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Insurance For Tools and Materials You Use on Worksites

Your contracting duties include seeking adequate insurance coverage for the tools and materials that you use on each work site. Review some items that you should add to your contractor’s insurance policy. Then, consult with one of our Einstein Insurance agents for sound insurance advice.

An Inventory

Take an inventory of the tools and materials you use regularly. Focus solely on the items you own outright. If you rent items on occasion, the owner of the rental facility will be responsible for insuring the equipment you rent out.

If you plan to purchase contracting equipment soon, seek additional contractor’s insurance coverage for each item you purchase.

Organizational Tips

Keep your tools and contracting materials organized. Organizing everything will help you keep track of when you need to order new items. It will also save you time when you are preparing each worksite for an upcoming project.

If you own many small hand tools and other loose items needed for contracting duties, purchase a large toolbox or another storage aid to secure them all.

Limits and Exclusions

Your contractor’s insurance policy will specify limits and exclusions. Review this information. If you do not think the policy provides enough coverage for your tools and materials, shop around for additional insurance coverage.

Add-on coverage will increase the amount of coverage that your contractor’s insurance policy provides.

Contact Einstein Insurance

If you would like to learn more about your contractor’s insurance policy, meet with one of our insurance agents. An agent representing the Portland, OR, area will schedule your insurance appointment.

Protect Your Business With Contractors Insurance

At Einstein Insurance, we understand that your business is your livelihood. As a contractor in Portland, OR, you must protect it with the right insurance. Here’s why you need contractors’ insurance and how it can protect your company and a good name in your industry.

What is Contractors Insurance?

Contractors insurance is a policy that protects contractors and their businesses against claims made by customers, employees, or third parties. The procedure typically includes general liability, Workers’ compensation, commercial auto, and property insurance. For contractors in Portland, OR, having contractors’ insurance is critical to protecting their business.

Why Do Contractors Need Insurance?

Contractors engage in high-risk activities that expose them and their businesses to lawsuits or damages. Without contractors’ insurance, you’ll be liable for any injuries or property damage from your work. This can lead to significant financial losses, lawsuits, or bankruptcy. By having this coverage, you’ll have peace of mind knowing that you’re protected against these risks.

How Can Contractors Insurance Protect Your Business?

Contractors insurance can protect your business in several ways. General liability insurance covers bodily injury, property damage, and advertising injury claims. Workers’ compensation insurance covers any injuries your employees sustain while working. Commercial auto insurance covers the cost of damages to your vehicles and any damages resulting from an accident. Property insurance protects against damage or loss of property, including your tools and equipment.

Contact Einstein Insurance Today

As an experienced insurance provider for businesses in Portland, OR, Einstein Insurance understands the specific risks that contractors face in their business. That’s why we offer comprehensive contractor insurance policies tailored to your business needs. Contact us today to learn how we can protect your business with contractors’ insurance.

Do I Need Contractors Insurance?

Contractors insurance will help protect your business against expensive repairs and expenses if something happens during a construction project. To protect your assets, your company must have a business insurance policy. 

It can be a sole proprietor or an unincorporated business. What’s important is that your business has a legal structure and an active policy to protect its assets. Do you’ve questions in Portland, OR, reach out to Einstein Insurance.

What Does a Contractors Insurance Entail 

You will have many different kinds of jobs to complete, and you may be working on a variety of different floors in your house. It is important to have contractor’s insurance to protect you in case something goes wrong with any of your projects. 

This can include things like faulty workmanship, accidents, and even damage from the weather. It is important to have contractor’s insurance that covers large and small jobs and covers you for a variety of different work sites. 

Some of them are high risk and some of them are low risk. You have to decide which type of contractor you want to work with and take the right coverage to protect yourself. You don’t need the insurance for all contractors. It depends on the risk. 

Low-risk contractors can be hired without contractors insurance. You can also have different types of contractors insurance depending on the type of contract you have. 

There may be legal requirements that the contractor must meet, such as having a licence to do the work or being registered with the relevant authority. 

If you have any doubts about the contractor’s credentials, it is best to check with the licensing department in the state where the work will be done. Contractors insurance covers you on: 

  • Claims protection
  • Employees protection
  • Paying legal costs

Contact Us Today

Contractors insurance protects you against financial losses from unforeseen circumstances, such as injuries to workers on-site and damaged property. It also protects you against claims that other contractors make against your firm. 

It can also help protect your employees if something happens during a job. For similar inquiries in the greater Portland, OR area, consult Einstein Insurance.

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