General Contractor Insurance in Wyoming

Why do Wyoming general contractors need insurance?

The Equality State has a flourishing construction industry. It is estimated that around 5,100 sole proprietors are employed in the industry statewide.

Construction sites can be dangerous places to work. An accident can lead to an expensive liability issue for your small businesses, regardless of whether you are working on residential or commercial projects. Insurance for contractors for Wyoming companies helps to prevent accidents, unexpected delays, or other common issues from destroying the hard work you’ve put into it.

Contractor insurance is the abbreviated name for the different policies that a contractor might consider.

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

Learn about contractor insurance in Wyoming and how BizInsure can assist you to find coverage for your business requirements.

What insurance do contractors need in Wyoming?

Wyoming tradespeople consider several types of contractor’s insurance. These insurance policies can help you mitigate the common risks that general contractors have to face.

General Liability insurance

A construction site is a place where anything can occur. Even an innocent mistake, like placing your toolbox in the wrong place, can result in your company suffering when someone is injured.

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.

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

Business Owner’s Policy

Construction workers are aware that sometimes things don’t go according to plan. It can be challenging to keep your commitments when facing interruptions to projects or equipment that is damaged, among other problems.

Business Owner’s Policy (BOP) is a combination of policies, combining covers such as General Liability insurance and business personal property coverage, to help protect small businesses from costly interruptions to service.

BOP can be customized to provide coverage options that meet your business needs. This can be an affordable and a convenient method for general contractors to safeguard themselves from typical risks.

Workers’ Compensation Insurance

It is your responsibility to ensure that your employees are well-being and content at work if you depend on them to manage your business.

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.