Whether you are an HVAC contractor, an electrical contractor, or a plumbing contractor, one thing is certain: contractors need insurance. But not all insurance plans are alike. Nor are all insurance agents the same. Jeff Van Matre of the Jeff Van Matre Agency has years of experience in dealing with contractors and their insurance needs, and as an independent agent, he’s dedicated to building a plan that maximizes your benefits while minimizing your insurance overhead.
Types of insurance:
Most contractors will need at least three types of insurance:
Worker’s compensation insurance
Every contractor should have worker’s compensation insurance; in fact, it is required in many states, and to bid on most jobs. Worker’s compensation insurance will protect you if one of your employees is injured on a job site. Not only will it cover the medical costs, it will typically also provide wages for the injured employee. Without adequate worker’s comp insurance, the medical expenses alone from one work related injury could cripple or wipe out your contracting business.
General liability insurance:
General liability insurance covers your business in the event that someone other than yourself or your employee is injured during the course of your work. It also protects you from liability from unforeseen incidents that can occur due to the work you performed, or the equipment or parts used. Your equipment itself should also be covered under general liability insurance, as well as any damages that arise from false advertising.
Most contractors also need an umbrella policy for added protection. Both your worker’s compensation insurance and your general liability insurance policies have stated limits as to the amount of coverage they provide. An umbrella policy extends those limits to offer additional coverage in the event of a major injury or claim that’s not covered under your other insurance plans.
About Jeff Van Matre Insurance Agency:
To learn more about the advantages of dealing with an independent insurance agent who understands the unique insurance needs of contractors, call the Jeff Van Matre Insurance Agency at 972-492-8500, which offers customized insurance policies that feature a variety of coverage options. Contact us today to discuss a policy or receive a quote. Located in Carrollton TX, we proudly serve individuals and businesses in Carrollton, Lewisville, Dallas, Irving, Plano, and surrounding communities.