Contractors Insurance in Tulsa, OK
Contractors insurance may help contractors and construction professionals prevent financial losses due to accidents, injuries, property damage or legal claims. In many cases, it is essential to meet legal requirements and secure client contracts.
Who Benefits From Contractors Insurance 
Contractors insurance may cover various players in the construction industry, including:
- General contractors overseeing large construction projects
- Subcontractors in trades such as electrical, plumbing or HVAC
- Independent construction professionals and small business owners
- Remodelers, carpenters and specialty contractors
Essential Coverage for Contractors
Contractors’ policies may include various types of coverage, such as the following:
- General liability insurance may cover expenses related to third-party claims of bodily injury, property damage or personal and advertising injury.
- Workers’ compensation insurance may provide medical and wage benefits to employees who are injured or become ill as a result of their work.
- Commercial auto insurance may cover company drivers and vehicles used for business purposes.
- Tools and equipment insurance may pay to repair or replace tools and machinery in case of loss, damage or theft.
- Builders risk insurance may provide financial protection for buildings under construction against risks like fire, vandalism or severe weather.
- Professional liability insurance may cover legal costs and settlements following claims of negligence or mistakes that result in financial losses for clients.
Factors to Consider Before Getting a Policy
Before purchasing insurance, contractors need to consider the specific risks involved in their projects, such as working at heights, operating heavy equipment or handling hazardous materials. Coverage should align with the nature and scale of the work. Some contracts mandate specific types of insurance, like general liability or workers’ compensation. It’s also important to verify that subcontractors are adequately insured to avoid liability issues. An agent from Royal Insurance can help assess exposures and recommend suitable coverage.
Get Covered Today
Royal Insurance offers personalized insurance solutions to Oklahoma contractors. Contact us today to speak with an agent or to request a quote.