Contractors’ insurance protects against the financial risks present at all stages of business operations.
When it comes to the building industry, it’s important to know that risks come in all forms and sizes. Like a common criminal, common construction risks — safety hazards, equipment mishaps, theft, delays, and labor shortages — are repeat offenders that occur regularly. Risk can be avoided, transferred, mitigated, or accepted but never disregarded. The consequences can be the difference between a hefty profit, barely breaking even, or significant financial losses.
The most common way to protect your business against unforeseen risk is by transferring it to a contractors’ insurance company that will assume the policyholder’s exposure in exchange for a policy premium to mitigate the financial loss caused by property damage or bodily injury claims.
Delaware contractors, subcontractors, and specialty trades are encouraged to visit their city, county, or state licensing authority to verify license, certification, and insurance prerequisites before the commencement of operations.
With low rates that will fit any budget, our licensed specialists are on standby to provide the necessary steps to transfer construction risks to a highly-rated insurance program.
Delaware contractors’ general liability — also known as Delaware contractors’ business liability insurance — is an integral component of a formidable commercial insurance package.
A Delaware contractors’ general liability policy protects your business assets in the event of a loss due to a broad range of incidents, such as third-person injury and property damage.
Delaware contractors’ general liability insurance provides coverage for:
Delaware contractors’ workers’ compensation is a benefits system for workers injured or who become ill with an occupational disease while working.
Delaware contractors’ workers’ comp insurance provides benefits for:
Employers failing to comply with Delaware contractors’ workers’ comp regulations may be subject to fines and penalties.
Please visit the Delaware Department of Labor to verify specific employer rules and insurance prerequisites.
Delaware contractors’ surety bonds are similar to a business line of credit protecting the contracted consumer of a bid if obligations are not complete.
A Delaware contractor bond is a financial guarantee that the bondholder will adhere to city, county, or state laws and regulations.
Residential, commercial, and government construction projects (public works) may require a Delaware contractors’ surety bond before bidding on a project.
Delaware contractors’ commercial auto insurance covers company vehicles involved in an accident.
A Delaware contractor commercial auto policy provides coverage for business vehicles damaged from theft or vandalism.
Delaware contractors’ business auto insurance covers:
A Delaware contractors’ inland marine policy provides coverage for hand tools, equipment, and product material at a job site, in transit, or stored at an off-site location.
Delaware contractor inland marine insurance provides “installation” risk coverage.
Delaware contractors’ tool and equipment insurance will reimburse your company for such common perils: