Independent contractor insurance can have many exclusions, as basic coverage is only a general liability. For example, employee injuries, liability for serving alcohol, automobile liability, and professional liability are all excluded from general liability insurance. Many independent contractors accept cash or cheque payment methods. However, if you accept credit cards, you should consider cyber liability insurance. This mainly depends on the type of policies you receive. But there are also other factors that need to be added to the formula. For example, a contractor typically has the following types of business insurance (at least): Coverage options include liability protection, protection from abuse and harassment claims, legal defense, personal injury and property damage, and general liability coverage. You can also add additional policyholders for free. B for example an owner. Markel covers the accident medical expenses of students and volunteers.

You can also offer roof liability insurance and other coverage in certain programs such as corporal punishment and child abduction claims. This type of policy can help repair or replace tools and equipment that have been lost, stolen, or accidentally damaged. If you take out monthly general liability insurance with Thimble, we bundle this type of insurance into your policy. Our Business Equipment Protection (BEP) can have a limit of $1000, $2500 or $5,000, and you can add up to two items worth more than $2,500 to your policy. If you do not want to protect your devices with this case, the BEP add-on is of course optional. While the types of contractor insurance you receive depend on your unique operations, you should always consider basic protection: insurance policies usually start with general liability as a basis, and then coverage for additional liability risks, business assets, income, and business operations can be added. To make sure your business and your customers` information are protected, consider purchasing cyber liability insurance. Most guidelines for independent contractors range around $500 for the year. The cost of inland navigation insurance depends on the value of the items you want to insure. For example, if you need $10,000 in coverage, you could pay about $250 a year.

Nationwide was founded in 1926 and is headquartered in Columbus, Ohio. Nationwide won in the J.D. Power Small Business Commercial Insurance Study 2019 ranked first for customer satisfaction, but dropped from last to second place in the 2020 ranking. and they have a strong financial stability rating of AM Best of A+. Their insurance products are available throughout the country. Overall, the cost of inland navigation insurance largely depends on the size of your business and the total cost of your tools and equipment. That said, it can range from $250 a year to $1,000 a year. There is no coverage for personal property in general liability insurance.

Commercial property insurance can be purchased, but coverage of real estate in transit or off-premises is often excluded. Coverage for product recalls, samples and inventory is not automatically included in an independent contractor`s policy. Typically, create a flat-rate insurance policy based on your individual needs or add endorsement coverage. If you want to get additional coverage at a better price, consider an entrepreneur insurance policy or a business owner policy. This bundle combines general liability with commercial property insurance that protects your tools, equipment, inventory, and more. How can I reduce my general contractor insurance premiums? Consider bundling insurance. Your insurance provider can offer discounted rates by bundling your different coverage needs. The Hartford is headquartered in Connecticut and was founded in 1810. In the 1980s, they were one of the first insurance companies to offer an insurance center for small businesses.

They currently insure more than one million small business owners. With an AM Best financial strength rating from A+ (Superior) and the best customer satisfaction ratings for many of their lines of insurance, The Hartford has long had a reputation as a strong insurer in the United States. Independent contractor insurance usually includes general liability coverage that covers you for damages you have to pay due to bodily injury, property damage, or bodily injury and advertising. Personal injury and publicity damages include damages resulting from defamation, defamation or infringement of the privacy or copyright of others in your advertisements. Health insurance protects you against claims if a third party is injured in your home (regardless of fault). With commercial property insurance, you are insured if your business property is damaged, stolen or vandalized. The policy also covers damage caused by disasters such as fires, wind, and burst pipes in your premises and up to 500 feet from your premises. .