Five Types of Insurance for Contractors to Consider

Five Types of Insurance for Contractors to Consider


Contractors get the freedom to work when and where they choose, but that doesn’t give them freedom from risk. While there is an almost endless array of insurance policies you can cover yourself with as a contractor in order to protect yourself from these risks, following are four basic types of coverages that all contractors should consider having.


Professional liability: Professionals have liabilities that are specific to their profession as well as the medical and financial risk they expose their clients to. Professional liability insurance protects contractors from these risks; examples include malpractice insurance and errors and omission coverage.


General liability: As a contractor, your liabilities are different from those of a shop owner, but that doesn’t mean that you have none. In fact, your liabilities could be numerous and may vary greatly depending on the line of work you are in. A general liability policy is the best way to ensure a broad-based coverage for much of your business liability risk. Builders risk, roofing contractor insurance and other industry-specific liability plans are also available and should be considered in order to achieve full protection.


Click to read the full article. Learn more about Maryland contractor insurance including types of coverage and factors that affect your insurance premium. Contact us to get free auto insurance quote at (301) 899-6117.

Should You Buy Rental Car Insurance

Sometimes it can feel as though your entire working life adds up to just one single life-defining event each year—Vacation. And that vacation, while important for reminding you that there is a reason you work so hard all year round, must be planned so that it offers you the most bang for the buck that you can afford.

When you budget your vacation and the cost of your rental car, it is easy to forget to factor in the cost of rental car insurance. But unless you want to come home from your vacation with a car repair bill that rivals the cost of a first-class vacation overseas, then you should probably consider buying rental car insurance or finding out whether you already have sufficient protection through other means.

Does your auto insurance policy cover it?

The first thing you can do is contact your insurance agent to find out what coverage you have for rental cars through your existing auto insurance policy. You want to make sure that you have something to protect yourself in the event of an accident, theft, and vandalism. This coverage should not just include protection for damage to the car, but also property damage and bodily injury as well.

Does your credit card offer any insurance?

Next, you can check with your credit card company. Many credit cards offer special protections for their clients when they use the credit card to pay for their rental car fees. Call the credit card company that you plan to use while you are on vacation and see if they have this protection. When you do, make sure you also ask about any special protocol you must observe in order to have the insurance coverage.

Cover All Drivers

Finally, you need to make sure that any other person you plan to have drive the rental car has the same coverages, because your personal insurance and credit card protection might not extend to another individual driver who is not named on your credit card or auto insurance policy.

By coordinating the benefits offered by both your credit card and your auto insurance policy, you may be able to avoid the expense of rental car insurance. But if there are any gaps in the coverages you get between the credit card and auto policy, make sure you try to fill it with the insurance offered by the rental car company so that you can spend your vacation relaxing and enjoying your time rather than worrying about potential damages and expenses.

Be sure to learn more about your own Maryland auto insurance from Jones & Associates Insurance Agency today!

What Can Affect Your Homeowners Insurance Premium?

Your individualized quote for homeowners insurance is not found on any kind of static chart that matches your age, home value and deductible information to a set price. Homeowners insurance quotes are specifically developed for each applicant and are based on the very personal details of your lifestyle and living space. Here’s a taste of what some of the factors involved in your premium pricing include:

The age of your home: Older homes are less fortified against natural disasters than newer homes, and are also more expensive to repair. Newer homes are built to new safety standards and with more durable materials. What does this mean to you? That if you have an older home, you can expect a more expensive homeowners insurance quote.

The construction of your home: Wood frame houses are susceptible to fire in a way that concrete block and brick homes are not. Concrete homes can also stand up to harsher environmental elements. That makes wood frame houses more expensive to insure.
Learn more about your Clinton MD Home Insurance from Jones & Associates Insurance Agency today.