Insurance For Plano Contractors
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Business Insurance for Contractors in Plano
As a contractor in Plano, Texas, it’s important to have the right insurance coverage in place to protect your business and your clients. Insurance can help mitigate the risks associated with your work and ensure that you have the financial resources to handle any unexpected events that may occur.
In this article, we will provide an overview of the different types of business insurance that contractors in Plano should consider. We will also discuss the importance of working with a trusted insurance provider and outline some of the benefits of our insurance packages for contractors in Plano.
Whether you’re just starting out in the contracting industry or you’re an experienced professional, remember, having the right insurance coverage is essential to the success of your business.
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General Liability Insurance for Contractors in Plano, Texas
General liability insurance is a type of insurance that protects contractors against claims of injury, damage, or loss that may occur on a job site. It covers a wide range of potential risks, including:
- Bodily injury: This covers medical expenses, lost wages, and other costs related to injuries sustained on the job site.
- Property damage: This covers damages to property that may occur as a result of the contractor’s work.
- Personal and advertising injury: This covers injuries that may be inflicted upon another person or business as a result of the contractor’s work, as well as claims of defamation or false advertising.
- Medical payments: This covers the cost of medical treatment for any injuries sustained on the job site, regardless of who is at fault.
Workers’ Compensation Insurance for Contractors in Plano, Texas
Workers’ compensation insurance is a type of insurance that covers medical expenses and lost wages for employees who are injured on the job. It is required by law in many states, including Texas, and covers the following types of injuries:
- Injuries sustained while performing job duties.
- Injuries sustained while on the job site, regardless of fault.
- Occupational diseases that develop over time as a result of working conditions.
Commercial Auto Insurance for Contractors in Plano, Texas
Commercial auto insurance is a type of insurance that covers vehicles used for business purposes. It covers a wide range of potential risks, including:
- Liability: This covers damages or injuries that the insured vehicle may cause to another person or property.
- Physical damage: This covers damages to the insured vehicle itself, such as collision or comprehensive coverage.
- Medical payments: This covers medical expenses for the driver and passengers of the insured vehicle in the event of an accident.
- Uninsured/underinsured motorist coverage: This covers damages or injuries sustained by the insured vehicle as a result of an accident with an uninsured or underinsured driver.
Builder’s Risk Insurance for Contractors in Plano, Texas
Builder’s risk insurance, also known as course of construction insurance, is a type of insurance that protects contractors and developers against damage to a construction project while it is being built. It covers a wide range of potential risks, including:
- Damage to the construction site and materials.
- Damage caused by weather events, such as wind, hail, and lightning.
- Damage caused by theft or vandalism.
- Damage caused by transportation accidents while materials are being delivered to the construction site.
This added layer of insurance does differ from excess liability insurance. Houston Commercial umbrella insurance helps offset the excess financial hit that can come from insurance claims against your employees or your business. Excess liability insurance only extends specific things.
Inland Marine Insurance for Contractors in Plano, Texas
Inland marine insurance is a type of insurance that covers the movement of goods, equipment, and other property within the United States. It is typically used to cover the transportation of goods by land, but it can also cover the movement of goods by air or water. Inland marine insurance covers a wide range of potential risks, including:
- Loss or damage to the insured property while in transit.
- Loss or damage to the insured property while it is being stored.
- Loss or damage to the insured property due to theft or vandalism.
Inland Marine Insurance for Contractors in Plano, Texas
Commercial umbrella insurance is a type of insurance that provides additional liability coverage over and above the limits of an underlying policy. It is typically used to provide extra protection for businesses such as contractors at high risk of being sued. Commercial umbrella insurance covers a wide range of potential risks, including:
- Bodily injury: This covers medical expenses, lost wages, and other costs related to injuries sustained on the job site
- Property damage: This covers damages to property that may occur due to the contractor’s work.
- Personal and advertising injury: This covers injuries that may be inflicted upon another person or business due to the contractor’s work, as well as claims of defamation or false advertising.
ACORD Certificates for Contractors in Plano, Texas
An ACORD certificate is a document that provides proof of insurance for a business. It is issued by an insurance company and lists the types and limits of coverage that the business has in place. The ACORD certificate is commonly used to provide evidence of insurance to clients, landlords, and other parties that may require it. It typically includes information about the following types of coverage:
- Liability insurance:This covers damages or injuries that the insured business may cause to another person or property.
- Property insurance:This covers damages to the insured business’s property, such as buildings and equipment.
- Business interruption insurance:This covers lost income and expenses incurred as a result of a covered event, such as a natural disaster, that disrupts the business’s operations.
Business Insurance for Contractors in Plano, Texas
It’s important for contractors in Plano, Texas to have the right insurance coverage to protect their business and their clients. At our firm, we understand the unique risks and challenges that contractors face, and we have carefully designed insurance packages to meet the needs of Plano businesses.
Our team of experienced insurance professionals will work with you to understand your business and identify the coverage that is right for you. We offer a range of insurance options, including those mentioned above.
Contact us today at (866) 225-1950 to learn more about our insurance packages for contractors in Plano, Texas. We will work with you to ensure that you have the coverage you need to protect your business and your clients.
Your Plano Contractors Insurance Questions Answered
Get answers to your most common questions from Contractors Liability
For General Liability Insurance in Plano 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 Texas are $1,000,000/$2,000,000.
For Commercial Auto Insurance in Plano 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 Plano vehicle you need to have Comprehensive and collision coverage. Commercial Auto Collision Insurance in Plano, TX covers any collision and Comprehensive Commercial Auto Insurance covers anything but collision.
For Workers Compensation Insurance in Plano 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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