How to Get General Contractor Insurance for a New Business

Starting a new contracting business without insurance puts your operation at risk, as even a single claim or accident could cost more than a new business can handle. Garlesky Insurance Agency provides policies designed for contractors in Cuyahoga Falls, OH.

Why General Contractor Insurance Matters

General contractor insurance is essential for any new construction business. It can cover financial losses from property damage, injuries or on-the-job legal claims. Having the right coverage in place is often required to obtain licenses, bid on projects and build trust with clients.

Key Coverages for New Contractors

When setting up your insurance, consider these important types of coverage:

• General liability insurance can cover third-party claims for bodily injury or property damage.
• Workers’ compensation insurance may be required if you have employees and can cover medical expenses and lost wages for work-related injuries.
• Commercial auto insurance can cover vehicles used for business purposes, including the transportation of tools and materials.
• Tools and equipment coverage may help replace or repair your tools if they’re stolen or damaged.
• Professional liability insurance can cover claims if a client alleges your work caused them financial harm.

Steps to Get General Contractor Insurance

These steps can help you get started:

1. Assess your risks: Consider your business size, project types and staffing.
2. Gather your business information: Have your structure, services and revenue details ready.
3. Work with a local insurance provider: An experienced agent can help you find the right fit.
4. Review and customize your policy: Match your coverage limits to your business needs.
5. Maintain and update your coverage: Revisit your policy as your business grows.

We Can Help New Contractors

Contact Garlesky Insurance Agency today to get a free custom quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.