Paper Contractors Insurance in Wisconsin
What is Paper Contractors Insurance?
Paper contractor’s insurance is general liability insurance. Paper contractor are commonly referred to as general contractors and may do residential home or commercial building or remodeling. It is a very important part of your paper contractor insurance program and normally the first policy you will buy.
It is the primary or core insurance policy for your Wisconsin paper contractors business. General liability insurance covers bodily injury and property damage claims presented by third parties. There are several different limits of liability coverage, like $300,000/$600,000, $500,000/$1,000,000 and $1,000,000/$2,000,000, which is most common and highly recommended. Many paper contractors / general contractors will carry a commercial umbrella which goes over and above the general liability and some other coverages.
There can also be a property damage deductible. This means you would pay the first say, $1,000, $2,500 or $5,000 if you were to be damaged something “other than” what you are were working on. This should be taken into considered before purchasing your paper contractors liability insurance policy. General liability insurance covers your premises, products, operations and completed operation (once your work is done). Voluntary property damage coverage should also be considered, which can provide limited protection for your work. As well as professional liability or errors and omissions insurance. Feel free to click here if a more detailed definition on general liability insurance:
How much does Paper Contractor Insurance cost in Wisconsin?
Paper contractor’s insurance is not as much as you might think. Being an independent insurance agency and independent insurance advisors, we believe shopping multiple Wisconsin insurance companies (for maximum savings). Also, working with an experienced contractor’s / small business insurance agent is key to finding low cost rates for residential or commercial paper contractors business insurance. Wisconsin paper contractors might expect to pay $1,200 or more with one active owner. If you are doing roofing with would be more. The insurance is rated using payroll, a specific rate is assigned for one owner and then employee payroll can be added on. So, basically the more owners and payroll, the more the insurance premium each year. If you have been in business awhile, then having a good claims history (loss runs/loss history) can have a positive or negative effect on your paper contractor’s business insurance premiums. Insurance companies also audit your operations/books, and this keeps the rates fair for everyone. They are looking for sales, payroll, number of owners and a portion of your taxes in some cases.
Here are some tips on handling & purchasing Paper Contractor Insurance in Wisconsin?
- Do business with an agency that are contractor and small business insurance pros. Most agents certainly are wanting to sell you a paper contractor’s policy, but is it the right policy, best for your needs now and in the future? Our office specializes in contractor’s insurance and will help you make the best choice for your residential or commercial general contracting business. An experienced business insurance agent makes the difference.
- We offer you a choice in paper contractor business insurance companies. Working with multiple companies and shopping the market, offering you the best combination of price, coverage and claims service. Paper contractor insurance / general contracting general liability insurance can be difficult to find, especially if you are new in business. Many insurance companies want to see 3 years in business and 3 years of good claims history in writing from your prior company.
- Only do business with insured sub-contractors. Wisconsin insurance companies don’t want you work with uninsured sub-contractors (perhaps carpenters/electricians, plumbers…). The rate for an insured sub is 1/10th the rate of an uninsured one. Why are they rated in the first place? You can be easily drawn into a claim because you are the general contractor, that’s what attorneys do. Defense cost is a common expense.
- Have a written contract signed and certificates of insurance in hand for all sub-contractors BEFORE they start working or are allowed on the contracting job. The contract should include a hold harmless agreement and specific insurance requirements. Some of the typical insurance requirements are: additional insured, waiver of subrogation, go going and completed operations, primary / non-contributory language, per project, commercial auto coverage, workers compensation coverage (even if you don’t have employees), a commercial umbrella policy, to name a few.
- Your paper contractor’s insurance agent should be familiar with the insurance audit process and even double check things for you, so you are not over charged.
- An experienced contractor insurance agent will help explain things, making it an easy and painless process. You don’t handle insurance policies every day, but we do and have your best interests at heart.
Let us compare your Wisconsin Paper Contractor Business Insurance with multiple companies and help you choose wisely.
Our goal is help you protect your WI paper contractor design business, then we save you time and some money. We do this by shopping multiple Wisconsin contractor insurance companies to find you the very best protection and very low-cost rates. By bring multiple options to the table, giving you a choice in insurance plans. Helping you customize a residential or commercial paper contractor’s business insurance program that is not only cost effective, but right for your growing and successful Wisconsin business.
Contact Us for a Quote
We are ready to discuss your residential or commercial paper contractor’s insurance and know we can help. You know the WI paper contractor business and we know Wisconsin contractor’s insurance.
If you are looking for paper contractor’s insurance in Wisconsin, you came to the right place. We cover paper contractors statewide! Read our BIO, then just pick up your phone or complete our quick quote form to the right. We promise to make it easy, fast and extremely affordable.