Contractors Insurance in Pittsburgh, PA

Contractors insurance plays a vital role in the construction industry, offering critical protection against various risks that may occur throughout a project’s lifecycle. Understanding and securing appropriate coverage is essential to help ensure the financial stability of a contractor’s operations.

Do I Need Contractors Insurance?

Contractors typically need insurance to help financially protect themselves, their operations and their employees. Insurance can help pay for costs associated with accidents, injuries, property damage or legal disputes. Insurance can also benefit a contractor’s reputation and fulfill client requirements. Many clients will require proof of insurance before working with a contractor.

What Does Contractors Insurance Cover?

While the exact capabilities and limitations of a contractors insurance portfolio may vary, policies can typically help in the event of the following situations:

• Third-party property damage—This may include coverage for damage to the surrounding property during the project.

• Third-party bodily injuries—This may include coverage or injuries that are a direct result of a contractor’s products or services.

• Employee injury—This may include financial and medical support if an employee suffers work-related injuries or illnesses.

• Equipment damage—This may include covering the repair or replacement costs of insured machinery and equipment following damage or loss due to covered perils.

• Damage to buildings, structures or supplies under construction—This may include the cost of physical loss or damage to covered property, as well as materials and supplies that are on-site, transported or stored off-site.

What Insurance Should Contractors Have?

Contractors may want to consider the following coverage options:

• General liability insurance

• Property insurance

• Equipment floater insurance

• Builders risk coverage

• Professional liability insurance

• Workers’ compensation insurance

Working with a qualified insurance provider who can tailor a policy to your specific operations is essential. Each contractor will have different potential risks that specific types of coverage can help mitigate.

Learn More

Contact Neofes Insurance Group LLC today to discuss your insurance portfolio.