Working as a contractor can often feel like you’re lost at sea. While there is freedom in owning a business, you must also assume the responsibility of protecting yourself from the biggest risks of your field. If you’re someone who works as a carpenter or landscaper, for example, you absolutely want to find an insurance plan that provides you with the peace of mind you need to go to work each day.
Assess the Risks
Taking out contractor insurance for landscapers, carpenters and home builders starts by assessing the biggest risks you are likely to face. You absolutely want to find adequate health coverage, as you never know when an accident can occur while you’re working. If you have anyone working under you, it is also important to take out workers’ compensation coverage in the event that one of these subcontractors become injured. You must also look at the specific regulations of your state, as the laws surrounding contractor’s insurance will change from one to the next. Other points to consider include:
- Coverage for equipment
- Insurance for company vehicles
- Coverage for errors and omissions
Understand the Plan
By dedicating time to the search for the right insurance coverage, you can put together a plan that helps you feel safe while at work. Review the basic risks of your industry and protect yourself with a plan that meets all the demands of your field.