Contractors Insurance in West Virginia

Why do general contractors need insurance in West Virginia?

The Mountain State is a major construction state. In the construction sector, there over 9,197 sole traders, with many working as general contractors.

Construction sites can be dangerous locations to work in. An accident can lead to an expensive liability issue for small-scale businesses, regardless of whether you are working on residential or commercial projects. Insurance for contractors is essential for West Virginia businesses to protect their hard-earned work from injuries, delay, accidents and other issues that are common.

Contractor insurance refers to different kinds of insurance that a General Contractor may take into consideration.

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

BizInsure can arrange suitable insurance for contractors in West Virginia.

What are the common insurance for contractors in West Virginia?

West Virginia tradespeople are aware of several kinds of contractor’s insurance. These insurance policies will help you deal with the common risks faced by general contractors on the job.

General Liability Coverage

Anything can occur at a construction site. Even a simple error, such as placing your toolbox on the wrong side of the road, could cause your business to suffer when someone is injured.

Also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, General Liability insurance can protect your business against bodily injury or property damage lawsuits from outside parties.  Policies typically pay to remedy the issue (up to the policy limits) through the payment of medical bills, repairs, or replacement expenses.

You may also find General Liability insurance called Commercial General Liability (CGL) or the less formal “slip and fall” coverage.

Business Owner’s Policy

If you’re in the construction business, things don’t always run smoothly. Incomplete projects, damaged tools, and other hiccups can make it difficult to finish your job as stated.

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.

Your BOP can be tailored to include coverage options that fit the needs of your business. This is a cost-effective and efficient way to shield yourself from the common risks faced by general contractors.

Workers’ Compensation Insurance

If you rely on employees to run your business, it is your responsibility to ensure their health and well-being when they’re at work.

Workers’ Compensation insurance provides protection for employers if an employee suffers a work-related illness or injury. The insurance typically pays for the medical expenses of your employees and lost earnings, in the event that they are unable to resume work due to injuries.

In West Virginia, most employers are required to obtain Workers’ Comp insurance with limited exceptions.