General Contractor Insurance in Louisiana
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Do general contractors need insurance in Louisiana?
The Pelican State is a major construction state. It employs more than 41,816 individuals, including those who are licensed as contractors. Louisiana contractor insurance helps protect these small businesses.
Construction sites can often be dangerous locations to work in. A simple accident could create costly liability issues for small-scale businesses, whether you work on commercial or residential projects. Contractor insurance in Louisiana protects your business from accidents, delays or other issues.
Contractor insurance is a shorthand term for various kinds of insurance that general contractors might consider, such as:
- General Liability insurance
- Business Owner’s Policy
- Workers’ Compensation insurance
BizInsure can arrange insurance for contractors in Louisiana.
Who may need contractors insurance in Louisiana?
A lot of contractors purchase insurance policies to help protect their business and personal finances. General Liability insurance and other insurance policies are a vital security net for your company.
Certain clients may require certain types of coverage (this is usually stipulated in contract). Workers’ Compensation insurance is mandatory in Louisiana for all businesses that have at least one employee.
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What are the most common contractor insurance policies in Louisiana?
Louisiana tradespeople are usually interested in different types of contractor insurance. These policies will help you reduce the risks that contractors may face.
General Liability insurance
Also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, this insurance can protect your business against bodily injury or property damage lawsuits from outside parties.
Business Owner’s Policy
A Business Owner’s Policy (BOP) is a convenient package of insurance that protects your business against the common risks it faces every day. The BOP product includes various coverages that may suit the unique requirements of your small business. Insurance included in a BOP can vary but usually they include protection for typical small business risks such as property damage, business interruption and liability.
Workers’ Compensation insurance
Workers’ Compensation insurance protects your company and its employees. If any of your employees get injured at work or are ill, this type of insurance will cover their medical bills. It will also cover some of their lost income if they’re unable to work because of the injury, as well as rehabilitation or physical therapy to transition the employee back into the workplace.
In Louisiana, every employer must carry Workers’ Compensation insurance by law regardless of full-time or part-time workers including seasonal, minor or seasonals staffs.
Contractors who work in the home improvement, mold removal and residential construction industries must provide proof of their Louisiana Workers’ Compensation insurance to comply with Louisiana law.
What does contractors insurance cover in Louisiana?
Contractors’ insurance can protect you and your business from a variety of risks. You may be covered by your insurance policy for:
- Claim for property damage and injury to third party
- Unexpected disruptions to business
- Equipment breakdown
- Injuries and illnesses of employees at work
How much does contractor insurance cost in Louisiana?
The cost of business insurance are different because insurers have to consider a variety of factors. Your business’s insurance cost may be influenced by
- The kind of insurance coverage you might need
- Your annual income (size of your business)
- How many individuals will be covered by the policy
- Your claim your history
- Which coverage should you choose
How to get the right insurance for contractors in Louisiana?
BizInsure makes it easy to protect the contracting company you work for.
You can get multiple estimates in less than 10 minutes and select the most suitable coverage for your budget and needs. The policy document is sent directly to your mailbox.
Do you need assistance? We are always happy to help!
Compare multiple policies for Louisiana general contractors now to get the most suitable coverage for your budget.
Learn more about insurance for general contractors in the states where you work.
As with any insurance, coverage will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this guide is general only and should not be relied upon as advice. The number of quotes provided varies between products, occupations and other underwriting factors determined by the insurers.
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