Protect Your Tennessee Business with Contractor Insurance
As a contractor, you serve a variety of industries and people. You may provide electrical services to residences, or plumbing services to commercial properties. Some businesses focus on landscaping properties to bring new curb appeal. Others center on carpentry, janitorial, or painting services. No matter what industry you work in, you understand that protecting your business and your employees’ well-being is paramount to staying successful and within the law. One way to do that is to invest in contractor insurance for your Tennessee business. While insurance coverage can seem confusing, The Nowell Agency is here to help you navigate the complex market and choose wisely from the different types of insurance available.
Do You Need Contractor Insurance in Tennessee?
Before you bid on a project, you should make sure you have not only the correct license but also the right coverage for your business. According to the Tennessee Department of Commerce, if you are a general contractor or subcontractor, you have to be licensed and you need to have General Liability and Worker’s Compensation insurance.
What Kinds of Contractor’s Insurance Is Available in Tennessee?
While General Liability and Worker’s Compensation insurances are required, other types of insurance can help protect your business. Here is a basic breakdown of some of the different types of coverages:
- General Liability Insurance – This coverage can help protect you and your business from losses in day-to-day activities. These may include accidents, injuries, property damage, etc.
- Worker’s Compensation – If you have employees, you must have protection in the case of job site accidents.
- Tools and Equipment – This coverage helps protect your more expensive tools, such as welders, generators, nail guns, and other devices that are portable and cost more than other standard tools of the trade.
- Builder’s Risk (C.O.C. – or Course of Construction) – This coverage is generally required of lenders during construction or a rehabilitation project. It helps cover physical damage on properties under development.
- Business Auto Insurance – You cannot depend on your personal auto insurance to cover the vehicles used for commercial purposes. Business auto coverage can help protect your commercial vehicles.
It can be confusing to determine the best policy for your business needs. At The Nowell Agency, we work with you to understand what your specific insurance requirements are and then tailor a suitable package based on your needs.
Work with a Trusted Company in Tennessee to Buy Your Contractor’s Insurance
Protecting your livelihood is crucial to your business success. Avoid overpaying for coverage you may not need. At The Nowell Agency, we understand the demands placed on contractors. We work with a variety of providers to get you the best contractor insurance for your specific commercial needs. One of our professional, experienced brokers will be glad to discuss your needs and design an insurance package that delivers the right protection at the right price.
Request a quote online for Contractor’s Insurance in Tennessee or call our office at 888-539-6218 to schedule a meeting with a knowledgeable and professional broker at The Nowell Agency.