OSHA Logs - Construction workers wearing hard hats

Entrepreneurs typically need several types of insurance coverage to protect themselves and their businesses from potential risks and liabilities. Some of the most common types of insurance that contractors may need include:

  1. General liability insurance: This type of insurance protects against claims for bodily injury, property damage, and personal injury that may occur in the course of business operations.
  2. Workers’ compensation insurance: This type of insurance provides benefits to employees who are injured or become ill as a result of their job.
  3. Professional Liability Insurance: This type of insurance, also known as Errors and Omissions (E&O) insurance, protects against claims of negligence or errors in the provision of professional services.
  4. Commercial Auto Insurance: This type of insurance provides coverage for vehicles used for business purposes, such as transporting materials and equipment.
  5. Builder’s Risk Insurance: This type of insurance provides coverage for damage to buildings and other structures that are under construction.
  6. Umbrella Insurance: This type of insurance provides additional coverage beyond the limits of other policies.

A contractor’s specific insurance needs may vary depending on the nature of the business and the risks involved. It is important for contractors to work with a qualified insurance agent to determine the most appropriate coverage for their needs.