We are members of:
Property and Liability coverages available on a monoline or
package basis for commercial and residential general contractors with administrative or managerial responsibility for new construction or
remodeling projects and who exercise supervisory control of
operations, whether direct or indirect, performed by employees
and insured subcontractors in a variety of trades.
CGL Coverage available:
• Primary limits up to $3,000,000 Occurrence/Aggregate
• Per Project Aggregate
• Excess or Umbrella limits up to $25,000,000
Available at no additional charge:
• $5,000 Medical Payments Coverage
• Additional Interests—Blanket Coverage when required
by contract, written agreement, or written permit for
• Primary and Noncontributory Wording—Applicable to
additional insureds under CG 20 33
• Waiver of Subrogation—Blanket Coverage included per
prior written agreement
Property Coverage available:
• Business Personal Property
• Business Income
• Basic, Broad, or Special Form
• Replacement Cost or Actual
• Equipment Breakdown
• Contractor’s Equipment
• Inland Marine
• Accounts Receivable
• Computer Equipment
• Outside Signs
• Valuable Papers
Crime Coverage available:
• Inside the Premises—Theft of Money and Securities
• Inside the Premises—Robbery or Safe Burglary of
• Outside the Premises
Looking for “General Contractors Insurance“? As an independent insurance broker in Reno/ Henderson/ Las Vegas Nevada, Balsiger Insurance can provide you with the proper coverage and insurance protection that suits your needs as a general contractor.
More information on Contractor’s Insurance below—
What Exactly is Contractor’s Insurance & Why Do You Need It?
When you run a contracting business, accidents and injuries can happen in the blink of an eye. One second, everything is fine, and the next … Pow! A mishandled nail gun or jigsaw could land you or an employee in the emergency room. A moment of carelessness could have you on the wrong end of a negligence lawsuit. Or a fire could damage your premises and leave your business homeless and short of necessary tools.
The right amount and type of contractor’s insurance coverage protects you against natural disasters, vandalism, lawsuits, and unfortunate moments when your mind wanders and you make a foolish—and expensive—mistake.
Some of the most important types of contractor’s insurance include the following:
• General liability coverage
• Contractor’s insurance for vehicles
• Worker’s compensation coverage
The sections below offer an overview of these common types of coverage. The list is not exhaustive, but it offers a good start. To fashion an individual policy that meets your individual needs, speak with Balsiger Insurance. We can advise you about what is available, what you should look for, and how to find an affordable policy that offers the right coverage.
General Liability Coverage
General liability coverage protects you against the costs of any lawsuit that arises out of a mistake or accident on your (or your employees’) part during the commission of contracting duties.
General liability coverage is so important that it is often the cornerstone of an organization’s insurance plan. Even a single accident can result in legal fees and consequences that you cannot afford, and which could put you out of business. Moreover, some general contractors will not hire a subcontractor who cannot demonstrate that they have enough coverage to protect the general contractors interests should something go wrong on the job.
Typically, general liability coverage protects you against the following:
• Cost of judgments against you
• Court costs, attorneys’ fees, and other legal expenses
• Out-of-court settlement costs
• Costs to defend nuisance lawsuits
• Medical expenses, where applicable
• Injury damages, in claims arising out of accidents on your property or during business operations
• Copyright violations
General liability coverage is very broad, but it does not normally cover the following:
• Employee injuries or illnesses—for these you need worker’s compensation insurance (see below)
• Auto accidents—these are covered under contractor vehicle insurance (see below)
• Punitive damages—it rarely pays for legal damages awarded against you as punishment for negligence or bad behavior
• Intentional acts—does not cover damages arising from intentional acts or expected injuries (e.g. if you intentionally assault a client)
• Warranties for your work (may be available)
• Professional liability (coverage available)
• Pollution liability (coverage available)
Contractor’s Insurance for Vehicles
If you or an employee is involved in an accident while driving a commercial truck, van, or automobile, contractor’s vehicle insurance will cover your liability for property damage and bodily injuries if you are found to be at fault. Many states have laws in place that require vehicles driven on the road to have a minimum level of personal liability and property damage coverage. Failure to insure your contractor vehicle properly can result in stiff files.
Depending on your needs, you can buy coverage for specific vehicles, including the following:
• Pick-up trucks and automobiles
• Commercial trucks
• Cargo or delivery vans
• Tow trucks
• Flatbed trucks
• Dump trucks
• Car carriers
• Cement trucks
• Gooseneck trailers
• Tilt trailers
• Low-boy trailers
The list above only scratches the surface. If your contractor business requires use of another type of vehicle or tow trailer, consult Balsiger Insurance about coverage.
Commercial Property Insurance
Commercial property insurance is not technically part of “contractor’s insurance,” but if your contracting company owns or leases an office building, garage, warehouse, or storage facility, you should view such coverage as indispensable.
It can cover the following while on site:
• Your building
• Your equipment
• Your furniture
• Your tools
• Your materials inventory
• Your exterior sign
• Fencing and landscaping
• Other people’s property
Should any of the above suffer damage due to fire, windstorm, vandalism, burst pipes, or other named perils, you will not find yourself out of pocket beyond any deductible.
Inland Marine Insurance
Inland marine coverage is what you want to protect your equipment that goes of site. Once a tool or piece of equipment leaves your shop it is no longer covered under any property coverage (any equipment covered under the inland marine does not have to be included in the onsite property coverage).
Inland marine is where you typically cover your tools and mobile equipment. Coverage is normally for the same perils/exposures as are covered under your property policy. Most carriers will want an inventory of all of your equipment.
Worker’s Compensation Insurance
If your business has employees, you almost certainly have to maintain a minimum level of worker’s compensation insurance, as required by law in most jurisdictions. “Worker’s comp” helps cover the costs of medical care, ambulance service, and even a portion of lost wages if one of your workers suffers an injury at work or comes down with a work-related illness. For instance, should an employee fall of the roof of a house while installing shingles and become unable to work for several weeks, worker’s compensation insurance removes liability from your company and covers the cost of the worker’s hospital stay, as well as part of the wages he would otherwise have earned.
What Businesses Need Contractor’s Insurance?
A wide variety of businesses can benefit from a minimum level of contractor’s insurance. Those in the following trades are likely candidates:
• Electrical installation
The sections below discuss these trades in greater detail, and explain how contractor’s insurance can benefit each.
If your contracting company performs construction work, you need construction insurance to protect you against the particular inherent risks of your business. The combination of heavy machinery, dangerous power tools, and heavy materials such as wood, concrete, and stone, make the construction industry ripe for accident and injury.
Consult your insurance agent to fashion a policy that protects you if you perform the following types of construction:
• Home Improvement—renovations, remodeling, home additions, etc.
• Building Construction—homes, office buildings, shopping centers
• Heavy Construction—highways, bridges, sports stadiums, and similar projects
If your business revolves around carpentry, you likely need some form of contractor’s insurance. Carpenters climb ladders, erect heavy wooden frames, and work with sharp tools and power equipment, so injuries or property damage and subsequent liability are not only possible, but likely. Carpentry businesses include such niches as the following:
• Deck builders
• Cabinet installers
• Carpentry contractors
Painters need contractor’s insurance since they or their employees spend a significant part of their time in precarious positions on high ladders. Falls are possible, paint spills can cause damage, and tools or paint cans falling from a height can cause serious injury.
Plumbers and similar tradesmen work with water, and the potential costs of water damage if they make a mistake are enormous. Water damage can destroy personal property, ruin flooring, damage furniture, and require thousands of dollars in repairs. The following trades should carry plumbing contractors insurance:
• Septic tank installers
• Sprinkler installers
• Plumbing contractors
Electrical Installation and Repair
Electricians perform one of the most dangerous tasks imaginable—wrangling high voltage. The risks of injury or death are significant, and mishandling or mis-wiring a project can lead to shorts or power surges that can damage expensive, sensitive electronics equipment. The potential for liability is enormous, so electricians need adequate contractor’s insurance to protect them should the unthinkable happen.
Landscapers work with lawn mowers, weed trimmers, and other machines that feature sharp blades that whirl at blinding speeds. They often work around rare and expensive ornamental plants and flowers. The combination of these facts makes the liability for landscapers and the potential for injury or property damage very high. Thus, landscapers, tree trimmers, irrigation contractors, and landscape architects should always carry substantial amounts of contractor’s insurance to protect their assets in case of accident, negligence, or legal trouble.
Choosing the Right Contractor’s Insurance Policy
When selecting a policy for your business, be sure to consult with a reputable, experienced insurance agent. Choose an agent with a wealth of knowledge about the local insurance market who can explain what types of coverage are available and what you should look for.
General liability insurance is a good place to start, followed by commercial vehicle insurance. Commercial property coverage is indispensable if you have a physical location or storage facility, and worker’s compensation insurance is required in many jurisdictions.
If you are in the construction, carpentry, painting, plumbing, electrical installation, or landscaping businesses, you should be sure to choose a contractor’s insurance policy that covers you in the event of catastrophic loss. That way, you can continue to operate your business as long as you want to.