EPLI protects you from discrimination, wrongful termination, and other employee-related legal claims. It’s worth the investment if your business employs many people or faces a higher risk of claims from staff.
New York Contractors Insurance
Contracting is a risk-filled field.
Protect yourself with comprehensive contractors insurance coverage from HCP Insurance. We offer custom policies for your unique business.
Cover yourself with contractors insurance
HCP Insurance specializes in comprehensive contractors insurance in New York to protect contractors from liabilities they encounter during their work.
What is contractors insurance?
Contractors insurance protects contractors from liabilities they encounter during their work. This can include having a client make a property or physical damage claim resulting from the project.
If you’re a contractor based in New York in need of reliable and customized insurance solutions, we encourage you to reach out to us today. Our team is ready to assist you in finding the right insurance policy to safeguard your business and minimize potential risks.
Businesses that fall under this umbrella include:
- electricians
- independent contractors
- general contractors
- carpenters
- painters
- tapers
- handymen
- HVAC professionals
- residential remodeling contractors
What are basic types of insurance for contractors?
Contractors insurance is a relatively broad category of coverage, with four main types of plans available:
- property insurance to cover your business from property damage or destruction to property
- general liability insurance to protect you from financial losses from work-related legal disputes
- workers’ compensation insurance to pay for medical costs and lost wages if an employee is injured on the job
What additional insurance protections should contractors be aware of?
Depending on your specific needs, you may also need to consider extra coverage for your business.
Commercial umbrella insurance provides more protection than standard liability coverage. For example, it covers libel, slander, false advertising, and copyright infringement issues.
Contractors heavily rely on equipment and tools to perform their work. This insurance provides coverage for damage, loss, or theft of essential equipment and tools. It ensures contractors can replace or repair their equipment quickly, minimizing downtime and financial losses.
How much does contractors insurance cost?
The protection of contractors insurance is critical. However, it can also be counterproductive if you have a policy that doesn’t fit your needs or budget.
There are many factors that can influence how much you’ll pay for your policy.
They include:
- type of business activities
- business size
- geographic location
- deductible
- employment size
type of business activities
business size
geographic location
deductible
employment sizeChoose HCP Insurance for contractors insurance
HCP Insurance is a leading provider of contractors insurance in New York. We offer a range of coverages to ensure you find the right fit, including. property insurance, liability coverage, workers’ compensation, and commercial auto insurance.
With a team of highly skilled and knowledgeable professionals, we are dedicated to providing top-notch insurance solutions tailored to meet the specific needs of your business.
At HCP Insurance, we have established long-term relationships with national carriers in the insurance industry. This allows us to leverage our partnerships and secure the best policies available in the market at competitive rates.
Frequently asked questions about contractors insurance
We get it, insurance is a complex topic. That’s why we’ve taken the liberty of answering some of the most commonly asked questions on the topic for you.
Choosing a policy that provides the right blend of coverage, limits, and deductibles for your business is vital. You should also look for a provider who understands your needs and provides personalized service.
The best way to determine if you need more coverage is reviewing your current policy and consulting an experienced insurance agent. They can help identify areas where you may be exposed to potential risk. Then, they can recommend other coverages to protect your business.
Yes, this might be an option! Often, bundling your contractors insurance with other policies, such as general liability insurance or commercial property insurance, is possible. Bundling can often lead to cost savings, so it’s worth discussing with your insurance provider or agent.
It depends on your particular needs. Generally, you should start with property insurance, liability protection, and workers’ compensation coverage. Commercial auto insurance is essential if you use a vehicle for your business.
In contrast, EPLI and commercial umbrella insurance may be necessary if you have many employees or face a higher risk of certain claims.
You should reassess your coverage at least once a year to make sure it’s still enough for your business’s current needs. Insurance providers may have updated their policies or rates even if your business hasn’t changed.
Contact your insurance carrier as soon as possible to start the claims process. Depending on the type of coverage you have, you may need to submit certain documents or more information on the incident. Your HCP Insurance agent will help you every step of the way.
