Insurance Contractors and Builders Need

As a contractor or builder, you need insurance to protect your future. In the high-risk construction industry, lawsuits are just around the corner. Berks County Insurance, which serves Reading, PA, has the products to safeguard what you’ve built.

When you have Commercial Liability insurance, your business has the safeguard of coverage if a third party files a lawsuit claiming bodily injury, property damage, or, in advertising, libel, slander, or copyright infringement. Whereas the above-mentioned policy protects your business if you’re sued by a third party, you also need workers’ compensation to pay for the medical expenses and lost income resulting from on-the-job injuries to your employees or you. Like contractors and builders, subcontractors should also carry liability and workers’ comp. 

Another insurance to consider is Builder’s Risk, which covers a building under construction. Since the materials used in construction are costly, it’s good to know that this insurance usually covers your tools and equipment at the job site while you are completing the structure. If you have Commercial Property insurance, the loss of tools and equipment due to fire, theft or vandalism at your business’s permanent location will be paid for. Combining the benefits of liability insurance with property insurance into one policy is Business Owner’s insurance. As for the vehicle you use as a contractor or builder, generally speaking, your personal auto policy will not cover it. Therefore, you will probably need a commercial auto policy.

Aside from protecting what you have accumulated, another reason to get commercial insurance is that many businesses will not enter into a contract with you unless you have it. Contact Berks County Insurance, which serves Reading, PA, to speak to a knowledgeable agent who can put your business on more solid ground with the right coverage.