Contractors Insurance in Moreno Valley, CA
Contractors insurance serves as a crucial protective measure for both individuals and companies operating in the construction industry. It can help shield contractors from financial losses arising due to unexpected events during projects. Acquiring the appropriate insurance as a contractor is essential for risk management and the overall success of construction endeavors.
What Does Contractors Insurance Cover? 
The following are common types of coverage included in contractors policies:
- General liability insurance can financially safeguard contractors against third-party claims involving bodily injury, property damage or personal injury arising from their operations on a job site or at their place of business. It may cover legal fees, third-party medical expenses, settlements or judgments resulting from such claims.
- Workers’ compensation insurance can benefit employees who experience work-related injuries or illnesses. This coverage may include medical expenses, lost wages, disability benefits and rehabilitation costs. It may also offer protection to employers against lawsuits filed by injured employees.
- Property insurance can financially protect physical structures, such as buildings and garages, and their contents from risks like fire, theft, vandalism or severe weather. It can assist in covering the costs associated with repairs or replacement.
- Builders risk coverage is geared toward construction projects in progress. It can help cover the cost of damage to structures, materials and equipment resulting from a covered incident.
- Professional liability insurance can protect contractors who provide professional services or advice. It may help cover claims related to negligence, errors or omissions in areas such as design, project management or consulting services. Professional liability insurance is crucial in the construction industry, where mistakes can have significant financial consequences.
Contractors Insurance for Specific Industries
The following are some examples of professions that may need insurance:
- General contractors
- Construction companies
- Roofers
- Plumber
- Electricians
- Landscapers
If you’re in any of these industries, contact [email protected] about getting contractors insurance to protect your business.