Click to Call
IRM Insurance

11002 Kingston Pike, Suite 103
Knoxville, TN 37934

Get Directions
IRM Insurance Blog

A Guide to General Liability Insurance for Contractors

One of the most high-risk workplaces is a construction site in the United States. General liability insurance is a must-have in protecting all professionals should they be involved in a work-related accident. IRM Insurance of Knoxville, TN can assist contractors with understanding a general liability insurance policy and how it protects their business from a financial nightmare.

What Does General Liability Insurance Cover?

General liability insurance is an excellent foundation for all contractors trying to protect their business. There are plenty of risks when being an active participant in the construction industry. The wording of your insurance policy should allow for additional coverage if the business expands.

The purpose of general liability insurance is to cover for work accidents and personal property damage. It’s rare, but employees, clients, and innocent bystanders could get injured from flying debris. General liability insurance will cover all medical expenses for the injured party.

Another major concern for general contractors is damaging a client’s personal property. But, accidents will happen due to operator or mechanical error. General liability coverage will protect a contractor from making out-of-pocket payments for the repairs.

Why a Contractor Needs General Liability Insurance?

Contractors learn quickly why they need general liability insurance. It’s to keep them from facing financial ruin from a work-related accident. Too often, construction businesses have folded because they failed to have the right general liability insurance coverage. A settlement for either property damage repairs or medical care for an injured third-party became too much of a financial burden for the business to survive. Plus, more clients are requiring contractors to show proof of general liability insurance before hiring them for home improvement work. 

General liability insurance has become a must-have in protecting contractors from unexpected losses. IRM Insurance of Knoxville, TN is honored to assist those connected in the construction industry in getting the right coverage for their business. We will design a policy that protects your interest and meet your insurance needs. Schedule an appointment today!

Contractors Insurance Made Easy

Contractors Insurance

Contractors Insurance is a safety net protecting your for being responsible for the work that you do. Any error or act of negligence will be held against you personally. In order to protect yourself from the unexpected it is imperative that you have a Farragut contractors insurance policy that provides comprehensive coverage. As your career progresses you will likely find that many potential employers and projects will require that you have a current contractors liability insurance policy in place. If you don’t, they won’t even consider you for the job.

Here at IRM insurance we offer a variety of policies to fit just about any contractor businesses, including plumbing, cleaning, and more. Shopping for affordable insurance just got even easier. In fact, we offer 2 convenient ways to get a quote. If you prefer to speak live we have agents standing by. We also offer you the ability to begin your quote right here on our website.

Common types of contractor insurance:

General Liability Contractors Insurance

Contractors general liability is great protection to have in the event of property damage, bodily injury, personal injury, and other claims that arise due to a fault of your business.

This type of Contractors Insurance is available for various businesses, with the price of your coverage being based on several factors, including your location, the number of employees you have, the level of risk your business is exposed to, and the business type.

Keep in mind that you don’t have to be a property owner, have payroll expenses, or cover operating expenses to qualify for contractor liability insurance. As a contractor, you are still at risk of liability even if you don’t own the business.

There is no one size fits all contractors insurance policy and there are various options to choose from. Our team of experts here at IRM are here to help craft a plan that meets your specific needs.

Commercial Vehicle Protection

Vehicles and trailers that are required for your business, such as pick up trucks and tow trucks, are also in need of protection as part of your business.

Other types of vehicles that are commonly covered under commercial vehicle protection include:

Dump trucks

  • Gooseneck trailers
  • Tilt trailers
  • Low boy trailers
  • And more

Commercial vehicle insurance typically varies based on vehicle type. For a more thorough list of vehicles that are insured, contact one of our friendly agents.

Employee Dishonesty Coverage

No one likes to think of their employees as dishonest, but the reality is theft often occurs from your very own employees. Farragut TN contractors insurance Employee Dishonesty Coverage can help safeguard against employee theft.

Who Can Benefit from Contractor’s Insurance?

Contractors, subcontractors, and general contractors vary by business type. Some of the most common businesses that require Farragut TN contractors insurance include:

  • Landscaping
  • Plumber
  • Construction
  • Painter
  • Electrician
  • Handyman
  • Cleaning
  • Carpenter
  • And more

Are you ready for a FREE quote? If so, give us a ring today at (865) 579-0500 or begin your quote here on our website.