Contractors’ insurance protects against the financial risks present at all stages of business operations.
All construction projects have some level of risk. Risk can be avoided, transferred, mitigated, or accepted, but not disregarded. Safety hazards, increased material costs, labor shortages, and theft are unavoidable operational risks affecting a project’s overall outcome. Operating with insufficient or no insurance is a risk that should never be accepted nor disregarded, as the consequences of an unexpected loss can send a small construction business to the brink of insolvency overnight.
A formidable commercial insurance package will protect against bodily injury, property damage, or third-party legal action.
Contractors of all trades are encouraged to visit the Virginia Department of Professional and Occupational Regulation to verify license and insurance prerequisites before commencing operations.
With low premiums that fit any budget, our licensed specialists are standing by to assist Virginia contractors with obtaining a contractors’ insurance package written specifically for your trade operations.
A Virginia contractors’ general liability policy is the foundation of a well-structured commercial insurance portfolio.
Virginia contractors’ general liability policy protects your business organization from third-party injury and property damage claims.
Virginia contractors’ general liability insurance provides essential coverage for:
Virginia contractors’ workers’ comp is a no-fault benefits program for employees who suffer on-the-job injuries and diseases due to a compensable claim under the Virginia Workers’ Compensation Act.
Virginia contractors’ workers’ compensation provides:
Failing to carry Virginia contractors’ workers’ comp insurance may result in heavy fines and severe penalties.
Please visit the Virginia Workers’ Compensation Commission to verify Virginia contractors’ workers’ compensation for specific employer rules, regulations, and insurance prerequisites.
Contractors may be required to post a Virginia contractor bond as a license or permit prerequisite by local municipalities, counties, or the state government.
A Virginia contractor license bond protects your clientele from illegal business activities or a licensing authority that the principal will comply with the terms of the license.
A Virginia contractors’ surety bond may be required to bid on a large construction project or public works.
Virginia contractors’ commercial auto insurance provides coverage for your business vehicles and trailers when damaged in an accident, stolen, or vandalized.
A Virginia contractor commercial auto policy safeguards your business vehicles if you or an insured driver are liable for an at-fault accident.
Virginia contractor commercial auto insurance covers:
Virginia contractor inland marine insurance provides broad coverage for business property, such as tools, products, equipment, and material, while in transit over land or stored at an off-site location.
“Installation” or “builders” risks, vandalism, damaged leased or rented equipment coverage can be provided via Virginia contractor inland marine insurance.
A Virginia contractors’ inland marine policy — also known as Virginia contractor tool and equipment insurance — reimburses business owners for such common perils: