Contractor Insurance Massachusetts

Contractor Insurance Massachusetts – What You Need to Know

contractor insurance massachusetts

There are many different types of contractor insurance Massachusetts contractors must purchase to protect themselves and their assets. General liability insurance protects your personal assets in the event of a lawsuit, while workers compensation coverage protects you and your employees. Additionally, commercial auto insurance protects your vehicles. These insurance policies are necessary for contractors of all types. But which type of coverage is right for you? In this article, you’ll learn about contractor insurance Massachusetts and how to get the best policy for your business.

General liability insurance

If you are a contractor in Massachusetts, it is mandatory to carry general liability insurance. This coverage is very important and can be affordable. The cost of such a policy depends on the type of business you have and the area in which you’re doing business. Before buying the insurance, you should compare quotes from at least three different companies. While choosing a policy, consider the financial strength and customer satisfaction of the company. Remember, lower price isn’t always better, but the peace of mind it provides can be worth it.

Welding contractor insurance

General liability and welder liability insurance are important pieces of welder contractor insurance. These types of insurance cover medical and legal expenses, as well as defense costs in the event of a lawsuit. Liability insurance protects you from the financial hardship of being sued, whether in Massachusetts or another state. Your liability insurance policy will cover legal defense and financial damages, making it essential to protect yourself and your business. The following are a few common reasons why welding contractors should have these policies.

Excavation contractor insurance

If you work in the excavation and demolition industry in Massachusetts, you should consider getting an insurance policy to protect yourself. Many excavation contractors are required to carry workers compensation coverage to protect themselves in case of an accident or injury on the job. This insurance provides financial assistance for medical care and lost wages. Excavation contractors are often required to carry workers compensation by building companies, and not having the coverage could make securing large jobs difficult.

Home improvement contractor insurance

When completing a home improvement project, it is important for the contractor to have proper insurance coverage. Massachusetts law requires home improvement contractors to carry general liability and workers’ compensation insurance. Depending on the monetary limit of your contractor’s license, you must have a minimum amount of coverage for each. If your contractor is operating within $500k of this limit, you must have at least $100,000 of coverage. If you are operating in the $1 million range, you must carry a minimum of $1,000,000 of coverage.

Excavation contractor workers compensation insurance

If you own a company and are the owner of a large excavation business in Massachusetts, you will need workers compensation insurance. Workers compensation is a legal requirement for most businesses, and excavation contractors are no exception. This type of insurance pays a portion of lost wages and medical costs when an employee sustains an injury on the job. In addition to protecting the worker, workers compensation also protects the property owned by the business.

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