G5 Insurance Agency proudly offers contractor insurance in New York, New Jersey, and Pennsylvania. Call 845-842-1226 to learn more or get a quote.
Whether you are a general contractor, a subcontractor, or an independent tradesperson, you are responsible for materials and equipment, as well as for the work you perform in other people’s homes or businesses. Therefore, you need a comprehensive suite of insurance products to protect your investment in your business.
Common Types of Contractor Insurance
There are many different insurance products for contractors. Which types you need depend on the specifics of your business, as well as the level of risk you are comfortable assuming on your own.
- General Liability: General liability insurance protects you against claims for property damage, bodily injury, and other incidents that arise while you are involved in business activities.
- Building Property and Business Personal Property: You can purchase these products individually, together, or bundled with general liability insurance. Building property insurance protects any commercial buildings you own, while business personal property insurance covers your tools, materials, and other equipment.
- Business Auto: If you or your employees drive a company vehicle, be sure to insure it as a business auto. Personal auto insurance may not pay when the vehicle is being operated for business purposes.
- Workers Compensation: Workers compensation insurance pays when an employee is hurt on the job. If you have employees, you must carry this coverage (with certain very limited exceptions).
- Errors and Omissions: Errors and omissions insurance is vital for all contractors, subcontractors, and independent tradespeople. No matter how good you are at your job, you are only human, and the occasional mistake is inevitable. This insurance covers you, your employees, and any subcontractors you hire.
- Umbrella Liability: An umbrella policy provides additional peace of mind. It picks up where other types of liability insurance, such as business auto and general liability, end. It both broadens and increases coverage to offer more protection.
Additional Contractor Insurance
Every business is different, and each contractor has unique needs. Add-on products that you might find useful include, but are not limited to:
- Loss of income (due to a covered loss)
- Data or identity theft
- Completed operations
- Mobile equipment
- Employee theft
- Leased or rented equipment
General contractors, subcontractors, and independent tradespeople have an enormous responsibility. Yet mistakes are part of being human. A comprehensive suite of contractor insurance products is the best way to protect your investment in your company.
Call G5 Insurance Agency at 845-842-1226 to learn more or get a quote.
It is a pleasure doing business with Eric Goldstein. Eric is knowledgeable in all aspects of the insurance industry and he works tirelessly to get us the best possible coverage, while looking to help save us money. Eric would even offer us new types of insurances that we never thought of, upon renewal; like Cyber insurance, to make sure that our company was protected completely as his client.
We have worked with Eric for 10+ years and even being out of state we always felt we were a priority and our insurance needs were handled in a professional manner.
We have used Eric Goldstein for our business insurance needs for the past ten years and just recently moved all of our personal insurance to him as well. During that time he has been professional, very approachable and always knowledgeable about the business, ensuring we get the best rates and products available. He and his staff are extremely easy to work with and always get you what you need in a timely manner.
I have had the pleasure of working with Eric for my vehicle insurance for a few years now, after a nightmare with my last broker, Eric swooped in, took over my account and put my mind at ease. Eric put in time and consideration when looking for a policy that fit my needs and my wallet. I highly recommend Eric, he is not only personable but also very business savvy.
I have worked with Eric for more then a decade. Every interaction is easy, simple and informative. When I have had to file a claim Eric is there to assist and then to follow up directly. Effectively, all of the headaches that accompany buying, needing or filing insurance claims are eliminated because of Eric. I would highly recommend to anyone to utilize his services!
For 7 years we’ve worked with Eric Goldstein for all our insurance needs. Eric is a trusted business consultant for our companies and always leads us in the right direction to protect all our business and personal interests. It’s not very often you can find someone that answers their cell phone 24 hours day/7 days a week. He is always personally there to help with anything that comes about, taking time and patience to walk us through. We can assure you that using this company will be a great decision for your insurance needs.