Top Coverage Considerations for Independent Contractors
- Errors and omissions: Contractors who provide consulting and advice, such as accountants, financial planners, interior designers and landscape architects, need to be concerned about liability risks due to losses a client may experience as a result of the contractor’s recommendations.
- Bodily injury and property damage: Contractors who work with heavy machinery and tools, such as plumbers, re-modelers and electricians, need to be concerned with mishaps due to hazards such as power tools, defective machinery and compressed gas.
- Product and liquor liabilities: Independent contractors who serve food and alcohol at functions need to be concerned with potential injuries and illnesses due to food and alcohol served.
- Medical and disability: As a contractor, you are most likely not on a group plan to cover your own injuries, which can leave you exposed to a loss of income risk if you become ill or injured.
Who Needs Contractors Insurance?
There are many types of independent contractors who all need independent contractors liability insurance and other coverage to match their specific risks. Some of the professionals that need contractors insurance include:
- Independent construction contractors
- Plumbers, carpenters, electricians and painters
- Repair people
- House and carpet cleaners
- Freelance writers, editors and graphic designers
- Independent hair stylists, and salon professionals
- Horse or dog trainers