Keep yourself and your business protected by working with a preferred contractors insurance company Katy, TX. You’ve worked hard to build up your business and make a name for yourself in your industry. To stay safe, it’s a smart idea to invest in coverage that will protect your business in case of emergencies. No one wants accidents to happen on the job, but if they do, you’ll want to ensure that you’re fully covered.
If you don’t know who to turn to for insurance advice or help to select a good plan, you don’t need to worry. Texas Insurance Agency is here, and we help clients find all kinds of insurance policies to suit their needs. We can help you find great coverage, whether you need a personal policy like homeowners insurance or commercial coverage like business insurance. We’ve spent years building relationships with local Katy clients, and we’d love to work with you, too!
Don’t let a small accident be the downfall of your budding company. Get insured now to protect yourself and your business. You’ll be glad you did when you realize how much money you can save with the right kind of policy. Instead of paying out of pocket for any damage that might happen to you, your tools, or a third party, a reliable insurance plan will take care of you.
Call us today to speak to one of our helpful insurance agents who can help you find the best policy. You can also visit our Katy office to discuss your coverage needs with us in person. We’ll show you why our clients regard us as a preferred contractors insurance company Katy, TX!
Why Work with a Preferred Contractors Insurance Company Katy, TX?
Contractor’s insurance is a type of business insurance policy that provides coverage for independent contractors and their businesses. It’s designed to protect contractors from losing money as a result of accidents, errors, or other unforeseen events that happen on the job.
Independent contractors need contractor’s insurance because their clients’ insurance plans usually don’t cover them. This means that the worker could be held responsible for any damages or injuries that happen on the job site if something goes wrong.
What is Preferred Contractors Insurance?
“Preferred contractors insurance” isn’t actually a specific type of insurance policy. However, some insurance companies tend to use this term to refer to a package or bundle of insurance policies designed for independent contractors.
Some insurance types that might be included in these bundles are general liability insurance, commercial auto insurance, and insurance for tools and equipment. The idea behind these special bundles is to give independent contractors a complete way to meet their unique needs, which can change based on the kind of work they do.
Having one of these packages can provide several benefits to independent contractors, including:
- Convenience: Bundling several types of policies together can make it easier to manage and coordinate your coverage.
- Cost savings: Putting several policies together can often result in lower premiums and overall costs compared to buying each policy separately.
- Comprehensive coverage: These plans can cover many of the specific hazards that contractors face on the job.
What Contractors Insurance Covers
Contractors insurance typically consists of several parts, including general liability, professional liability, and property damage. We’ll talk more about these different policies below.
General Liability Insurance
A simple way to start insuring your business is with general protection that covers a wide range of situations. General liability insurance is a type of business insurance that shields companies from third-party claims of bodily injury, damage to property, and personal injury. It can help keep your business safe from lawsuits or claims that could happen while you’re working.
For example, if a contractor is working on a client’s property and damages it, this insurance can help pay to fix the damage caused. Also, if a client or other third party gets hurt on the job site because of the contractor’s carelessness, this insurance can help pay for their medical bills and legal fees.
If independent workers don’t have general liability insurance, they could be held personally responsible for any damage or injuries that happen while they’re working. This could cost them a lot of money in the form of legal fees, settlements, or judgments, and it could hurt their image.
General liability insurance may also be needed for independent contractors to work on certain job areas or for certain clients. By getting this insurance, independent contractors can show that they are taking steps to protect themselves and their customers from possible risks.
Commercial Auto Insurance
A self-employed worker may need commercial auto insurance if they use their car for work-related purposes like moving tools or going to job sites. Standard personal auto insurance policies usually don’t cover accidents or damages that happen when a car is being used for work. This can put independent contractors in a lot of financial danger, especially if their job requires them to do a lot of traveling.
Commercial auto insurance covers any vehicles that are used for business. It covers liability for injuries and damage to property, as well as damage to the vehicle itself. Suppose you’re a plumber and you have a work truck that you use to carry your equipment and travel to different jobs. If something happens to your work truck while you’re on a job, such as a car accident, your insurance will help you get it fixed or replaced in no time.
Builders Risk Insurance
Builder’s risk insurance is a type of property insurance that covers buildings and other structures while they are being built or fixed up. It can help protect against money losses that could happen if materials, tools, or the building itself get damaged or lost during the building process.
This type of insurance usually covers fire, damage, theft, wind, and hail, among other things. It can also cover damage to the supplies, tools, and equipment used during the building process. Also, if a covered loss happens, the builder’s risk insurance can pay for the costs of cleaning up, removing debris, and rebuilding.
Tools and Equipment Insurance
Tools and equipment insurance is a type of policy that covers an independent contractor’s tools and equipment in case they are lost, stolen, or broken. This can include tools like power saws, drills, and hammers, as well as bigger machines like backhoes, bulldozers, and cranes.
A self-employed worker may need tools and equipment insurance if they depend on their tools and equipment to do their job and would lose a lot of money if they were stolen, broken, or lost. Most insurance plans for tools and equipment cover theft, fire, vandalism, and damage that happens by accident, among other things. They may cover the cost of fixing or replacing lost or broken equipment, as well as the cost of renting replacement equipment while repairs are being made.
Reach out to Texas Insurance Agency today to work with a reliable preferred contractors insurance company Katy, TX!
Fun Facts for Katy, TX:
- Katy is rumored to be named after the MKT Railroad.
- The city’s early economy was based on farming.
- Katy is part of three different counties: Fort Bend, Harris, and Waller.