No matter the size of the job or your business, general contractor insurance Tanglewood, TX is important coverage to have. This is an essential insurance requirement for any contractor. Texas Insurance Agency is here to help you find the right policy to protect you and your business.
Top Priority For General Contractor Insurance Tanglewood, TX
Even when you’re taking all of the necessary precautions on the job site, accidents can and will always happen. General contractor insurance Tanglewood, TX is one of the most important tools for a contractor or commercial construction company to have. In the event of any damages or claims, this insurance will protect you and your business from liability.
If you’re in construction, plumbing, carpentry, landscaping, or another trade altogether, this is an important and useful insurance for your business. It can protect you from debt issues due to work-related accidents. It can also mean the difference between losing or keeping your business.
More often than not, a project won’t be able to begin without proof or a certificate of insurance. However, every company’s need for contractor insurance is different.
This insurance can differ from the general liability insurance most businesses require. Still, it is essential for any contractor or commercial construction company to purchase the proper coverage needed for their protection.
That’s where Texas Insurance Agency can help. We’ll guide you through the process and be a helping hand to find the best policy that fits your business’s needs.
The Importance Of Contractor Insurance
General contractor insurance is commercial insurance that covers a construction business and the owners for any liability because of:
- Damage to property on the job site
- Personal injury
- Advertising injury (such as libel, slander, or false advertising)
In the event that these occur, you can be sure the contractor in charge will be the one receiving any claims. As such, having the right insurance coverage can protect you from this. General liability coverage will apply to any loss that may occur – whether at the place of business or wherever work is being performed.
Texas Insurance Agency has the knowledge and experience to assist you with any questions you may have regarding this business insurance.
Two Main Types Of General Contractor Insurance Policies
Depending on how a claim is paid, there are two main types of general contractor insurance. These are:
- Claims-Made policies, which will cover any claims made for damage or injury to occur while a policy is in effect. However, these must be claimed while the policy is in effect. Claims made after a policy has ended will be denied.
- Occurrence Liability policies, which will cover any claims made for damage or injury, even if a policy has ended. This means that no matter when these claims are filed, they will not be denied.
Occurrence Liability policies are the most common. They offer simple, complete coverage. However, because they pay for claims even after a policy has expired, they often carry a higher premium.
Claims-Made policies usually have lower premiums because there are restrictions on when a claim can be made. However, this can result in a business having to cover the cost of its claims. This is because claims must be filed by a certain date.
- Claims-Made policies usually come with extended coverage.
As with just about any insurance policy, General Contractor insurance does come with policy exclusions. These do not cover certain types of claims.
- The most common policy exclusion is any damage that may occur because of the contractor’s work. This means that any costs to come from the repair or replacement of the original work will not be covered.
- Workers’ Compensation and Employer Liability are both excluded.
- Pollution incidents and exposure are not covered.
- Any business at risk for spills that may cause damage to property or injury is also not covered by this policy.
Because of these exclusions, additional insurance coverage is highly recommended.
The right insurance coverage for independent contractors not only protects your business but can help build your success.
- Potential clients may also be hesitant to work with an independent contractor that isn’t insured. They could be the ones held responsible for injuries and property damage.
Like any small business, independent contractors need insurance coverage to protect them from liability.
Insurance coverage for a contracting business of any size is required by law. It’s also absolutely necessary to ensure you and your business are protected from lawsuits and legal fees.
Liability insurance for contractors will typically cover your business from being held liable for accident exposure while on a job site. But with the right policy in place, your company vehicles and employees will also be covered.
Contractor insurance provides protection through:
- General Liability, which will protect your business from being held liable for anything from faulty work to property damage.
- Commercial Auto, which will protect your company’s vehicles for work-related business, such as delivering material or transporting tools.
An Insurance Company That Works For You
While other insurance companies care about their bottom line, Texas Insurance Agency cares about the people. We are proud to represent Houston businesses by providing the very best insurance at affordable prices. We pride ourselves on being an independent insurance agency that works for you.
We know insurance is never fun, and contractor insurance in Texas can be especially difficult to navigate. With that in mind, Texas Insurance Agency is here to guide you through it. We’ll help find you the best policy for your business’s needs.
We offer free quotes, and our website is always available 24 hours a day to answer any comments or questions you may have!
Fun Facts About Tanglewood, TX:
- Tanglewood was once home to former President George H.W. Bush.
- Billy Gibbons of ZZ Top fame once lived in the Tanglewood area.
- The Tanglewood area is home to The Houston Galleria.