How do you know if you need contractors insurance in Maryland?

Simply put, if you’re in the contracting business, you need it.  True, there are some specific times when you need it more than others.  Some clients, for instance, will require it as a precondition of hiring you, and if you’re working as a sub-contractor as part of a larger project, you’ll probably be required to carry it before you can join the team, but the reality is that every day your business is unprotected, you’re putting it (and yourself) at very real risk.

A well-designed contractors insurance policy in Maryland can safeguard your business in a variety of ways.  Here are just a few of the possibilities:

  1. Faulty workmanship claims – You may find this type of coverage listed as “Contractors Errors and Omissions Insurance,” depending on the company.  Whatever the name, the concept is the same.  It provides protection against claims that you were negligent in the performance of your work, or did a substandard job.  It also includes provisions that protect against suits brought against you alleging that you went overbudget, or did not complete the work in a timely manner.  A very important aspect of contractors insurance in Maryland.
  2. Property Damage claims – If you’ve been in the contracting business for any length of time, then you know that accidents happen, and sometimes a client will (rightly or wrongly) allege that during the conduct of your business, you damaged their property.  This type of insurance guards against such claims.
  3. Bodily Injury claims – This is another very common component of contractors insurance in Maryland.  Contracting is a dangerous business, and no matter how careful you and your crew are, accidents are bound to happen.  Even if they don’t happen to you, a site visitor (or your client) could be injured while you’re working, and this type of insurance will protect you against such claims.
  4. Completed Products claims – This is a big one, though sadly, too often overlooked.  If you perform work, and then there’s an accident later that is in any way connected to whatever you were working on, the client could come after you for damages.  Say, for example, you did some plumbing work, and a few months later, a pipe breaks and floods your former client’s house.  If a case could be made that the work you did contributed to the failure that came later, you could be held liable.

So which provisions do you need, and how much coverage is adequate to protect your business?  Those are questions without easy answers, which is why you need a seasoned expert on your side.  

We have the expertise you’re looking for.  Give us a call today and let’s review the coverage you have now, and see if there are any gaps that might threaten your business.