What are the different types of commercial insurance for contractors in New Hampshire? There are several options to consider. You may also need workers’ compensation insurance. Learn more about the costs of these policies. Insureon’s licensed agents can help you find policies for your small business. You can also download a certificate of insurance online. To get started, visit insureon.com. Here, you can search for policies by category and zip code.
General liability insurance
Purchasing General Liability Insurance for contractors in New Hampshire may seem like a daunting task, but it can actually be much easier than you think. Unlike your standard homeowner’s policy, contractors can opt for this type of coverage. Unlike a homeowner’s policy, construction insurance protects you from any lawsuits or damage claims caused by your business. The good news is that New Hampshire state law doesn’t require you to carry this coverage – except for workers’ compensation, of course. Besides, it is required by landlords and prospective clients for building owners to carry this insurance.
Contractors in New Hampshire should get this type of insurance for several reasons. Not only will it protect your company against client injury, but it will also help protect your employees from claims that arise from work-related accidents. A general liability insurance policy will also pay for medical bills if someone is injured while working on your property. And of course, if you have employees, you can protect their welfare with NH dog walker insurance.
Workers’ compensation insurance
A worker may become injured while performing a job, resulting in loss of wages. Workers’ compensation benefits provide replacement for lost wages. New Hampshire has strict laws that punish employers who do not carry the necessary coverage for their employees. Fines for employers who do not carry workers’ compensation insurance are up to $2,500. These fines may be imposed even on small contractors, but many smaller businesses don’t want to risk such a fine.
Contractors and business entities in New Hampshire must carry workers’ compensation coverage if they employ any employees. Independent contractors are not required to carry the coverage but must meet certain criteria in the state’s workers’ compensation statutes. Workers’ compensation insurance covers workers who suffer from injuries or illnesses while performing work, and reimburses medical bills and provides weekly disability payments to injured workers. Purchasing workers’ compensation insurance is easy and convenient. There are licensed insurance brokers and agents in the state that can help you make the right decision for your business.
Cost of general liability insurance
The cost of general liability insurance for contractors in New Hampshire can range widely. This is because the amount of coverage a contractor needs depends on his or her industry and the type of work he or she performs. Small businesses typically need coverage of between $500,000 and $1 million, but if your company is more prone to risk, you may want to consider boosting your coverage. Home-based businesses may also have a limited liability insurance policy.
General liability insurance will pay for legal defense costs, award settlements, and medical expenses in the event that a third-party lawsuit sues your company. It also covers professional liability. A typical NH contractor’s policy may include a variety of business coverage options, including property damage and drywall repair. While state law does not require businesses to carry any of these policies, prospective clients and landlords often require them.