Ann Arbor Insurance Michigan

Contractor Insurance Ann Arbor, MI – Involved in a great number of construction projects. Take care to protect your company by adding general liability coverage.

Should I Buy Ann Arbor Insurance For Contractors?

Whether you’re a one-man operation or have a large team of employees, contractor’s insurance Ann Arbor is an important investment. Here are four key reasons to purchase a policy:

1. To protect your business from third-party lawsuits. No matter how careful you are, accidents happen. If someone sues your business after being injured on the job or property damage occurs, having contractor’s general liability insurance can help cover the costs of legal fees and settlements.

2. To win new clients. Many companies will only hire contractors who carry contractor liability insurance. This type of insurance shows potential clients that you’re serious about your business and willing to take responsibility for any accidents that may occur.

3. To save money in the long run. The cost of defending a lawsuit can be tens of thousands of dollars, even if you eventually win the case. By investing in contractor’s liability insurance, you can avoid this potentially catastrophic expense.

4. To the peace of mind. Knowing you’re protected from costly lawsuits gives you the peace of mind to focus on running your business and growing your client base without worrying about being blindsided by a lawsuit down the road.

Contractors Liability Coverage Ann Arbor Michigan

A Contractor Liability Insurance Ann Arbor, MI will cover your business for third-party bodily injury and property damage arising out of your business operations. In addition, the policy will provide coverage for first-party damages to your own property, as well as medical payments for minor injuries sustained by employees on the job site. The policy will also protect you in the event that you are sued for libel, slander, or false advertising.

What Does a Contractor Liability Insurance Ann Arbor MI Not Cover?

If you’re a contractor in Ann Arbor, MI, you’re probably well aware of the importance of carrying general liability insurance Ann Arbor MI. After all, this type of insurance can protect you from a variety of costly liabilities, including those related to third-party bodily injury and property damage.

But what about the things that your contractor liability insurance Ann Arbor doesn’t cover? Here’s a look at four common exclusions:

1. Contractual Liability: If you’re found liable for damages due to a contract that you’ve entered into, your general liability insurance policy will likely not provide coverage. That’s why it’s so important to carefully review any contracts before signing them.

2. Professional Liability: Also known as “errors and omissions” coverage, professional liability insurance protects against claims arising from alleged professional negligence. This type of coverage is typically excluded from contractor general liability policies, so if you need it, you’ll need to purchase a separate policy.

3. Employee-Related Claims: If an employee injures someone or damages property while working on behalf of your business, their actions are not covered by your general liability policy. Instead, these types of claims would fall under your workers’ compensation insurance policy (if you have one).

4. Intentional Acts: Finally, it’s important to note that any damages resulting from an intentional act are not covered by general liability insurance. So, if you or one of your employees intentionally harms someone or something

Cost Of Contractor Liability Insurance Ann Arbor, Michigan?

There’s no one-size-fits-all answer to this question, as the amount you’ll pay for Contractor Liability Insurance in Ann Arbor, MI will depend on a number of factors, including the size and scope of your business, your industry, your claims history, and more. However, we can give you some ballpark figures to give you an idea of what you might be looking at.

For a small contracting business with annual revenue of less than $1 million, premiums for Contractor Liability Insurance Ann Arbor, MI can start as low as $500 per year. For a medium-sized contracting business with annual revenue between $1 million and $5 million, premiums can range from $1,000 to $2,500 per year. And for a large contracting business with annual revenue exceeding $5 million, premiums can be as high as $5,000 per year or more.

Again, these are just rough estimates – the actual amount you’ll pay for Contractor Liability Insurance in Ann Arbor MI will depend on a number of factors unique to your business. To get the most accurate quote possible, we recommend working with an experienced independent insurance broker who can shop around and compare rates from multiple insurance companies.

Additional Insurance

There are a few alternatives to insurance for contractors in Ann Arbor, MI. One option is Business Insurance Ann Arbor MI. This means that you would set aside money each month to cover any potential liabilities. Another option is to purchase an insurance policy with a high deductible. This means that you would pay more out of pocket if something happened, but your monthly premiums would be lower. Finally, you could choose to create an LLC or another business entity. This would protect your personal assets from being seized if you were sued.

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Other Policies That Might Be Handy for Your Business

There are a variety of other policies that might be handy for your business, including:

  1. Commercial Auto Insurance Ann Arbor MI: This insurance protects your business vehicles from damage or theft.
  2. Business Insurance Ann Arbor MI: This insurance covers your lost income if your business is interrupted due to a covered event, such as a natural disaster.
  3. Builders Risk Ann Arbor MI: This insurance protects your business from claims arising from injuries or damage caused by the course of construction.
  4. Professional Liability Insurance Ann Arbor MI: This insurance protects your business from claims arising from errors or omissions in your professional services.
  5. Workers’ Compensation Insurance MI: This insurance covers medical expenses and lost wages for employees who are injured on the job.