The home improvement business carries numerous potential pitfalls and hazards. Working with diverse and sometimes shifting crews on projects ranging from minor repairs to significant home renovations requires changing approaches, tools, types of sub-contractors, and more. Maintaining a comprehensive suite of home improvement contractor insurance will protect your business in the event of an accident, and help promote fiscal reliability as you build your operation.
What Will Insurance Cover?
The range of work done by contractors specializing in home improvement varies widely. Accordingly, it is useful to consult with an insurance professional to develop a coverage plan that is adequate to your business needs. Your plan may include some or all of the following, and more:
- General liability, offering coverage in the event of a claim by a third party, including an unhappy or litigious client
- Workers compensation, protecting your crew members
- Equipment, tool, and/or vehicle coverage, covering the wide diversity of construction equipment you employ
- Pollution liability, ensuring coverage in the event of any accidental pollution or release of hazardous waste in the course of completing a project
These represent only some of the hazards involved in the contractor business; discussing your specific needs with an insurer is essential to developing a complete home improvement contractor insurance policy.