Contractors Insurance in Texas

What insurance coverages are available to contractors?

Contractor insurance policies offer a wide array of protections. Some frequently offered coverages are:

• General Contractors Liability Insurance: Might cover routine accidents that result in third-party injuries or property damage (e.g. "slip and fall" incidents, other common incidents). Could extend to accidents at the contractor's facility, customer's location, or worksite.
• Commercial Auto Insurance: Might cover liabilities and physical damages for contractors if a company vehicle is in an accident or otherwise sustains damage. Could extend coverage to trucks, vans, and other vehicles.
• Commercial Umbrella Insurance: Might cover situations where legal costs and settlements surpass the limits of other liability insurances. Could extend the protection of one or more contractors liability insurance coverages.
• Commercial Property Insurance: Might cover a contractor-owned facility and the items stored in or around it. Could extend protection to tools, equipment, building supplies, and fixtures or other items at the facility.
• Inland Marine Insurance: Might cover tools, equipment, and supplies when they are in transit between worksites and the contractor’s facility. Could also cover items being moved between facilities or between worksites.
• Contractors Equipment Insurance: Might cover tools, equipment, and supplies that are at worksites.Could protect against damage, theft and other risks.
• Equipment Breakdown Insurance: Might cover the costs related to unexpected breakdowns of essential equipment that require immediate repairs for the contractor to continue operations.
• Builders Risk Insurance: Might cover risks specific to the construction industry, such as those associated with construction activities and the materials, fixtures and equipment used on the worksite.

General contractors liability insurance and other liability insurance coverages usually assist with legal costs and settlements related to any covered lawsuits or claims. Assistance typically begins once a covered claim is filed and before a lawsuit concludes, providing contractors with access to legal defense resources when they’re being sued.