Washington State is an exciting place to do business, and for professionals and contractors, there is ample opportunity for success and prosperity. Whatever your chosen industry, one of the first steps to take in order to ensure the survival of your business is to find the right Washington contractors insurance. Without it, you may be setting yourself up for unnecessary hurdles in the future. It sounds simple to insure yourself and your business, but there are many things to consider before choosing a Washington contractors insurance policy. Selecting the cheapest one is not always the right approach – spending time to understand what kind of insurance you actually need, and how much coverage you want can in turn save you more time and money down the line. Insurance can vary from industry to industry, and without the proper research, you may end up with unnecessary coverage – or worse – not have proper coverage at all. Working with a trusted professional, such as the insurance specialists at Ararat Insurance Services can get you started quickly. Read about the basic kinds of Washington contractors insurance that is available to you, and consult with an expert to assess your situation and find you the best policies and the best rates.
General Liability Insurance
It is the most basic kind of coverage your business will require. This is ideal for many general claims, from damage to property, injury, as well as loss of life. General liability is required in the state of Washington, so if you intend to do any business here, you must come prepared with this.
It can also be very useful when situations of illness or injury arise on the job. This kind of insurance covers ongoing medical costs, rehabilitation costs, and even cover the majority of lost wages. We all know that getting sick or hurt is a risk, and common enough that being prepared with insurance is a smart move. Worker’s compensation will also cover the expenses related to an accidental death.
It is a smart purchase for contractors that are at risk of sustaining a long-term injury. While worker’s compensation is primarily for medical expenses, disability insurance will protect you from the financial strain of lost wages.
Commercial Auto and Truck Insurance
It is a clear advantage for businesses that rely on the use of cars, trucks, and other modes of transport. You may feel in control of your business site, but being on the road presents more hazards. Choosing this can offer you more peace of mind in the event of an accident.
Inland Marine Insurance
It is one step up from having commercial auto insurance, and specifically for those who must transport or ship valuable equipment and materials. If your business requires long distance transport, then this is a type of Washington contractors insurance you should consider.
It is something many builders and real estate companies will deal with. When certain jobs involve a complex network of partners, contractors, and sub contractors, this type of insurance will cover instances where the work is unsatisfactory or even incomplete. Many packages are available from major Washington contractors insurance providers, which include a combination of the coverage types listed above. Clearly, not every type of insurance is something that your business needs – and finding the right insurance plan that is specifically tailored to you can be an extensive process. Learn more about Washington contractors insurance from a specialist. Call us at (206) 248-5615 for more information and to receive a free quote.