Contractor Bonding And Insurance Company

While business insurance may not be required by law, without insurance you could be held personally liable for a mistake on the job. Please reach out to The Allen Thomas Group's commercial agent for more details and a customized quote. That said, average costs for key coverages fall into these ranges:General liability: $25-$120 per month per $1 million in coverageWorkers' comp: $15-$50 per $100 of payrollBuilders risk: 0.3% - 2% of project valueBusiness auto: $150 - $350 per vehicle per monthUmbrella: $300 to $500 per $1 million in extra coverageMany factors determine your precise rates. Contractors need to purchase vicarious liability coverage to protect them against vicarious liability resulting from ongoing operations performed or managed negligently by the designated "contractor". A certificate holder is simply the business or contractor that carries the coverages as described on the certificate of insurance.  A certificate holder is simply the business or contractor that carries the coverages as described on the certificate of insurance. 

As you go about your day-to-day work as an electrician, lawn care provider or carpenter - let us work behind the scenes to protect your small business with Artisan & Service Contractor Insurance from The Allen Thomas Group. Policy limits - higher liability limits and lower deductibles mean higher premiums. Provides organizations of all sizes coverage to help protect against data breaches and other fast-evolving cyber exposures. We'll stand by you like family and empower you to run your business with confidence. We'll stand by you like family and empower you to run your business with confidence.

It is essential to have the right insurance in place to protect against unforeseen events and potential liabilities. Our team of experts can work with your budget to help you secure customized commercial auto and business insurance policies. It covers the costs of medical expenses, property damage, and legal fees that may arise from such incidents. Being an additional insured means you are covered by their insurance for the duration of the job or longer. Being an additional insured means you are covered by their insurance for the duration of the job or longer.

Legal Defense: Contractors need to have a solid legal defense strategy in place to protect themselves from potential liabilities. Details of coverage, limits, or services may not be available for all business and vary in some states. It protects contractors from legal and financial liabilities arising from accidents or injuries that occur on the job site.2. Contact us today to discuss your unique risks, get a fast quote, or review your current policies. Contact us today to discuss your unique risks, get a fast quote, or review your current policies.

The foundation of a contractor's insurance program is General Liability Insurance. This guide will provide an overview of essential coverages, insurance costs, and tips for choosing the best insurance agency for your contracting business. The right insurance protects you if sued. As self-employed or independent contractors, self-use of personal vehicles for business use may void their personal auto policy. As self-employed or independent contractors, self-use of personal vehicles for business use may void their personal auto policy.

Start by calling us or starting a quote online. Health insurance can deny claims for work-related injuries, which means you could end up facing medical bills and lost income while unable to earn a living. Avoid choosing coverage based on cost alone and work with agents who truly understand your business. Equipment and tool coverage: Contractors rely on various equipment and tools to complete their work. Common trades that need contractors insurance include:Even if it isn't required by contract, having insurance is always prudent.
 Common trades that need contractors insurance include:Even if it isn't required by contract, having insurance is always prudent.


Please fill out The Allen Thomas Group's online application and get in touch with one of their licensed insurance specialists to get assistance for your unique business insurance needs.
 A client trips and falls on your worksite. Specific details, limits or services may not be available to every business in all states; all coverages are subject to their terms, provisions, exclusions and conditions outlined within a policy or endorsement and any associated endorsements. Fifty-three percent of contractors report that professional positions – project supervisors, estimators and engineers – are difficult to fill. Fifty-three percent of contractors report that professional positions – project supervisors, estimators and engineers – are difficult to fill.

The information provided on this website does not constitute insurance advice. Comprehensive policies protect against liability claims and property damage if your drivers cause an accident. An additional insured may be covered when sued for bodily injury, property damage and advertising injury claims. The Allen Thomas Group can assist individuals and businesses, from small to multinational enterprises, with their commercial surety needs. The Allen Thomas Group can assist individuals and businesses, from small to multinational enterprises, with their commercial surety needs.

This coverage ensures that any damage or loss to these essential items is covered, allowing contractors to continue their work without significant interruptions or financial setbacks. Contractors insurance from The Allen Thomas Group protects small businesses like painters, carpenters, landscapers and other tradespeople with a variety of coverages to help them take on the financial impact of work-related accidents. Don't wait for a loss to realize you're underinsured – be proactive and protect your assets with The Allen Thomas Group. Our veteran agents take time to explain how policies apply to your real-world scenarios. Our veteran agents take time to explain how policies apply to your real-world scenarios.

Contractor liability refers to the legal and financial responsibility that contractors have towards their clients and third parties. Coverages provided by contractors insurance can differ depending on the business in which they're being insured, but typically include general liability coverage to protect you in case anyone gets hurt, property is damaged or other unfortunate incidents arise. General liability insurance provides coverage against both of these issues. General liability insurance provides coverage against both of these issues.

Subcontractors offering specialized services like electrical work or plumbing may only require smaller caps. Builders Risk Insurance is designed to cover the unique risks contractors face at active construction sites. If you own or rent a workspace, or if you have expensive equipment, inventory, and other business assets, commercial property insurance would help pay for the repair or replacement if your business property is stolen, damaged, or destroyed. If you own or rent a workspace, or if you have expensive equipment, inventory, and other business assets, commercial property insurance would help pay for the repair or replacement if your business property is stolen, damaged, or destroyed.

Our experienced team at The Allen Thomas Group stays on top of your state's evolving laws and requirements to keep your business fully compliant and protected. - Legally required in most states- Transfers responsibility for job-related employee injuries - Includes legal defense against worker negligence claimsYour company's vehicles are on the road daily traveling between jobs, hauling equipment and shuttling staff. This policy pays for damage to the ongoing project itself - like the structure, materials, fixtures and any equipment being installed. The contractor's understanding of legal claims and litigation is crucial for mitigating risks and ensuring a successful resolution. The contractor's understanding of legal claims and litigation is crucial for mitigating risks and ensuring a successful resolution.

Though some companies provide "one-size-fits-all" contractors insurance policies, we recognize each contracting business is different and our insurance experts will work with you to customize a policy specific to your contracting business's needs - that way you only pay for coverages you actually require.
 Running a contracting business comes with many risks that can lead to expensive claims, lawsuits, or losses. Learn more about what general liability insurance covers. As a contractor, you need several types of insurance for full protection. Provide organizations of all sizes with coverage against data breaches and other fast-evolving cyber risks.
 Provide organizations of all sizes with coverage against data breaches and other fast-evolving cyber risks.


Independent contractors may also be sued and held liable for damages, just like other small business owners. Surety bonds - Types like license & permit bonds guarantee you'll comply with laws and complete projects per contract terms. Typical limit is $1 million. Contractors insurance provides your business with essential protection against financial debt incurred as the result of work-related accidents, and should provide adequate coverages that match its exposure should your livelihood be compromised. Contractors insurance provides your business with essential protection against financial debt incurred as the result of work-related accidents, and should provide adequate coverages that match its exposure should your livelihood be compromised.

Moreover, contractor insurance can also provide liability coverage, which protects contractors from legal claims and lawsuits arising from accidents or property damage. It could cover you if your business is liable for things like injuring people, damaging property or faulty work. Without proper insurance, a single incident could devastate your finances or even put you out of business. It’s important to protect your livelihood with adequate coverages and limits that match your exposure in case your business is threatened. It’s important to protect your livelihood with adequate coverages and limits that match your exposure in case your business is threatened.

This not only helps contractors avoid financial burdens but also ensures that clients are not left with the financial burden of repairing or replacing their property. If you intend to buy both general liability and commercial property coverage, you can reduce your insurance costs by bundling them into a business owner’s policy (BOP). Personal assets - Without proper business insurance, plaintiffs can go after your personal assets in a lawsuit. We offer insurance by phone, online and through independent agents. We offer insurance by phone, online and through independent agents.

General liability coverage is required of contractors before beginning work on any job. This can include legal expenses, settlement costs, and damages awarded to the injured party. Independent contractors typically have insurance obligations in their work contracts that they have to fulfill. Purchased by contractors to protect owners against vicarious liability for ongoing operations performed by, or the owner’s negligent supervision of, the designated “contractor.”Required of contractors who perform work on or around railroad tracks, railroad right-of-way or owned railroad property. Purchased by contractors to protect owners against vicarious liability for ongoing operations performed by, or the owner’s negligent supervision of, the designated “contractor.”Required of contractors who perform work on or around railroad tracks, railroad right-of-way or owned railroad property.