General Contractor Insurance in Alabama
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Do Alabama general contractors need insurance?
Construction sites can be hazardous places to work. A simple accident can create an expensive liability problem for small businesses. Contractor insurance for Alabama businesses helps prevent mishaps and delays that are unexpected, as well as other common issues from destroying the hard work you’ve put into it.
Contractor insurance can be used to refer to the different types of insurance that general contractors may select, such as:
- General Liability
- Business Owner’s Policy
- Workers’ Compensation
Learn how BizInsure can help you find A-rated contractor insurance for your Alabama company.
Who needs general contractor insurance in Alabama?
Many contractors buy insurance to protect both their business and finances. General Liability insurance and other types of insurance for contractors can provide a safety net that is vital for your company.
Certain types of insurance may be required for certain clients (and this is usually stipulated in contracts for business). Workers’ Compensation insurance in Alabama is required for every business with one or more employees.
Choose your profession below to find out more about your options for insurance and get a personalized insurance quote.
What insurance policies do contractors in Alabama typically consider?
Alabama tradespeople are often looking for different kinds of contractor insurance. These policies may help you to manage common risks general contractors encounter while working.
General Liability Insurance
A construction site is a place where anything could happen. A seemingly innocent act like placing your toolbox in the wrong location, could result in a huge problem for your business when you cause injury to someone.
General Liability is a kind of insurance that shields your against bodily injury lawsuits as well as property damage lawsuits.
Your General Liability policy can protect you against any claim by an outside party regarding injury or damage to their property. In these instances, your policy will cover your legal expenses as well as your cost to replace or remedy the situation up to the limits of liability.
Business Owner’s Policy
When you are working in the construction industry, things don’t always run smoothly. It can be difficult to keep your commitments when dealing with project interruptions, broken equipment, and other issues.
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.
BOPs can be customized to provide options for coverage that meet the specific needs of your business. It can be an easy and affordable way of protecting your business from the most common dangers that contractors face.
Workers’ Compensation Insurance
If your business relies on your employees, it is vital to make sure they are safe and healthy when they are at work.
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.
Alabama contractors typically need Workers’ Compensation insurance before hiring their first employee.
What is covered by contractor insurance in Alabama?
Contractor insurance can protect your business and you from a wide range of risk. Depending on which coverage types you select, you may be covered for such events as:
- Property damage and third-party injury claims (General Liability)
- Unexpected interruptions of business (Business Owner’s Policy).
- Equipment breakdown (Business Owner’s Policy)
- Injuries and illnesses at work (Workers’ Compensation).
How much does contractor insurance cost in Alabama?
It is possible that you don’t be aware of the amount Alabama contractor insurance costs when you’re just starting out.
Business insurance prices vary because insurers take many factors into consideration when determining each company’s premium. The cost of your business’ insurance could be affected by:
- Choose the right kind of insurance
- The size of your business (annual revenue).
- What is the number of people covered by this policy?
- Your claims are based on your past
- You can choose the amount of coverage you want to purchase
Save time and money with BizInsure
BizInsure can help you protect your contractor business.
You can get multiple quotes in just 10 minutes, and choose coverage for your budget and needs. You will receive your policy documents immediately in your email.
Do you need help choosing policies? We’re here to assist you!
Compare quotes to determine the most suitable insurance plan for your Alabama general contractor’s business.
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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