How to Start Your General Contracting Business and Adequately Insure It

So you’ve read our blog post HOW TO START YOUR GENERAL CONTRACTING BUSINESS AND ADEQUATELY INSURE IT and you’re ready to take the next step to understanding exactly what insurance looks like for your business. We’re here to help!

PEKIN INSURANCE offers policies that are tailored to your needs with a variety of coverage and endorsement options.

Let’s review what some of those options are!

  1. Building and Personal Property

    The building component of this coverage protects your building from a total or a partial loss.  This could be a very important coverage if a building is owned to store tools, equipment, or supplies.

    The Personal Property component would cover items that are on or within 100 feet of the premises. This coverage could consist of movable items (tools), or items that would remain on premises (furniture, electronics, etc.). When items leave the premises, this would no longer qualify as personal property. This would now be Inland Marine coverage, which we will touch upon later.

  2. General Liability

    General Liability coverage is a vital piece to a contractor’s insurance coverage. The coverage can protect the insured against liability claims for bodily injury and property damage arising out of premises, operations, products, and completed operations, as well as advertising and personal injury liability.

    This coverage really provides a financial safety net for business owners. One trip and fall incident in a business without general liability coverage could result in that business closing their doors due to financial hardship.

  3. Inland Marine/IMPAC

    IMPAC is an Inland Marine coverage specifically designed for contractors that offers many different types of coverages.

    To drill down a little deeper, it has four main coverages.

1. Unscheduled Equipment are tools that are individually valued up to $2,500.

2. Scheduled Equipment are items valued over $2,500 that we list on the policy.

3. Leased and Rented Equipment covers damage to equipment the contractor does not own.

4. Installation Coverage covers items while they are in the process of being installed. For example, an interior remodeler leaves cabinets outside and goes to lunch. In that time, it rains and ruins the cabinets. There would be coverage there.

The IMPAC also provides coverages for things like computers, valuable papers, and accounts receivable.

Here at Beck Insurance Agency, we know that starting a business is an incredibly rewarding process. We also know that it can be challenging and complicated at times. Let us help you simplify the confusing parts and approach your commercial insurance with confidence! To learn more about your Commercial coverage options, contact Beck Insurance Agency today!  

For contractors business insurance and more in the Archbold, Wauseon, Whitehouse, Waterville, Defiance, Napoleon, Delta, Maumee, and surrounding areas contact Beck Insurance Agency at 419-446-2777, email us at, or click here to submit a request.

Originating content found here.

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    Quality insurance coverage at a price you can afford.

    Request a Free Quote