Even the best-laid plans can end in disaster. This is especially true for significant construction projects. Regardless of how detailed your blueprints or how well-trained your staff is, issues usually arise along the way. However, as long as you have adequate contractors insurance, any such problems should be easy to resolve. Below are a few benefits of having a comprehensive policy.

What Does Contractors Insurance Provide?

1. Asset Protection

Contractors insurance covers all your valuable tools and equipment. In the event of theft, vandalism, foul weather, or another covered peril, your insurer will reimburse you for any damaged assets, so your team can still complete the project on time and within budget.

2. Bodily Injury Liability 

Construction sites are inherently dangerous. If one of your employees gets hurt on the job, the workers’ compensation portion of your policy should cover the medical expenses and lost wages. Should someone else sustain injuries—the client, for example, during a walkthrough of the site—your insurer covers the resulting hospital bills. Because such damages can add up quickly, you don’t want to assume them yourself.

3. Property Damage Coverage 

If the client’s property gets damaged during construction, your insurance will also cover it. Perhaps the scaffolding collapses, or someone on your team accidentally strikes a pipe, flooding the entire floor. In the event of these accidents, your insurer will compensate the client for all necessary repairs.

If you’re looking for contractors insurance, turn to Taake Insurance Agency LTD. Located in Columbia, IL, this locally owned and operated agency is proud to serve individuals, families, and businesses throughout Monroe County. Since 1977, they've helped clients plan for all situations. Representing some of the biggest insurers, they offer a broad range of policies, including auto, home, life, and health coverage. To request a quote for your contractors insurance, call (618) 281-7656. For more information about their services, visit their website.