Pennsylvania Contractors Insurance
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From Pennsylvania Workers’ Compensation Insurance to General Liability, Commercial Auto Insurance More We Are Your Easy & Stress-Free Construction Insurance Provider in Penn State!
Business Insurance for Contractors in Pennsylvania
All Pennsylvania contractors need at least one type of insurance and, in some cases, multiple. The reason is simple:
Roofers, carpenters, builders, and all sub-contractors in Pennsylvania are not immune to liability, and nothing cripples a business like unwanted expenses. Suppose your insurance doesn’t cover an accident or, worse, the expense of injury compensation exceeds your policy limits or isn’t covered. You may face devastating out-of-pocket costs.
To help you stay bullet-proof, we have prepared this guide discussing seven primary insurance you’d need as a contractor in Pennsylvania.
Pennsylvania Contractors General Liability Insurance
Businesses of all stripes need General Liability since they all deal with 3rd parties. However, the construction industry is among those that would benefit most from such protection. After all, there is probably timber, nails, and machinery strewn around your workstation, increasing the danger of injury to your guests.
Thankfully, general liability covers the cost of medical care for anyone hurt on your property. This provision of your Pennsylvania contractor insurance policy covers damages to visitors’ vehicles, mobile phones, or other belongings.
Our industry-leading general liability offering saves time and money for general contractors in Pennsylvania.
You can start a free online application or call us to check the best options for your company. Our insurance representatives are Pennsylvania licensed and can answer any inquiries about coverage.
To make things smoother, prepare the following information to expedite the application:
Details about the workforce include the number and types of employees,
Current and expected revenue,
Prior claims and insurance history, and
Insurance requirements for commercial leases.
Pennsylvania Workers' Compensation Insurance
Employers liability insurance is mandatory in Pennsylvania for any construction company with more than two employees.
This insurance is designed to cover the costs of treating construction employees who are injured or become ill on the job. It will cover their medical bills and time off work while they heal and your legal bills if an employee sues you for workplace injuries.
Who doesn’t need to get workers’ comp insurance?
Suppose all of a company’s employees fit the definition of an exempt group, such as railroad workers, longshoremen, government employees, or domestic workers. In that case, the firm is excused from carrying workers’ compensation insurance in Pennsylvania.
The Bureau of Workers’ Compensation, a division of the Pennsylvania Department of Labor and Industry, is responsible for administering the state’s workers’ compensation system and must receive any paperwork requesting an exemption.
Do part-time workers in Pennsylvania have to carry workers’ comp?
Injured employees in Pennsylvania are entitled to workers’ compensation payments regardless of whether they are employed full-time, part-time, or temporarily.
Pennsylvania Commercial Auto Insurance
As many construction workers spend their days commuting between the office and other job sites, many employees in the industry spend a lot of time behind the wheel. In that case, it’s essential to be sure your policy covers business vehicles.
This is crucial since, in most cases, the private auto insurance coverage will not pay for damages incurred in an accident caused by a work trip. Therefore, all company vehicles must be covered by business auto insurance.
All commercial vehicle plans must comply with Pennsylvania state law, which mandates a minimum liability limit of $15,000 per person, $30,000 per accident for bodily injury, and $5,000 for property damage (15/30/5). Specific plans are obliged to have more significant limits based on the kinds of cars they cover.
The state furthermore mandates medical payments insurance to assist policyholders with paying for medical costs resulting from an accident involving their commercial vehicle
Pennsylvania Builder's Risk Insurance
Pennsylvania Builder’s risk insurance is a policy that covers structures while they are being built. It preserves the contractor’s interest in materials on the construction site, items in transit, and the value of the property being constructed until it is finished and recognized by the owner. The insurance might be drafted to cover the entire structure for new construction, or it could cover the cost of rehabilitation and renovation work. It may also cover projects like a new room extension, a deck, or a bathroom makeover.
Builder’s risk insurance is typically in the name of the contractor or property developer. Still, it may also be in the property owner’s name if he is responsible for insuring the property while it is being built. A builder’s risk insurance coverage may cover commercial and residential building sites.
There are also other built-in plans for the unique demands of a given construction project, whether commercial or residential. Before providing insurance coverage for commercial properties, insurance firms frequently seek a particular amount of experience from the builder. Typically, 2-3 years of commercial building experience is required.
Pennsylvania Inland Marine Insurance
Pennsylvania Inland Marine insurance was initially designed to protect products moved by water. This coverage is now available for commercial or personal property and covers objects on land.
Commercial Inland Marine Floater, as it is commonly known, provides greater protection for your moveable or transportable items than standard property insurance. This low-cost insurance covers the tools, equipment, products, and objects you move for your business, regardless of where they go or are located. You’ll be covered for damages resulting from accidents, theft, vandalism, or total loss. These policies are often issued on an all-risk basis rather than for specific risks.
Personal Inland Marine plans in Pennsylvania can augment homeowner’s insurance to protect jewels, furs, fine arts, cameras, musical instruments, collections, sports equipment, or computers. Items insured are often of moderate value and portable.
Pennsylvania Commercial Umbrella Insurance / COI
Umbrella insurance plans are beneficial for people and should therefore be required for businesses. If a company suffers a catastrophic liability loss, having an umbrella insurance policy in place may determine whether or not the company will be able to continue operations.
Today’s business owners must factor in the ever-increasing litigation expenses and verdicts. If your company suffers catastrophic liability losses, a commercial umbrella policy will protect your assets. Your company is too valuable for all your hard work to be lost due to a single calamity.
The liability limitations provided by a Pennsylvania Commercial Umbrella Policy are in addition to those offered by any underlying policies. Sometimes, it even adds to your safety.
We strongly suggest incorporating this coverage into your company insurance plan because of the unpredictable.
Pennsylvania ACORD Certificates
An ACORD certificate of liability insurance (also called an ACORD 25 form and a certificate) shows contracting parties that you have business liability insurance.
You can show this certificate to clients, suppliers, and other partners to demonstrate that your company is adequately covered against everyday hazards.
Your insurance company may provide you with a declaration page as a matter of good faith. This document summarizes the essentials of your policy or policies, including the types of coverage, policy numbers, policy limit (including per-occurrence and aggregate limits), effective date, the policy period, and expiration date.
The insurance company’s phone number, certificate number, contact person, postal address, and fax number may also be included, as well as any applicable policy terms, exclusions, and restrictions.
Business Insurance for Contractors in Pennsylvania
Working as a contractor in the home of America’s hardest-working, most challenging, and decent people demands adequate insurance to cover you against certain financial dangers. Failure to keep these insurance policies active and functional might expose you and your company to enormous potential financial loss.
Furthermore, there may be state and county fines and penalties if caught running a contractor firm with less than the legally needed insurance minimums. This might result in not simply penalties but perhaps criminal proceedings against individuals running the firm.
We’ve supplied affordable contractor insurance to Pennsylvania construction firms for years, no matter the type of insurance or assets to be protected.
Please feel free to contact us today for the best custom quote.
Your Pennsylvania Contractors Insurance Questions Answered
Get answers to your most common questions from Contractors Liability
For General Liability Insurance in Pennsylvania, 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 Pennsylvania are $1,000,000/$2,000,000.
For Commercial Auto Insurance in Pennsylvania, 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 Pennsylvania vehicle, you need to have Comprehensive collision coverage. Commercial Auto Collision Insurance in Pennsylvania covers any collision, and Comprehensive Commercial Auto Insurance covers anything but collision.
For Worker’s Compensation Insurance in Pennsylvania, you need $500,000/$500,000/$500,000. This covers your workers in a claim where the owner is liable for up to $500,000. In 99% of cases, the owner is not liable, and coverage for workers’ compensation is unlimited.