What Type of Coverage Is Available Through Independent Contractor Insurance In Austin, TX?

by | Feb 17, 2016 | Insurance

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In Texas, independent contractors need insurance coverage to protect against unpredictable occurrences. These events could present damaging effects and serious financial losses. For this reason, the contractor should examine insurance possibilities that apply to their small business. Independent Contractor Insurance in Austin TX provides adequate protection for a multitude of probabilities.

Common Liability Coverage

The most common liabilities that affect small businesses are contractual issues, premises liabilities, and product’s liabilities. These possibilities could lead to a lawsuit that generates a high payout for the company owner. General liability insurance provides coverage for these probabilities. Additionally, an agent could assist the owner in identifying possible liabilities and reducing the risk of these events.

Home Office Coverage

Contractors who work from home need coverage for their home office. While their homeowner’s insurance policy covers a portion of these probabilities, it doesn’t protect them fully. This area is considered office space under these policies. The contractor should evaluate their policy completely to determine if they need added coverage for this portion of their home.

On the other hand, if they use an off-site office space for their business, they need business coverage. These policies pay for damage sustained under defined events. They may include natural disasters, fires, and criminal actions. The amount of coverage for these events is defined in the policy.

Protection for Equipment

Equipment used by the contractor requires coverage as well. While machinery comes with a warranty, these options don’t protect them fully under all circumstances. The contractor needs coverage for extensive damage and theft.

For contractors who operate a home-based business, they need coverage for their equipment. This includes computers, printers, and internet-based services. Their homeowner’s insurance policy won’t cover business-related equipment even if they use them for recreational purposes.

In Texas, contractors need adequate coverage to protect themselves and their business. They face liabilities each day that they offer services or products to the public. These liabilities may also relate to potential injuries that could occur when clients visit their location. Small business owners who need Independent Contractor Insurance in Austin TX should contact Perdue Insurance Group to learn more about these policies and the probabilities that they cover today.

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