the best possible coverage at an affordable price. We have many years in the construction insurance industry to evaluate your risk and meet your construction company’s coverage needs.

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For more information, call us at 1-888-851-5572. If you would like to receive a fast and free quote, visit us on our webpage!