Contractors’ insurance protects against the financial risks present at all stages of business operations.
Construction is notorious for being an inherently dangerous industry where a simple mishap can have profound consequences on an uninsured business owner. Risks come in all shapes and sizes, with the most common — slip, trip, and fall hazards — being concealed below the chaos of a busy job site. Project delays, accelerated deadlines, change orders, and labor shortages can erode safety protocols to maintain schedules, leaving vulnerable business owners open to bodily injury or property damage claims.
The most common way to protect against construction risks is through a contractors’ insurance policy that will assume the policyholder’s defined exposure in exchange for a premium to mitigate the financial loss caused to third-party legal action.
New Jersey contractors, subcontractors, and trades specialists are encouraged to visit their state licensing authority to verify all registration, licensing, and insurance prerequisites before commencing operations.
With service you can count on, our commercial insurance experts are standing by to assist New Jersey contractors with an affordable insurance quote that fits your budget and business needs.
New Jersey contractors’ general liability is an important part of a strong commercial insurance package.
A New Jersey contractors’ business liability policy shields your company assets against financial loss due to a wide range of incidents, such as third-party bodily injury and property damage.
New Jersey contractors’ general liability insurance provides essential coverage for:
New Jersey contractors’ workers’ compensation benefits employees or their dependents for an injury or death arising out of and during the course of employment.
New Jersey contractors’ workers’ compensation provides:
Employers that fail to comply with New Jersey contractors’ workers’ compensation laws may be subject to fines and penalties.
Employers are encouraged to visit the New Jersey Department of Labor and Workforce to verify employer rules and insurance prerequisites.
Unlike a New Jersey contractors’ insurance policy, New Jersey contractor surety bonds are similar to a line of credit that ensure bondholders will comply with local and state laws and regulations of their trade.
A New Jersey contractor’s surety bond provides a financial guarantee to job owners that the principal will complete the project according to your bid and subcontractors or vendors paid upon completion.
Various residential, commercial, and government projects may require a New Jersey contractors’ surety bond to bid on a project.
New Jersey contractors’ commercial auto insurance — also known as a New Jersey contractor business auto policy — protects company vehicles if an insured driver is liable for an at-fault accident.
A New Jersey contractors’ commercial auto policy provides essential coverage for property damage and injuries when business vehicles are involved in an accident or damaged from theft or vandalism.
A New Jersey contractors’ commercial policy covers:
A New Jersey contractors’ inland marine policy — also known as New Jersey contractor tool and equipment insurance, covers hand tools, equipment, and product material at a job site, transported, or in an off-site storage location.
New Jersey contractor inland marine insurance provides “installation” risk coverage.
A New Jersey contractors’ tools and equipment policy protects your business property against such common perils: