Contractors Insurance in Pennsylvania

Do Pennsylvania general contractors need insurance?

On of the largest sectors in The Keystone State is construction. It is estimated that more than 95 000 sole entrepreneurs work in this industry, many of whom are general contractors.

Construction sites can be hazardous locations to work in. A simple incident could result in a large liability for your small business regardless of whether you’re working on residential or commercial construction projects. Contractor insurance is considered essential for many Pennsylvania businesses to protect their hard work from accidents delay, accidents and other issues that are common.

Contractor insurance is a variety of types coverage that a General Contractor may take into consideration.

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

Learn more about Pennsylvania contractor’s insurance and learn how you can find top-rated policies for your company with BizInsure.

What are the common insurance policies for Pennsylvania contractors?

Pennsylvania tradespeople are usually looking for different kinds of insurance for contractors. These policies can help you manage the common risks faced by general contractors on the job.

General Liability Insurance

Construction sites are an area where anything could occur. An act that seems innocent, such as leaving your toolbox at the wrong location, could cause a major headache for your company if you injure someone.

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.

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

Business Owner’s Policy

There are times when things don’t go according as planned when working in the construction field. It is possible that you won’t be able to complete your work in time if there are interruptions in the work, or if tools break.

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.

BOPs can be tailored to meet the requirements of your business. It can be a practical and cost-effective way to protect yourself from the many risks that general contractors face.

Workers’ Compensation Insurance

If you depend on employees to run your company, it’s your responsibility to ensure their health and wellbeing while 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.

Pennsylvania requires most businesses that have at least one employee, regardless of part-time or full-time status, to obtain Workers’ Comp insurance.