Contractors Liability Insurance

General contractor insurance, sometimes referred to as handyman insurance, is a necessity for anyone working in the industry. That includes a long list of people. Unfortunately, your contracting business is a unique business and there is no one-size-fits-all policy that will work for all contractors.

Whether you’re a contractor, a subcontractor, or a jack of all trades, you need to make sure you have the right type of insurance. This means you’ll need more than one coverage in most cases.

What Types of Insurance Coverage do Contractors Need?

While there are no set in stone requirements for coverage that meets the needs of all contractors in the state of New Jersey, there are a few types of insurance coverage that are common among contractors. Donnelly & Sproul will be happy to discuss your individual business needs to create a policy that offers robust protection for your business and may include any of the following types of insurance coverage.

  • Independent Contractors Liability Insurance. This insurance protects you from liability related to damage or injury caused by independent contractors you hire to work on jobs.
  • Environmental Liability Insurance. Sometimes the work you do as a contractor causes harm to the planet. With increased focus on this harm and new legislation almost daily, this type of coverage can assist you with the cleanup and correction of environmental harm caused by the work you do.
  • Commercial Auto Insurance. You’ll need auto for work trucks on the road as well as trailers you have to carry supplies and equipment. Also consider non-owned vehicle liability coverage for workers that carry equipment and supplies on their personal vehicles as an added layer of protection.
  • Workers’ Compensation Insurance.  Most businesses in the state of New Jersey are required to provide workers’ compensation insurance for their employees. In high-risk industries, like the construction industry it’s more than a suggestion. It can save your business from the lawsuits and potential liability that would otherwise result in the event that workers are injured, disabled, or killed while performing their duties for your business.
  • Business Owner’s Policy. This standard policy offers a modest amount of coverage for general liability, business property damage, inventory, office equipment, and loss of business income.
  • Professional Liability Insurance. Also referred to as Errors and Omissions Insurance, this policy protects your contractor business from mistakes, errors, or omissions made by you in your professional capacity. It helps to cover legal expenses when defending yourself against claims and to pay settlements or judgments, up to the covered amount, when necessary.
  • Contractors Equipment Insurance. This can be a floater policy that covers damages to a contractor’s equipment that is damaged by covered events (breakage, theft, fire, etc.).
  • Installation Floater. Covers equipment, materials, supplies being installed or awaiting installation at a job site.

Why Choose Donnelly & Sproul?

Donnelly & Sproul has been serving Glen Rock and New Jersey businesses since 1927, making us one of the oldest and most trusted insurance agencies in the state. We are proud of our long-time commitment to the people and businesses of New Jersey and remain committed to providing fair and honest treatment to all of our clients. This philosophy has served us well and we believe it will continue to do so as we move toward the century mark in our business and beyond.

We believe it’s important for you to understand the different information that goes into our quotes and will take the time to educate you about the unique risks your contractor business faces so that you can get the right coverage to meet those needs.