General Contractor Insurance in Idaho

Do general contractors need insurance in Idaho?

The Gem State has a thriving construction industry. There are 16,557 sole traders working in the industry, many of whom are general contractors.

Construction sites are often dangerous locations to work in. A simple accident could create an expensive liability issue for your small businesses, regardless of whether you are working on commercial or residential projects. Contractor insurance can protect your Idaho company from accidents and delays.

Contractor insurance is shorthand for various kinds of insurance that a general contractor may be considering, including:

• General Liability
• Business Owner’s Policy
• Workers’ Compensation

Learn how BizInsure can help you find the right contractor insurance for your Idaho business.

What are common insurance policies for Idaho contractors?

Idaho tradespeople are usually interested in different types of contractor insurance. These policies might aid in reducing the typical risks that general contractors have to face.

General Liability insurance

At the construction site, anything can occur. Your business could suffer from an innocent action, like leaving your equipment in the wrong spot.

A 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.

General Liability insurance may also be called “slip and fall” coverage or Commercial General Liability (CGL) insurance.

Business Owner’s Policy

Construction workers are aware that things do not always work out as planned. You may not be able to finish your work on time if you have interruptions to your work or if your tools fail.

A Business Owner’s Policy (BOP) is a convenient and affordable way for small business owners to protect against several of their most common exposures. These policies combine General Liability insurance with other types of coverage, such as business interruption and business property damage. You can customize your BOP to include coverage options that are tailored to your company’s needs. This can be a convenient and affordable way to shield yourself against many common dangers that general contractors are exposed to.

Workers’ Compensation insurance

If you depend on employees to manage your business, it is your responsibility to look after their health and well-being while they are at work.

Workers’ Compensation insurance protects you against medical expenses and lawsuits that can arise from employee workplace injuries and illnesses. It could also pay lost wages as a result of the work injuries that an employee sustains.

In Idaho, most businesses with one or more full-time, part-time, seasonal, or occasional employees are required to carry a Workers’ Compensation policy unless specifically exempt from the law. Workers’ Compensation is required to be in place before the first employee is hired.