Contractors Insurance in Knoxville TN & Oak Ridge TN
Contractors of all types encounter several hazards through their work. Obtaining business insurance for your operations can provide financial coverage for these exposures and reduce your out-of-pocket burden. At Bradley Insurance Agency, we are ready to assist you in securing the insurance you need. Contact us today to get started.
What Coverages Are Available for Contractors?
Comprehensive business insurance can provide coverage for the common risks contractors face. Several types of insurance are generally available, including, but not limited to:
- Liability insurance—This may provide coverage if your business is held legally responsible for the injuries or property damage to third parties. It may also pay for associated legal expenses. Several types of liability insurance may be available, including:
- Commercial general liability insurance
- Products liability insurance
- Completed operations liability insurance
- Pollution liability insurance
- Professional liability insurance
- Cyber liability insurance
- Commercial property insurance—This may protect your business’s physical assets (e.g., your building and its furnishings) if they are damaged by covered causes of loss (e.g., severe weather) by paying repair or replacement costs.
- Builder’s risk insurance—This can provide coverage while a construction project is ongoing if a covered peril (e.g., fire) damages the building under construction, materials or supplies. Protection may apply to property at the job site or temporarily stored off-site.
- Contractor’s tools and equipment insurance—This may pay repair or replacement costs if your movable tools or equipment are damaged, stolen or lost.
- Commercial auto insurance—This may provide coverage if your business-owned vehicles sustain damage or are in an accident. Additionally, hired and non-owned auto insurance (HNOA) may be available to cover vehicles your business rents or leases.
- Umbrella insurance—This may provide another layer of coverage if a substantial liability claim exceeds the limits of your other liability policies.
- Workers’ compensation—This may provide wage replacement or payments for medical expenses if an employee suffers a work-related injury or illness.
Other endorsements, add-ons or policies may be available. Your Bradley Insurance Agency agent can provide more information on options, limits and exclusions.
How Much Is Contractors Insurance?
Policies vary, and several factors impact the cost of business insurance for contractors. The location and size of your business, your trade, your claims history and your selected coverages may impact premiums.
The knowledgeable professionals at Bradley Insurance Agency can help you secure the insurance that fits your business’s needs and budget. Contact us today for more information or a quote.