General Contractor Insurance in Kentucky

Do general contractors need insurance in Kentucky?

The Bluegrass State’s largest industry is construction. The industry employs just over 41,360 individuals, including many who are licensed as contractors. Kentucky contractors are eligible for contractor insurance.

Construction sites are often hazardous locations to work in. Small-sized businesses are susceptible to expensive liabilities if they are involved in residential or business projects. Contractor insurance is important for Kentucky companies to safeguard their hard-earned work from injuries, delays, and other common problems.

Contractor insurance is a shorthand term for different types of coverage a general contractor could consider.

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

Find out more about Kentucky contractor’s insurance and learn how you can find the most suitable policy for your company through BizInsure.

What are the common insurance policies for contractors in Kentucky?

Kentucky tradespeople are aware of several kinds of insurance for contractors. These insurance policies will help you deal with the common risks faced by general contractors on the job.

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.

Businesses in Kentucky must carry Workers’ Compensation coverage if they have one or more workers regardless of part-time, temporary workers or family members.