New Hampshire Contractor Insurance
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Business Insurance for Contractors in New Hampshire
As a contractor in New Hampshire, it is important to protect your business and your employees with the right insurance coverage. Contractor insurance, also known as construction insurance, can help cover the costs of accidents, injuries, and damages that may occur on the job. In this article, we will discuss the types of insurance that contractors in New Hampshire should consider, as well as some of the benefits related to contractor insurance in the state.
New Hampshire Contractors General Liability Insurance
New Hampshire contractors general liability insurance is a type of insurance that protects contractors from financial losses resulting from claims of third-party bodily injury, property damage, and personal and advertising injury. This type of insurance is essential for contractors in New Hampshire, as it covers the cost of legal defense and any settlement or judgment awarded to the claimant.
Examples of situations where contractors general liability insurance may be necessary include:
- A client trips and falls on a construction site, resulting in injury
- A subcontractor working on a construction project damages a neighbor’s property
- A client sues a contractor for failing to complete a project on time or up to standard
It is important for contractors in New Hampshire to have adequate general liability insurance coverage, as the cost of legal defense and settlements can be financially devastating for a business.
New Hampshire Workers’ Compensation Insurance
New Hampshire workers’ compensation insurance is a type of insurance that provides financial benefits to employees who are injured on the job. This insurance covers medical expenses, lost wages, and rehabilitation costs for employees who are injured while performing their job duties.
In New Hampshire, all employers with one or more employees are required to carry workers’ compensation insurance. This includes contractors, who may have employees or subcontractors working on their projects.
If an employee is injured on the job, they can file a claim with their employer’s workers’ compensation insurance policy. The insurance company will then cover the cost of the employee’s medical treatment and any lost wages resulting from the injury.
Workers’ compensation insurance is an important protection for both employees and employers in New Hampshire. It ensures that employees have access to necessary medical care and financial support in the event of a job-related injury, and it protects employers from potential lawsuits resulting from employee injuries.
New Hampshire Commercial Auto Insurance
New Hampshire commercial auto insurance is a type of insurance that covers vehicles used for business purposes. This includes vehicles owned by contractors and used in the course of their work, such as pick-up trucks, vans, and construction equipment.
Commercial auto insurance typically provides broader coverage than personal auto insurance, as it is designed to protect businesses from financial losses resulting from vehicle accidents. It may include coverage for:
- Physical damage to the vehicle
- Liability for injuries or damage caused to others in an accident
- Medical expenses for the driver and passengers
- Loss of income due to the inability to use the vehicle
It is important for contractors in New Hampshire to have commercial auto insurance to protect their vehicles and ensure that they are able to continue working if an accident occurs.
New Hampshire Builder’s Risk Insurance
New Hampshire builders risk insurance is a type of insurance that covers the cost of damages to a construction project during the building process. This includes damage caused by weather, theft, fire, and other perils. Builders risk insurance is typically purchased by the owner of the construction project, but it can also be purchased by contractors working on the project. It is important for contractors in New Hampshire to consider builders risk insurance, as it can help protect against financial losses resulting from damages to the project.
New Hampshire Inland Marine Insurance
New Hampshire inland marine insurance is a type of insurance that covers the transportation of goods and equipment over land. This may include coverage for:
- Equipment used in the course of a contractor’s work, such as tools and machinery
- Goods in transit, such as construction materials
- Installation floaters, which cover the cost of installing equipment or machinery
Inland marine insurance is an important protection for contractors in New Hampshire, as it can help cover the cost of damages or losses to equipment and goods during transportation. It is particularly important for contractors who transport their equipment and materials to various job sites, as it can help protect against financial losses resulting from accidents or other perils.
New Hampshire Commercial Umbrella Insurance / COI
New Hampshire commercial umbrella insurance is a type of insurance that provides additional liability coverage above and beyond the limits of an existing liability policy. This may include coverage for:
- Bodily injury and property damage
- Personal and advertising injury
- Defense costs
Commercial umbrella insurance is often purchased by contractors in New Hampshire as a way to protect against the high costs of settlements and judgments that may result from liability claims. It is particularly useful for contractors who work in high-risk industries or who have a high potential for liability.
New Hampshire ACORD Certificates
ACORD certificates are forms that provide proof of insurance for contractors in New Hampshire. These certificates provide information about the types and limits of coverage a contractor has, as well as the policy period and the name of the insurer.
ACORD certificates are often required by clients or other parties with whom a contractor is doing business, as they provide assurance that the contractor has the necessary insurance coverage in place.
Business Insurance for Contractors in New Hampshire
Business insurance is an important protection for contractors in New Hampshire, as it can help protect against financial losses resulting from accidents, injuries, and other unforeseen events. Some of the key types of insurance that contractors in New Hampshire should consider include contractors general liability insurance, workers’ compensation insurance, commercial auto insurance, builders risk insurance, inland marine insurance, and commercial umbrella insurance.
It is important for contractors in New Hampshire to work with a trusted insurance provider like us to ensure that they have the right coverage in place for their business. We are a reputable insurance provider that can help contractors understand their insurance needs and find the best rates and coverage options to meet their specific needs.
Your New Hampshire Contractors Insurance Questions Answered
Get answers to your most common questions from Contractors Liability
For General Liability Insurance in New Hampshire 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 New Hampshire are $1,000,000/$2,000,000.
For Commercial Auto Insurance in New Hampshire 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 New Hampshire vehicle you need to have Comprehensive and collision coverage. Commercial Auto Collision Insurance in New Hampshire covers any collision and Comprehensive Commercial Auto Insurance covers anything but collision.
For Workers Compensation Insurance in New Hampshire 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.