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Louisiana Contractor Insurance

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Business Insurance for Contractors in Louisiana

As a contractor in Louisiana, it is important to have the right insurance coverage in place to protect your business and your employees. In this article, we will provide an overview of some of the key types of insurance that contractors in Louisiana should consider, including Louisiana contractors general liability insurance, Louisiana workers’ compensation insurance, Louisiana commercial auto insurance, Louisiana builders risk insurance, Louisiana inland marine insurance, Louisiana commercial umbrella insurance, and Louisiana ACORD certificates.

Louisiana General Liability Insurance

General liability insurance is a type of insurance that protects contractors against claims of bodily injury, property damage, and personal and advertising injury that may arise from their business operations. It is important for contractors to have this type of insurance because it can cover the costs of legal defense and damages if a lawsuit is filed against the business.

In Louisiana, contractors are required to carry general liability insurance with limits of at least $500,000 per occurrence and $1,000,000 in the aggregate. This means that the insurance will cover up to $500,000 for a single incident, and up to a total of $1,000,000 for all incidents that occur during the policy period.

There are several types of incidents that may be covered under a contractors general liability insurance policy in Louisiana, including:

  • Bodily injury: If a person is injured on the job site or as a result of the contractor’s work, the insurance policy may cover the costs of medical treatment and other damages.
  • Property damage: If the contractor’s work damages someone else’s property, the insurance policy may cover the costs of repair or replacement.
  • Personal and advertising injury: This type of coverage may protect the contractor against claims of defamation, invasion of privacy, or other personal injury that arises from their advertising or business practices.

It is important for contractors to carefully review their insurance policies to understand what is and is not covered, and to make sure that they have adequate coverage for their specific business needs.

Louisiana Workers’ Compensation Insurance

Workers’ compensation insurance is a type of insurance that covers medical treatment and lost wages for employees who are injured on the job. It is required by law in Louisiana, and employers are required to carry coverage for their employees.

In Louisiana, workers’ compensation insurance covers medical treatment, rehabilitation, and other related expenses for employees who are injured on the job. It also provides financial support to employees who are unable to work due to their injuries, in the form of temporary disability payments or permanent disability payments.

Employers are required to report workplace injuries to their workers’ compensation insurance carrier within 24 hours of the incident. Employees who are injured on the job should also report the injury to their employer as soon as possible in order to ensure that they are eligible for benefits.

It is important for contractors in Louisiana to understand their obligations under the state’s workers’ compensation laws and to make sure that they have adequate coverage for their employees. Failing to carry the required insurance can result in fines and other penalties.

Louisiana Commercial Auto Insurance

Commercial auto insurance is a type of insurance that covers vehicles used for business purposes. This can include cars, trucks, vans, and other types of vehicles that are used to transport goods or people, or to perform services.

In Louisiana, commercial auto insurance is required for any vehicle that is used for business purposes. This includes vehicles that are owned by the business, as well as vehicles that are leased or rented for business use.

Commercial auto insurance policies typically provide coverage for damages to the vehicle, as well as for injuries or property damage that may occur as a result of a car accident. Some policies may also include coverage for theft, vandalism, and other types of losses.

It is important for contractors in Louisiana to carefully review their commercial auto insurance policies to understand what is and is not covered, and to make sure that they have adequate coverage for their specific business needs.

Louisiana Builder’s Risk Insurance

Builders risk insurance is a type of insurance that covers damage to a construction project while it is being built. This can include damage caused by natural disasters, theft, vandalism, and other types of losses.

In Louisiana, builders risk insurance is typically required by lenders and other financial institutions when a construction project is being financed. It is also often required by contractors and developers as a condition of the construction contract.

Builders risk insurance policies typically provide coverage for the cost of repairing or rebuilding the construction project, as well as for any lost income or profits that may result from the delay or interruption of the project.

It is important for contractors in Louisiana to carefully review their builders risk insurance policies to understand what is and is not covered, and to make sure that they have adequate coverage for their specific construction projects.

Louisiana Inland Marine Insurance

Inland marine insurance is a type of insurance that covers movable property, such as equipment and tools, while it is being transported or used on a job site. This can include items such as cranes, bulldozers, generators, and other types of heavy equipment, as well as smaller tools and other types of property.

In Louisiana, inland marine insurance is often used by contractors and other businesses to protect their equipment and tools from loss or damage while they are being transported or used on the job. It can also provide coverage for the cost of repairing or replacing the property if it is damaged or destroyed.

Inland marine insurance policies typically provide coverage for damages caused by events such as theft, fire, and natural disasters, as well as for accidental damages. Some policies may also include coverage for lost income or profits that may result from the delay or interruption of a project due to the loss or damage of equipment.

It is important for contractors in Louisiana to carefully review their inland marine insurance policies to understand what is and is not covered, and to make sure that they have adequate coverage for their specific business needs.

Louisiana Commercial Umbrella Insurance / COI

Commercial umbrella insurance is a type of insurance that provides additional liability coverage beyond the limits of other insurance policies. It is often used to protect businesses against large or unexpected claims that may exceed the limits of their other liability insurance policies.

In Louisiana, commercial umbrella insurance is often used by contractors and other businesses to provide additional protection against claims of bodily injury, property damage, and other types of liability. It can provide coverage for damages that may not be covered by other insurance policies, such as claims arising from the use of social media or other forms of online advertising.

Commercial umbrella insurance policies typically have limits of coverage that are higher than those of other insurance policies, and may provide coverage for claims that are not covered by other policies. It is important for contractors in Louisiana to carefully review their umbrella insurance policies to understand what is and is not covered, and to make sure that they have adequate coverage for their specific business needs.

Louisiana ACORD Certificates

An ACORD certificate is a document that provides proof of insurance coverage for a business or individual. It is issued by an insurance carrier and specifies the types and limits of coverage that are provided under an insurance policy.

In Louisiana, contractors and other businesses may be required to provide ACORD certificates as proof of insurance coverage in order to bid on contracts or to meet the requirements of clients or business partners. ACORD certificates are commonly used in the construction industry, as well as in other industries where proof of insurance is required.

ACORD certificates typically include the name and contact information of the insurance carrier, the policy number, the effective and expiration dates of the policy, and the types and limits of coverage provided. It is important for contractors in Louisiana to ensure that their ACORD certificates are up-to-date and accurately reflect their insurance coverage.

Business Insurance for Contractors in Louisiana

It is essential for contractors in Louisiana to have the right insurance coverage in place to protect their business and employees from potential risks and liabilities. To carefully reviewing your insurance policies and ensuring that you have the necessary coverage, you need to work with us to to safeguard your business and protect your financial interests.

Your Louisiana Contractors Insurance Questions Answered

Get answers to your most common questions from Contractors Liability

For General Liability Insurance in Louisiana you need $1,000,000 per occurrence and $2,000,000 aggregate almost 100% of the time. 99% of all General Liability policies we sell in Louisiana are $1,000,000/$2,000,000.

For Commercial Auto Insurance in Louisiana you need $1,000,000 CSL meaning $1,000,000 Combined Single Limit for Bodily Injury and Property Damage to the other party combined. To protect your Louisiana vehicle you need to have Comprehensive and collision coverage. Commercial Auto Collision Insurance in Louisiana covers any collision and Comprehensive Commercial Auto Insurance covers anything but collision.

For Workers Compensation Insurance in Louisiana you need $500,000/$500,000/$500,000 in general. This covers your workers in the event of a claim where the owner is liable up to $500,000. In 99% of cases the owner is not liable and coverage for workers compensation is unlimited.

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