Protecting your company is a top priority as a business owner. That’s why you need to ensure you have the right insurance. Contractor’s insurance protects businesses that provide services to other companies or individuals.

Who Needs Contractor’s Insurance?

If you’re a contractor in Bloomfield, NJ, there are a few things you need to know about this insurance. First, all businesses that provide services to other businesses or individuals need this insurance. This includes companies that offer home improvement, landscaping, plumbing, and electrical work.

Second, contractor insurance protects your business from liability if one of your employees is injured while on the job. It also covers any damage your employees may cause to someone else’s property while working.

Third, this insurance can protect you from financial losses if your business has to stop work because of an accident or a natural disaster. It can also help you pay for any legal fees associated with a lawsuit.

An E.S.T.I.R. Inc. agent can help you find the right contractor’s insurance policy for your business. Contact us today to get started.

What Does Contractor’s Insurance Cover?

Now that you know who needs contractor insurance, let’s look at what this insurance policy covers. The plan can cover a variety of things, including:

• Damage to property
• Bodily injury
• Personal and advertising injury
• Medical expenses

The amount of coverage you need will depend on the type of business you have and the services you provide.

How Much Does Contractor’s Insurance Cost?

The cost of contractor insurance will vary depending on the size of your business and the coverage you need. However, the amount is small compared to the protection it offers.

To get a quote for contractor insurance, contact E.S.T.I.R. Inc. We’ll work with you to find the right policy for your business.

Commercial insurance is a vital part of any business. It protects your company from liability and helps to ensure that you can continue operating in the event of an accident or disaster. However, what happens if you don’t have commercial insurance? This blog post will discuss the consequences of not having commercial insurance from a reputable company such as E.S.T.I.R. Inc.

Losing Money

One of the most significant consequences of not having commercial insurance is that you could lose a lot of money. If you are involved in an accident or your business is damaged, you’ll be responsible for paying for the repairs yourself. This can be extremely costly and may even put you out of business.

Going Out of Business

In some cases, the expenses associated with an accident or lawsuit can be so high that they force your company out of business. This is especially true for small businesses, which often don’t have the same financial resources as larger companies. Even if you survive the initial costs, an accident’s long-term effects can devastate your business.

Personal Liability

If your business is sued, you could be liable for the damages. This means that your assets, such as your home or savings, could be at risk. In some cases, you may even be required to sell your assets to pay for the damages. This can significantly impact your life, both financially and emotionally.

Higher Insurance Rates

If you decide to purchase commercial insurance after an accident or lawsuit, you can expect your rates to be much higher than they would have if you had purchased insurance beforehand. This is because you’ll now be considered a high-risk customer by most Bloomfield, NJ companies.

Fines and Jail Time

In some states, not having commercial insurance is a crime. This means you could be fined or even jailed for operating your business without the proper coverage. While the penalties vary from state to state, they can be severe.

Conclusion

As you can see, not having commercial insurance can seriously harm your business. If you are operating without insurance, we strongly recommend that you contact a Bloomfield, NJ insurance agent to discuss your options. At E.S.T.I.R. Inc., we can help you find the right coverage for your business. Contact us today to learn more.