You’ve built your contracting business with the sweat of your brow, and you want to see it continue to grow and succeed throughout the years. It’s kind of your baby, after all. But like any business, there’s always the risk of liability somewhere that could threaten all the hard work.
Here are some possible risks you may encounter with your contracting business, and what you can do to prevent and prepare for them:
- Sometimes accidents happen; materials get broken, tools get lost, etc.. Unfortunately, there is the possibility that accidents can happen to the property of others that’s in your care, custody, or control. If this is something you’re worried about, you can purchase Contractors Insurance specifically made for damages to property in your care.
- What if your business were to experience vandalism? Or perhaps other property damage, like a fire? In the event of property damage, make sure your business is ready with coverage for property losses.
- Sometimes tools and supplies go missing, and sometimes it’s not by accident. Protect the equipment your business relies on from theft with contractor’s tool/equipment coverage.
- There is always a small risk of physical harm for employees at any given job, but for contractors, that risk can be a bit higher. Make sure you and your employees are prepared for the worst with worker’s compensation, just in case someone suffers an injury.
This list covers only a few of the risks your contracting business may encounter over the years. You can count on Warren Weiss Agency to help you get the coverage you need so your business doesn’t miss a beat.