If you’re a contractor in Ohio, understanding construction insurance is essential for protecting your company and ensuring compliance with state regulations. Ohio Construction Insurance (contractor insurance) encompasses various policies designed to safeguard you from financial losses due to accidents, injuries, or legal claims arising from your work. In this article, we’ll explore the key components of Ohio construction insurance, including contractor liability insurance and contractor license bonds.

Contractor Liability Insurance

What Is Contractor Liability Insurance?

Contractor liability insurance, also called general liability insurance (CGL), protects your business from financial loss due to unforeseen claims of property damage, bodily injury, or personal and advertising injury caused by your operations or services.

Why Is It Important for Ohio Contractors?

• Financial Protection: Covers legal fees, medical expenses, and damages if a claim arises from your work.
• Client Confidence: Demonstrates professionalism and assures clients you’re prepared for unforeseen incidents.
• Compliance: Many clients and local municipalities in Ohio require contractors to carry liability insurance.

Contractor License Bonds

What Are Contractor License Bonds?

A contractor license bond is a type of surety bond that acts as a financial guarantee between you and the state of Ohio. It ensures you’ll adhere to state laws, regulations, and ethical business practices.

Why Are They Important?

• Legal Requirement: Certain trades in Ohio are required to obtain a license bond.
• Consumer Protection: Provides a safety net for clients if contractual obligations aren’t met.
• Business Credibility: Enhances your reputation and trustworthiness with potential clients and partners.

Bond Amounts

• Typical Range: Bond amounts usually range from $5,000 to $25,000.
• Specific Requirements: Check with the Ohio Construction Industry Licensing Board (OCILB) for exact bond amounts related to your trade.

Trades We Serve

From handymen to project managers, we provide insurance solutions for a wide range of trades. Whether you’re just starting out or managing large projects, we’ve got you covered. Our services include, but are not limited to, the following Ohio-licensed trades:

• Electrical Contractors
• HVAC Contractors
• Hydronics Contractors
• Plumbing Contractors
• Refrigeration Contractors

No matter your specialty, we understand the unique risks associated with your trade and offer tailored insurance and bonding solutions to meet your needs.

Our Service Areas

At Fairbanks Insurance Brokers, we provide comprehensive contractors’ insurance solutions across the entire state of Ohio—from state line to state line. We proudly serve contractors in all regions, including:

• Columbus
• Cleveland
• Cincinnati
• Toledo
• Akron
• Dayton
• Parma
• Canton
• Youngstown
• Lorain

And their surrounding areas! No matter where your business operates within Ohio, we’re here to support your insurance and bonding needs.

Protect Your Business with Ohio Construction Insurance

Investing in the right construction insurance policies is crucial for the success and longevity of your contracting business. It not only protects your financial interests but also builds trust with project owners and ensures compliance with legal requirements. More importantly, it provides you with the peace of mind that you’re covered in case of any unforeseen incidents.

We’ve Got You Covered, Ohio!

Ready to secure your contractors’ insurance and contractor license bonds?

Call us today at (866) 805-3800 to get started.

Fairbanks Insurance Brokers – Ohio’s Ultimate Source for Discount Contractors’ Insurance and Surety Bonds!