Insurance for Contractors in Phoenix, Arizona

Almost everyone nowadays has some type of insurance, and this is especially true for businesses. Insurance helps business owners protect themselves in the event of negative occurrences, and when it comes to independent contractors and insurance, being covered is just as important. Not only should contractors consider investing in insurance for their own protection, but many employers won’t even accept bids for jobs unless they know that the contractors and insurance companies have something worked out.

General Liability Coverage

General liability coverage provides contractors with coverage in the event that something goes wrong on the job. On-the-job injuries and equipment breakage are examples of the types of instances covered under general liability coverage insurance policies. This type of liability coverage covers not only the contractor, but the hiring entity as well.

Commercial Auto Coverage

Contractors and insurance companies can also work together to come up with a comprehensive commercial auto coverage package for contractors who have commercial vehicles as part of their business services. This type of coverage protects both the contractor and the client in the event that an accident occurs while the contractor is driving as part of the assigned job being completed for the hiring entity. For instance, if the contractor gets involved in an auto accident on his or her way to pick up supplies for the job being completed for the hiring entity, then the commercial auto coverage will take care of the costs of the accident rather than the contractor or client being held liable.

Workers Compensation Insurance

Workers compensation insurance provides business owners with protection if one of their subcontractors gets hurt while on the job. This is one of the most essential types of insurance for contractors to make sure that they invest in since it provides them with a safety net in the event that someone becomes injured while on the job. Without workers compensation insurance, contractors could find themselves subject to lawsuits that could end up crippling or even demolishing their businesses.

Performance Bonds

Another type of insurance that contractors can invest in is a performance bond. Performance bonds guarantee that a contractor’s work will be completed satisfactorily. If the job isn’t completed according to the set standards, then the bond is released for completing or repairing the project. Performance bonds protect contractors in the event that they become disabled and can’t continue to complete a project. This protects not only the hiring entity but the contractor as well.

Best regards,
Gary Hanson
Professional Insurance Strategies, LLC
6708 W. Bethany Home Rd
Glendale, AZ 85301

ghanson@proinsgroup.com
602-481-0161
623-551-6716 Fax

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