Finding contractor insurance can be confusing. It is stressful to sort through the different types of coverages, the conditions, the red tape, and the fine print in all the different policies. You can quickly find yourself fighting off a major stress headache. Spending money on insurance you may not use is not a thrilling experience. It is a necessary one, however. Imagine you decide not to get insurance and then, let’s say, someone, is injured on the construction site. You can find yourself facing the possibility of losing everything you have worked to build rather quickly if you are not insured. Here is what you should know when selecting your general contractor insurance provider.

Should I choose a Company or Agent?

It is not unusual for an individual not to know who their representative from the insurance company is. Bigger companies tend to sell their insurance using different agents. Companies provide insurance. Agents find insurance that fits the needs you have. Insurance companies tend to work with agents. Companies decide the premium, provide a copy of your coverage, take care of billing, change your policy, and pay the claims that are made. It should be noted that when you have a policy this is not a binding contract. You need to read the policy so you know what is covered and choose coverage accordingly.

History

When you find several companies you want to explore, you should research them. Their reputation with other customers is important. You need to learn how long the business has been running and where they provide insurance. If you are in a state they do not cover you can find yourself paying for coverage you cannot use. You also want to explore their values, their strengths, and if they provide the type of coverage you are interested in. If you find a company with no negative reviews be wary. People are generally more likely to leave reviews when they are unsatisfied than when they are happy

Coverage.

One of the biggest factors in choosing the best insurance company is what they offer. This means you should know what the risks are associated with the work you do and the type of coverage you need. Knowing this allows you to ensure a company can meet your needs. If they are not, then you should find another company that can provide the level of coverage you need to protect yourself and your business.

Price

Price is not always the deciding factor with insurance. You want to make sure that you are getting a combination of a wide range of coverage and price. Pricing varies among carriers because not all coverage is equal. If you are paying a smaller price, chances are you have less coverage. This means that they pay less when something happens. Lower prices may also indicate that the agency is new. This is something to discuss with the agencies you are interested in working with.