When looking for affordable insurance construction type definitions Cinco Ranch, TX, Texas Insurance Agency can help you find the best rates! Our team of agents has the knowledge and expertise you can trust. We’ll find the right coverage best suited to your needs and budget.
Stay Safe With Insurance Construction Type Definitions Cinco Ranch, TX
Having adequate insurance coverage is one of the best decisions you can make. These policies protect you and your employees whether you’re an independent contractor or a big construction business. Without comprehensive coverage, you’re putting yourself at risk of legal fees, medical costs, and repair and replacement from property damage.
Before a construction job can even begin, by law in Texas, you must be insured. Having insurance is especially vital for independent contractors, who may not have the cushion that big companies do. It provides protection in the event of any damage or injury. It also shows potential clients that they’re hiring a quality contractor who cares about the work.
There’s a wide variety of possible commercial insurance coverage your construction business may need. You may think you’ll need everything available to be fully covered. But the cost of that kind of coverage can become massive.
With years of experience, the agents at Texas Insurance Agency have developed a firm understanding of all insurance coverages. They can help you navigate each one, designing a policy with everything you’ll need to keep protected.
Construction Insurance Needs
Amidst that wide variety of insurance construction type definitions Cinco Ranch, TX, a few stand out and are worth consideration. Our agents can walk you through your potential options and help you ones that’ll work best. The most common construction insurance coverage you’ll want for your business includes the following:
Contractors’ insurance protects against business liability exposures. Accidents can and will always find a way to occur. Whether leading a crew on a job site or working at someone’s home, the right policy will provide excellent protection.
While not every coverage is needed for a contracting job, there are some that all contractors are required to have. These include General Liability and Commercial Auto insurance.
General liability insurance is usually required for contractors before a job can begin. Liability lawsuits could arise from a customer, business partner, or employee due to faulty work, damage to property, or employee injury.
Regardless of the business being operated, this insurance is an excellent benefit to have in your corner. While not a requirement in Texas, general liability is designed to protect business owners in the event of:
- Bodily injury
- Property damage
- Advertising injury
- Personal injury
General liability insurance can help cover the cost of legal fees, medical expenses, and settlements, among other things. Without this coverage, you could end up paying for them out of pocket, and these fees quickly add up.
General liability isn’t just a benefit for big businesses but small ones as well, which independent contractors are. Without the financial cushion, a small business could crumble under the weight of any amounting fees. These policies tend to be less expensive, and their coverage is invaluable.
Additionally, you may also want to consider commercial umbrella liability insurance.
Umbrella liability insurance provides a business additional coverage on top of the established policy. If you’re hit with a liability lawsuit, the coverage offered under general liability may only cover so much. But an umbrella policy can cover any costs that exceed the liability limit. This will prevent you from having to cover that cost out of pocket.
Umbrella liability insurance covers commercial auto, workers’ compensation, general liability, and team member benefits liability. It’s especially beneficial for a construction business. Due to the increased risk to employees and when you’re operating on someone else’s property.
Commercial auto is necessary for a fleet of work trucks or a single work vehicle. Commercial auto covers vehicles that are used for anything work-related, like carrying equipment or material. While it doesn’t specifically cover that equipment or material, it will cover tools attached to the vehicle, like a ladder.
Commercial auto insurance offers more protection that a personal auto insurance policy doesn’t provide. It will cover the following:
- Vehicle damage
- Any injuries the driver may sustain in an accident
- Damage to someone’s property
- Injuries sustained by someone else.
Tool & Equipment Insurance
They may not be covered under the commercial auto policy, but you can insure tools and equipment. Anything you rely on for a construction job can be covered under a Tool & Equipment policy. These tools could be a generator or welder. In the event that they’re lost, stolen, or damaged, this policy will cover the cost of repair or replacement.
Builders’ Risk Insurance
Builders’ risk insurance is also beneficial for contractors that are constructing a building. This insurance coverage provides protection in the event of a fire, flooding, theft, or vandalism. It covers costs due to any damages or that arise from construction delays.
Everyone has heard of Workers’ Compensation even if you’ve never had a reason to use it. Contractors are required to provide their employees with protection. With it, they’ll be able to cover any costs from team member injury and lost wages.
Build A Better Business With Quality Insurance
Texas Insurance Agency strives to provide our clients with a professional and honest approach to insurance coverage. Whether you’re looking for business or personal insurance, our agents can help you find the right coverage to protect you.
As Texas’s leading independent insurance agency, our success is built on our integrity. We listen to your needs concerns and tailor a policy with only what you need to have peace of mind. All at the best price possible.
Our office is conveniently located in Katy and proudly serves Cinco Ranch and the rest of the Katy area. With additional locations available in North Houston, Tanglewood, Pearland, and The Woodlands, we’re available no matter where you may be located.
We don’t work for the big insurance companies. We work for you. Discover the difference and contact us today. Let us get you covered for your insurance construction type definitions Cinco Ranch, TX.
Fun Facts About Cinco Ranch, TX:
- Cinco Ranch was once a working cattle ranch and rice farm.
- Cinco Ranch is named after the five families that partnered in the 1930s.
- The Cinco Ranch area is known as a UFO hot spot.