Are you searching for Pearland TX Contractor Insurance? If so, don’t hesitate to contact the team at Texas Insurance Agency. We have the expertise to help you find the right policy for your insurance needs. Moreover, you can rely on us because we only partner you with the best of the best in the insurance industry!
Texas Insurance Agency has been working for the Houston area for over two decades. In that time, we have served thousands of satisfied clients, helping each one take measures to protect the future of their business.
Whether you are a contracted construction worker or plumber, our team has got you covered. We will help you find the right agent and policy so that you never have to work about the financial consequences of unexpected incidents. Keep reading to find out more about Pearland TX Contractor Insurance!
What is Contractor Insurance?
Contractors are individuals who own their own company but operate primarily by performing services at the homes of clients. For example, most plumbers, electricians, and construction workers are contractors hired for a specific project.
As a contractor, an individual is hired to complete a project under stipulations that are outlined in a contract. These stipulations include elements like the cost, scope, and time frame of the project. It can also include subsections that outline the circumstances under which the contract can be terminated.
So, this begs the question: why do you need contractor’s insurance? This type of insurance isn’t limited to one policy. In fact, there is an assortment of different policies that cover certain aspects of your work life. This coverage comes in the form of financial assistance when the unexpected happens.
For example, if you are an electrician and make a mistake that causes a small fire in the home of your client, you will be held liable for damages. Additionally, if injury occurs to the client, medical expenses will fall to you.
A general liability policy is just one example of insurance that will help you maneuver through this type of situation with minimal financial loss. It is important to keep in mind that if a client is not satisfied with the compensation amount, they could file a lawsuit against you.
When this happens, knowing whether your insurance policy covers legal fees makes a world of difference in the liability you hold for court and attorney fees. Contact your insurance agent today for more information!
Types of Contractor Insurance Policies to Consider:
If you own a small company, chances are you employ a small team of individuals to help you complete projects. If this is the case, worker’s compensation is an excellent addition to your contractor insurance coverage.
There are few jobs, after all, that can be performed alone. Not to mention, teamwork usually ensures a job well done. Worker’s compensation takes care of your employees when on-the-job accidents happen. There are a slew of coverage options, but most worker’s comp at least includes death, disability, and medical expense benefits.
Additionally, in the instance that the injured party files a lawsuit, worker’s comp covers the legal fees that would otherwise be out-of-pocket. A similar type of insurance policy is occupational accident coverage.
However, there are significantly fewer benefits for this coverage. This type of policy is mostly suited for a small business that presents a low-risk work environment.
Inland Marine Coverage
Truckers are commonly contract workers that pick up jobs from transportation companies. There are some insurance policies that are geared for truckers and their specific coverage needs. One such policy is inland marine coverage.
Truckers haul everything from food to equipment to auto parts. There are times when these goods can be damaged in transit. For that reason, most trucking companies will retain an inland marine policy that offers coverage for hauling goods across the country.
A general liability insurance policy covers injuries to a third party that happens as a result of negligence or misconduct on the part of your business or employees. It also offers coverage for damage to property owned by a third party.
For example, let’s say you are a construction worker at a job site, working with a team of employees. If, while giving a tour, a client sustains an injury because they did not wear a hardhat while at the job site, then you might be liable for medical expenses. After all, it would have been the responsibility of the tour provider, your employee, to make sure everyone wore a hard hat.
The right general liability insurance policy can provide financial assistance that covers medical expenses, legal fees, and settlement of disputes. Talk with your insurance agent to make sure you get the right custom policy for your needs.
As a general contractor, chances are you have a vehicle that you use for both personal and commercial purposes. If this is the case, consider insuring it under a business auto policy rather than a regular one. A commercial policy can offer additional benefits to you, as a business owner.
Elements that Influence the Cost of Your
There are several different factors that will affect the cost of your contractor’s insurance coverage. Most of the time, bundling several policies together can keep the cost relatively low. However, it will also depend on the following factors:
- claims history
- number of vehicles and employees
- general coverage requirements
Pearland TX Contractor Insurance
Texas Insurance Agency is here to help you find the right insurance policy for your business. Our mission is to partner you with the best of the best in the insurance industry. Having the right agent, and one that has worked in your industry is an advantage you don’t want to miss out on!
For more information about Texas Insurance Agency, visit our website! There, you can also read our blog, find our locations, and request a free quote! For your Pearland TX Contractor Insurance needs, contact Texas Insurance Agency today.
Pearland, TX Fun Facts:
- In 1934, Pearland residents struck oil.
- Pearland was founded in the late 19th Century.
- Downtown Houston is located just thirty minutes from Pearland.
- For more information about Pearland, TX, visit the city’s website!