Complete our Iowa General Contractors Insurance quick quote form or call us at 952-469-0425.
As a general contractor, you need to carry a lot of responsibilities and need a comprehensive general contractors insurance policy. You have to undertake various projects that range from building schools to hospitals restaurants to bridges. Not only do you need to make sure that all the demands of the clients are met, but at the same time also secure the building permits.
General contractors need to manage the construction of new building projects as well as renovate the existing structures. The General contractors purchase the building materials, hire labor, and obtain services and equipment needed to complete the project.
General contractors generally undertake commercial buildings or single-family homes such as offices, factories, stadiums, or restaurants. They also supervise construction projects such as retaining walls, towers, or bridges.
Most general contractors have permanent employees and subcontract the remaining tasks such as plumbing, heating, or electrical to subcontractors. Therefore, general contractors are provided with a lot of responsibility. Knowing that it is also important for you to invest in the right general contractor’s insurance in Iowa, that’s where we come in.
General contractors can have accidents, make miscalculations, and can even cause substantial property damage along with bodily injury. Moreover, you are also responsible for the work of your subcontractors. If they cause an issue or are uninsured, you can be brought into the claim. Moreover, clients who experience negligence in the work can sue you legally. So, your business must have comprehensive Iowa General Contractors Insurance. General contractor’s insurance protects your business from the most costly liabilities and damages.
Contact Iowa Contractors Insurance today at 952-469-0425 to get the best general contractors Insurance Quotes at a low price.
Iowa General Contractors Insurance: What Makes us Different?
Not only does your insurance plan need to be comprehensive, but it also needs to be low cost. We offer insurance plans for all types of Iowa contractors at our independent insurance agency. Our agents help you shop from multiple top-rated insurance companies and match you with the best fit for your growing general contracting business.
General Contractors Insurance Iowa: Types of Insurance we Provide
1. Commercial General Liability Insurance
General liability insurance covers your business or your workers should they be sued or found liable for the following types of claims:
- Damage to other people’s properties
- Bodily injuries and deaths
- Advertising and personal injury
Commercial general liability insurance will also cover the cost of the damages and losses incurred in the event. In addition, this insurance can cover the cost of your legal defense and medical fees. General contractors need protection for your premises, products, operations, and completed operations.
2. Commercial Property Insurance
Commercial property insurance helps cover your business property if it encounters a disaster. This insurance will cover the loss or damage of the following should a fire or other covered peril arise:
- Other people’s properties
- Business personal property & equipment
- Furniture and fixtures
- Building or structure
3. Workers’ Compensation Insurance
Workers’ compensation insurance is required by Iowa law in most cases. If you own a general contracting company, it is only fair to provide your employees with complete workers’ compensation. Your employees could be injured on the job. So it is good to reassure your employees that they and their families are financially secure if an accident occurs on-site. Iowa workers compensation insurance offers several benefits, such as:
- Income benefits
- Medical benefits
- Burial benefits
- Death benefits
- Vocational rehabilitation benefits
4. Equipment and Tools Insurance
Equipment and tool insurance covers the cost of these things if they are stolen or destroyed. Though some commercial general liability may provide a small amount of coverage, it’s always best to take inventory and ensure you are adequately protected.
5. Commercial Auto
Should any of your general contracting, commercial vehicles meet an accident while in transit, commercial auto insurance to cover the following incidents:
- Liabilities resulting from damage to another person’s property, injury, or death
- Damage from collision
- Damage from non-collision (e.g., vandalism, theft, and other perils)
- Personal or medical payments of the insured
- Injury or property damage caused by hit-and-run motorists or the uninsured
Contact us for General Contractors Insurance in Des Moines, Cedar Rapids, Davenport, Sioux City & Iowa City
Simply complete our quick quote form, or call us at 952-469-0425 today and we will create a carpenters insurance plan for you.
Frequently Ask Question: General Contractors Insurance Iowa
Q: What insurance do I need to work as a contractor?
Answer: For most general insurance contractors, the most important form of coverage will be contractor liability insurance or general liability insurance. It will protect you if you cause property damage or personal injury to someone else. In some cases, insurance will be optional, but you may find that it is mandatory depending on your occupation.
Q: What does general liability insurance cover for contractors?
Answer: General liability insurance covers the most common business risks such as customer injury, customer property damage, and advertising injury. General liability insurance can protect your small business from the high costs of lawsuits and help you qualify for leases and contracts.
Q: Why does a general contractor need insurance?
Answer: An accident at a construction site could mean disaster for your business. General business insurance helps cover the expenses related to worksite injuries, stolen equipment, and the other risks that you face every day.
Q: How much insurance should my contractor have?
Answer: Most third parties require a contractor with a general liability policy and looking for at least $1 million per occurrence (per claim) and a $2 million aggregate (per year) coverage limit to get on the job. For this reason, we advise all general contractors to carry at least a $1 million / $2 million limits coverage.
Q: What type of insurance do subcontractors need?
Answer: Typically, there are no subcontractor insurance requirements other than those of your general contractor, employer the state, or city. In many cases, you won’t be legally required to have general liability insurance or any other kind of coverage.