You're preparing a bid for a major remodeling project, and you've checked and rechecked for competitive figures on the drywall, lumber and other materials you'll need. But when's the last time you checked around for more competitive rates on your general contractors business insurance policies? You may find that shopping around and comparing policies and premiums from different insurers can save you hundreds or even thousands of dollars on general contractors liability insurance and other types of business insurance.
Choosing General Contractors Business Insurance Coverages
Before you can begin to compare general contractors business insurance you need to understand exactly what coverages you need for your particular business situation. Take an objective look at your business to evaluate the risks you face before you decide on the appropriate general contractors liability insurance policy, business property insurance, commercial vehicle insurance and workers comp.
Suppose your primary line of business is demolition work. Your general contractors liability insurance policy should probably include some coverage for more specialized situations that you could encounter, like asbestos in the ceiling, lead paint on the walls or mold that you uncover behind a bathroom wall. A general contractor that specializes in infrastructure work, on the other hand, might want to spend more premium dollars on some pollution riders for his general contractors liability insurance, since the earth moving that his company would be doing would be more likely to impact nearby streams or wells.
Your cost for general contractors business insurance will also depend, to a great extent, on the size of your company and the size of the jobs that you do. For business property insurance, for example, you'll need to have a good handle on the cost and age of the equipment that you own. How large is your office space, and what kind of equipment do you store there?
Looking at commercial vehicle insurance? You'll need to know how many company-owned vehicles are used in your business, and the driving records of the people who are operating them,
For workers comp, you'll need to have an accurate count on the number of people you employ. Has that number gone up or down over the past year?
These are the kind of questions that you'll need to answer when you're comparing rates on general contractors liability insurance and other general contactors business insurance as well.
Finding the Best Rates on General Contractors Business Insurance
If you're looking for good rates on your business insurance, ask yourself another question—do you want to do it the easy way? If the answer is yes, then go to netquote.com. Simply enter the information that you've gathered about your business on the netquote.com form, submit it and netquote.com will return quotes from several of the leading insurers in your area. Netquote.com makes your search for great insurance rates fast and effective—and helps you stay competitive so you can win that next bid.
See how much you could save today on your insurance. Get your free business insurance quotes today!