Contractor Insurance in IL

What Kind of Contractors Insurance Do You Need?

Commercial contractor’s insurance needs will differ from industry to industry and from company to company. Whether your commercial contracting business has one employee or many, the professionals at Illinois Insurance Center can help you find the policy that offers you and your employees that best coverage at the best price.

Commercial contractors insurance can consist of more than one policy, it may include several separate policies with coverage that can be adjusted to suit the contractor’s current needs.

Let Illinois Insurance Center Personalize Your Insurance Portfolio to Meet Your Needs

Policies within the commercial handyman’s insurance portfolio usually include a general liability insurance policy which covers the contractor’s office, employees, hired and non-owned vehicles and legal fees, and offers protection against bodily injury, property damage and negligence claims.

Workers compensation insurance is compulsory for nearly every employer with payroll employees, much like disability coverage for employees. Commercial auto insurance is necessary if the corporation or association claims title to one or more vehicles, and inland marine insurance policies protect materials and products while warehoused or in transit.

General liability coverage is usually offered in $1 million, $2 million and $3 million limits. Depending on the specific focus o the contractor, this liability may be expanded via an umbrella policy or excess general liability rider, or through one or more separate liability policies.

Find Additional Protection Options for Your Field

Contractors working in certain fields may choose to invest in builder’s risk insurance policies. These policies provide coverage for materials, machinery and equipment on the construction site and in transit. Some policies might include coverage for sinkhole collapses, mechanical or electrical breakdowns, scaffolding and construction forms, and other variables not typically addressed by general liability policies.

Workers Compensation for Contractors in Illinois

Workers compensation exposures are high due to the operation of machinery and equipment, work at heights, work on uneven ground, and exposure to underground or above ground cables and lines. Use of power-cutting equipment can result in cuts and possible amputations. Back injuries, hernias, sprains and strains can result from lifting. Chemical applications may cause lung problems along with allergic reactions and other more serious complications. Casual labor, seasonal workforce and high turnover present a significant loss control challenge.

What is General Liability Insurance?

If you want to ensure that your small business has financial protection from unforeseen claims, general liability insurance is a smart investment. While it’s not always required by law, it may be required by certain contracts or lease arrangements. With a general liability policy, it’s easy to get protection from the costs of:

Property Damage

When customer property is damaged by an employee, your coverage may pay for a replacement. For example: Your contractor accidentally sets fire to a building they are working in and repair costs can easily be in the thousands. Now, you may be liable to pay for the damages and construction costs. With small business general liability insurance from Illinois Insurance Center, you would likely have help covering the costs of those damages.

Bodily Injury

If someone other than an employee is injured on your property, this coverage can take care of medical expenses plus legal expenses and damages.

Product Liability

If products developed or sold by your business harm people or property, this coverage can pay legal expenses associated with product liability lawsuits and medical expenses if an injury occurs.

Libel, Slander and Copyright

This coverage can pay for lawsuit expenses from personal and advertising injury. Advertising injury can include disparaging another business in your advertisements, stealing an advertising idea and more.