Will buying the cheapest General Liability insurance for contractors make your construction business more vulnerable? Whatever the size, location, and nature of your contractor business, it is essential to understand that it is susceptible to financial losses. Furthermore, will cheap coverage do the job of protecting your business, or will it just add to your worries? Let’s find out.
There could be situations where clients injured or their property damaged, and your business or third parties contracted by you are held responsible. Such claims have the potential to wipe out a small business and cause severe losses to larger ones. A suitable insurance policy can help you meet costs as well as pay for the right legal defence.
The real value of an insurance agent
Finding the right insurance service provider can be challenging. The process can eat into your valuable time. You can utilize this limited resource elsewhere. At Contractors Liability, we work with 18 of the most well-reputed, established, and trustworthy insurance carriers, ranging from national carriers to regional ones. This gives you a broader pool to choose from, something that local agents may not be able to access – and we take the stress out of the search.
The grudge-purchase mentality. Do you have it?
Are you one of those small business owners who see insurance as something that eats into funds that you can use elsewhere? But focusing exclusively on getting the cheapest rates isn’t the smartest strategy. Have you checked the insurance company’s credentials? Here are 3 things to consider:
- Do they have great testimonials on their site?
- Are they financially sound?
- Do they offer top-quality customer services?
Cheap insurance could mean that you’re not completely covered. Gaps in coverage could be disastrous in case of a claim. Certain insurance carriers advertise low rates but fail to tell you that they have a cap on payouts. Others may have high deductibles, and you could end up paying a substantial amount when you file a claim. Poor customer service is one area that shows up in companies that offer the cheapest rates. This is due to high turnover and employee dissatisfaction in the insurance company, which results in a poor work ethic.
Get the right coverage for the right price
Of course, you must compare prices and shop around to get the most competitive rates. Here are 4 steps to take before buying:
- Analyze your business risks.
- Check independent ratings before you shortlist a few insurance companies.
- Check reviews in industry and trade magazines with a focus on service and prompt response.
- Prepare a list of questions. Does the insurance consultant know the answers?
The cheapest General Liability insurance for contractors that can be trusted
Contractors Liability has more than 20 years’ experience in this sector. We are proud to have an A+ rating with the Better Business Bureau. More than that, we’re proud of the reviews we continue to receive from satisfied clients. We’re licensed to operate in all 50 states. We choose our staff for their communication skills in both English and Spanish.
What really sets us apart from others is our commitment to customer satisfaction. We ensure that your business is insured at the lowest rate while getting all the coverage you need. At Contractors Liability, we care about your business. Call Contractors Liability on 866-225-1950 for the right advice and assistance.