Arlington Heights, Ohio
410 Elliott Ave
Cincinnati, OH 45215

A Guide to Contractors Insurance March 27, 2019

Arlington Heights, Arlington Heights
A Guide to Contractors Insurance, Arlington Heights, Ohio

Just like any business owner, general contractors need to make sure they are financially protected against any incidents that might occur while they’re providing a professional service. Regardless of how big or small a project may be, all construction sites are risky places to work. Therefore, it’s essential to purchase contractors insurance. This refers to a range of policies that can be put together to effectively cover the wide variety of risks affecting contractors. If the nature of your business falls into this category, here are a few key aspects to know about being insured.

Who Needs Contractors Insurance? 

Contractors insurance is necessary for any business involved in building structures, making renovations, or performing basic home improvement services. This includes electricians, plumbers, painters, landscapers, roofers, and HVAC specialists. These professions face unique risks at the job site that can result in serious injuries and property damage, putting a contractor’s operations in jeopardy. 

What Policies Should You Consider?

insuranceYour insurance needs will depend on the kind of work you do. There are several policy options available, but some of the most common types that contractors purchase are:

  • General Liability: Covers legal costs that arise from third-party lawsuits due to bodily injuries, property damage, and faulty work
  • Professional Liability: Protects against lawsuits that stem from claims of negligence and errors 
  • Workers’ Compensation: Provides benefits to employees who experience an injury or illness while on the job
  • Commercial Auto: Pays for damages caused by and done to business-owned vehicles 
  • Inland Marine: Covers tools, equipment, and materials while they’re being transported to a job site
  • Builder’s Risk: Covers damage or losses related to work materials, tools, and equipment while a project is underway

Why Is Having Coverage Important?

Contractors insurance will not only help preserve your business’s financial stability but also prove to clients that you take your work seriously. Having proper coverage will make you stand out when you’re bidding for a project against the competition, giving homeowners more reason to choose you—knowing they will be protected should an accident take place. Additionally, if your state requires you to carry insurance and you fail to comply, it can lead to hefty fines or the loss of your business license.


If you are shopping for contractors insurance, it’s best to consult an experienced insurance agency that understands these policies and can help you select the coverage most suitable for your needs. Backed by nearly 45 years of experience, Stautberg Financial Group can be trusted to put together a comprehensive risk management plan that provides adequate protection for every project you’re hired to work on. They assist businesses of all sizes and industries, ensuring they have access to quality products at competitive pricing. Call their Cincinnati, OH, office at (513) 821-6300 to request a quote, or visit them online to learn more about the different kinds of coverage they offer. 

Other Announcements, Events and Deals from Stautberg Financial Group
A Quick Guide to Umbrella Insurance, Arlington Heights, Ohio
If you cause an accident that results in damage or injury, for example, on the road or at your home, the liability coverage in your insurance policy will kick in to cover more
3 Reasons College Students Should Have a Renters Insurance Policy, Arlington Heights, Ohio
From lower monthly rates to more space, renting a place off-campus has many advantages for college students. But despite these benefits, apartment living will always present risks— more
Do Young People Need Life Insurance?, Arlington Heights, Ohio
Ask the average millennial what they consider their top financial priorities, and life insurance might not make the list. With youth, independence, good health, and other more
 A Guide to Auto Insurance for Financed Vehicles, Arlington Heights, Ohio
Cars help you get from point A to B quickly, so you can get on with your busy life. As a driver, you need to carry a certain amount of auto insurance if you were to get more
4 Reasons Why You Need Home Insurance, Arlington Heights, Ohio
You should always do everything you can to protect your home, the surrounding property, and your belongings from an unexpected disaster. Home insurance is designed to pay for more