As a contractor, you are typically not covered by the insurance of the clients you work for. Instead, it is up to you to purchase coverage for the different types of risks and perils you face from job to job. At Giuffre Insurance, we offer flexible insurance products that stand up to the challenges you will likely meet, as well as those you hope never to encounter. From your property to your liability, our Wisconsin contractors insurance gives the confidence you need to run your business with minimal concern for setbacks and loss.
When you choose Giuffre Insurance, you are working with an independent agency that is committed to protecting your financial interests. We can help you shop and compare coverage and rates from multiple Wisconsin insurers until we find the policies you need to mitigate your unique risk exposures.
We can provide commercial insurance solutions for a wide range of contractor fields, including:
- Plumbers
- Electricians
- Carpenters
- HVAC Contractors
- Landscapers
- Painters
- Tile setters
- Builders
- General Contractors
- And more
Contractor Risks and Coverage Types
A major part of building your coverage is understanding your risks. Things can go wrong in the blink of an eye and often at the most unexpected times. What would you do if a week’s worth of construction was wiped out in a storm? How would you afford to replace your vital equipment if it were stolen from a job site? Could you continue to stay in business if you were sued for causing a severe injury to a client or other third-party? At Giuffre Insurance, our job is to approach your risk vulnerabilities from all angles and recommend coverage solutions that minimize your exposure.
Whether you are just getting started or have a long-standing reputation to uphold, your insurance needs as a contractor are likely to be complex and very different from the needs of other types of businesses. There are general coverages that nearly all contractors need, as well as those that are more specific to your industry type. Depending on your unique risks, your coverage may include protection for:
General Liability
Also known as GL, this coverage helps protect you against lawsuits when your business is sued for third-party injuries and other types of damages. It can help pay for the cost of hiring legal representation and paying for your court costs as you defend yourself against victim accusations. It can also help cover any judgments, settlements, and penalties against you up to the limits of your policy if you lose your case. Considering many commercial liability cases end with hundreds of thousands of dollars in damages, having the right GL limits and coverage could help protect your contractor business against financial ruin.
Workers Compensation Insurance
Your job as an employer is to provide a safe work environment. When employees are injured, workers compensation insurance helps prevent lawsuits by paying for employee medical bills, lost wages, and the cost of rehabilitation when they are injured on the job. This no-fault coverage pays benefits regardless of who was responsible for the accident.
Commercial Property Insurance
How much would it cost to rebuild your business from scratch? If a fire caused you to lose everything, could you afford to replace all of your office and job site equipment, as well as your building’s structure and signage? With commercial property insurance, you can protect the things your business owns against a wide range of perils, including fire, theft, and certain inclement weather events.
Commercial Vehicle Insurance
Chances are you operate at least one vehicle for business purposes, and possibly more. With a commercial auto insurance policy, you can protect the money you invested in your work trucks while also safeguarding your business against accident-related liability.
Employee Dishonesty Coverage
If you hire an employee who has ill motives, you could face major losses as a result of his or her dishonest practices. Employee dishonesty coverage helps protect you against the fraudulent acts of a single worker or an entire group of employees.
Professional Liability Coverage
If you make a professional error while servicing a client’s project, you could be responsible for any damages or injuries it causes. Professional liability insurance helps pay for your financial liability when you are accused of negligence.
Tools and Equipment Coverage
You could not do what you do without your tools and equipment. For some contractors, that means hauling heavy-duty equipment like dozers and loaders to and from job sites, putting them at risk every step of the way. If your equipment was stolen or destroyed due to a covered event, tools and equipment coverage could compensate you for your loss to help you resume work as quickly as possible.
Builders Risk Coverage
Building projects can take many months. Until the job is completed and the keys are handed over to the property owner, you might be held responsible for any damages that occur, such as a fire or vandalism. Builders risk coverage helps minimize your financial exposure if your job site is affected by a covered loss.
Excess Liability Insurance (Commercial Umbrella Coverage)
Even with multiple liability insurance policies and high-limit coverage, you could still fall short of the protection you need to stand against a major lawsuit. Excess liability insurance can help you supplement your primary coverage with high-limit protection that extends your insurance limits by millions of dollars. This coverage could be the key to staying in business when a large settlement or judgment might otherwise force you into bankruptcy.
Wisconsin Contractors Insurance
If you work as a contractor in the greater Montello area, we here at Giuffre Insurance want to help you find insurance protection that safeguards your business income and assets against potential loss. Contact our office today to find out how an independent agent can help you save on the commercial coverage you need most.
