What Types of Contractor Insurance Delaware Do You Need?
When you’re in business, you need to protect yourself from the risks associated with your business. If you’re in the construction business, you need different types of coverage than a retail store, for example. The coverages you need are different from what you would get for a legal or financial services company or a manufacturing factory. Luckily, there are insurance agents specializing in these types of industries. Here are some tips to keep in mind.
General liability insurance
What is the average cost of Delaware contractor insurance? The cost of general liability insurance depends on your business type and day-to-day risks. For example, a roofer working on a roof faces higher risks than an accountant. In addition, the amount of risk your business faces is also important because of the litigious nature of our society. Even if you are not at fault, you could be sued for libel and slander. In this case, general liability insurance is critical for protecting your business.
Workers’ compensation insurance
If you run a business or own a sole proprietorship, you should consider buying workers’ compensation insurance for Delaware contractors. While you may not have to buy it, you may not have the means to pay a large hospital bill for an injury that occurs at work. These injuries can be costly and may require years of recovery. Workers’ compensation insurance is one way to protect yourself from such a financial setback. However, this type of insurance is not a necessity.
Commercial auto insurance
A Delaware contractor insurance policy should cover the vehicles he uses to do business. It is essential for a business to have this type of insurance so that it won’t be liable for damages to vehicles or property. Commercial auto insurance will also cover bodily injury or medical expenses if someone is injured while in the vehicle. Moreover, this type of coverage will protect you from legal issues if you have an accident. Here are some reasons why you should get Delaware commercial auto insurance.
Sports & fitness insurance
If you’re a business owner in Delaware, you are required to carry workers compensation insurance as well as sports & fitness insurance. This type of policy covers your employees, customers, and equipment. It’s ideal for theaters, large recreational properties, and publicly-owned athletic fields. If you’re looking to add more coverage to your Delaware contractor insurance policy, sports & fitness insurance is an excellent choice.
Professional liability insurance
In addition to Delaware contractor insurance, you must carry commercial auto insurance. This policy covers legal fees and settlement costs resulting from accidents and damage to another party’s property. Commercial auto insurance is necessary for businesses in Delaware that use vehicles to operate their business. The only exception to this rule is if the vehicle is used for commuting to work. In addition, truck drivers must comply with regulations set forth by the Federal Motor Carrier Safety Administration (FMCSA).