Houston Contractors Insurance

Contracting is a very tough and complicated business where contractors are often exposed to hazardous jobs. Contractors are responsible for building our homes, offices, and roads, meaning they need unique insurance requirements. TWFG Khan Insurance Services best understands the needs of contractors; this is why we offer the best insurance cover for contractors in Houston.

Generally speaking, contractors’ liability insurance covers body injuries as well as property damage caused by your work. It protects contractors, building professionals, as well as to artisans or subcontractors like plumbers, engineers, and architects.

What to Look for When Buying Houston Contractors Insurance

Due to contractors’ specific and unique needs, several types of insurance make up Houston contractors insurance. Contractors often need up to 9 specific policies and bonds, depending on their situation, activities, and tolerance to take an out-of-pocket risk. When buying contractors insurance, it comes in sort of ‘package’ type that is set for major basic types of contracting businesses designed to fill in gaps during major loses effectively. This is made so that each contractor can buy contractors insurance that is specific to their needs. For example:

• Liability Insurance - This is also known as Commercial General Liability Coverage. Liability insurance protects your company from legal action that may be thrown upon you during specific instances, like bodily injuries or property damage to a third party during a particular contract. In the event you are found negligent in your business operations, your liability insurance will pay for your defense.
   
• Property Coverage - Unlike homeowners’ insurance, your commercial building insurance does not automatically include for the contents of your building/s. Property insurance needs to be purchased separately to have this coverage.
   
• Specialized Coverage - Contractors often have mobile equipment that which need a particular type of insurance. Don’t count on your primary contents coverage to insure your property especially when it is away from your premises. In general, mobile items that cost more than $5,000 are considered to be equipment; and items that cost below $5,000 are considered as tools. For tools, you need to know the value of all smaller items which equal to the lump sum of insurance purchased. Although your tools may be covered by your contents insurance when they are at your shop location, your tool limit needs to reflect the maximum value of tools that may be off-site at any one time. For equipment, you want to schedule each item. Each larger item must be specifically listed on your policy.

When choosing a commercial insurance provider, it is best to go to the ones with great and long-time experience. You also want to find a provider that doesn’t charge you with any hidden fees along the way.  In Houston, TWFG Khan Insurance Services provides just that; they also provide a wide range of insurances so that you will not be jumping from one provider to another to get your contractors’ insurance right. We are a start-up builder friendly, great for small businesses as well as mid-sized corporations.