General Contractor Insurance Rates
Texas Contractor Insurance
Texas contractor insurance covers billions of dollars in Texas property and salary annually. It can cover anything from the construction of mega-million dollar buildings down to pest control in the smallest apartment. The wide range of policy types and coverage options makes it necessary for the business owner to work with an agency that knows the ins and outs, so to speak, of Texas. In depth knowledge of this type is a must in order to make certain that the policy fits both the industry and the specific business model of the contractor seeking protection from liability, loss, and possible damages.
Texas contractor insurance falls into three main categories:
1. Commercial Auto Insurance
2. General Liability Insurance
3. Workers’ Compensation Insurance
Texas Auto Home Insurance helps the business owner quickly pinpoint which category of coverage will be most appropriate, and which policy type within that category will be most effective.
Our agents will tailor specific coverage options to meet the requirements of the Texas contractor and still maintain the integrity of the basic policy. We will work through A+ rated carriers in an effort to supply the very best Texas contractor insurance policy and rates that a given business needs. We make it a point not to over insure the contractor by focusing more on being specific than on being broad and general. With this process, we can offer our clients the best coverage and the best rate, simply by taking the necessary time to do the research and find the right resources to draw from.
In order to do this effectively, we have spent many years familiarizing ourselves with the details of the many types of work performed by Texas contractors. Insurance has to often cover one type of service to truly indemnify an organization. For example, many roofing contractors often do fence installation and repair. Many flooring contractors do sheet rock and painting along with tile and hardwood work. Proper classification of the business type and the many aspects of each service performed is essential to the proper underwriting of an affordable, dependable Texas contractor policy.
Service professionals such as pest control technicians and welders often only need coverage on their commercial vehicles. This is because they often work as subcontractors under a general contractor, who has already been insured by a general liability insurance policy that includes all subcontracted parties working on a particular project. Nevertheless, the vehicles used by a subcontracted Texas business still need their own insurance policies. Our agency has some of the most outstanding rates in the state on commercial vehicle insurance for Texas contractors, service professionals, and construction specialists. For example, we can provide 1,000,000 as a combined single limit liability for less than $700.00 for the entire year through A+ rated carriers.
Other forms of vehicles can be insured at the line-item level when we underwrite a Texas contractor insurance policy. Landscapers can itemize service trailers, equipment hauled on trailers, and indemnify against debris that may fall off trailers when working a project. Construction companies can obtain coverage for dump trucks, and flooring repair operations can insure their vans and equipment through Texas Auto Home Insurance.
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Is contractor’s general liability insurance available for hours worked rather than wages paid?
We are a small general contracting firm in West Virginia and have an opportunity to perform a long-term contract with a governmental agency which will require us to pay prevailing wage rates; approximately 20% higher than our normal wage rates. Is there a general liability company or is coverage available based upon hours worked or type of work performed, rather than wages paid? Our current coverage is based upon payroll and will take a substantial jump in premium with this contract. I realize that we could adjust our premium, but this contract prompted the question about hours worked.
They’re ALL based on payroll. OR, the amount subcontracted, which is labor plus materials.
You can’t do it based on hours worked.
BUT. See if there’s wrap-around coverage for this project. If there is, you need to keep seperated the hours for this project, vs. everything else you do, by employee, because then any gl and workers comp exposures would NOT be counted, at the audit. But ONLY if you keep the records showing exactly how much time John worked on this project, vs. every other project.
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