CONTRACTORS & CONSTRUCTION INSURANCE
Construction in the area has grown and construction company's of all sizes have seen the demand. With over 75 years of experience, Jacob Insurance Service can cover a wide range of contractors risk. A typical contractor's policy includes, but not limited to, general liability, commercial auto, inland marine/contractors equipment, worker's compensation, and contract bonds. Here are some more in depth definitions/explanations of each of these type of coverage's:
General Liability: GL is a broad coverage used for most commercial risks. General liability would cover the costs incurred due to a law suit, bodily injury caused by negligence at a covered business location, and also, in some cases, damage to property of others.
Commercial Auto: Commercial auto liability will protect the business owner from auto accidents caused by the owner(s) and employees. This type of liability will cover bodily injury and property damage caused by the driver of the insured vehicle.
Inland Marine/Contractors Equipment: Inland marine coverage can include large equipment along with small tools. This coverage covers tools & equipment for "all risk" along with off-premises coverage. For example, if a contractor left their tools and equipment overnight at a job site, then their tools & equipment would still be covered for theft, fire, vandalism, etc.
Worker's Compensation: Typical worker's compensation limits range from $100,000 to $1,000,000. Higher limits may be available. On a worker's compensation policy, coverage's will consist of three parts. Each accident, disease (each employee), and disease (policy limit).
For More Details on Contractor's Insurance Coverage, Please contact a Jacob Insurance Service Agent at