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Contractors Insurance in Chalfont and Collegeville, PA

Contractors get the job done—but take on a lot of risk while doing it. The Bureau of Labor Statistics reports that about 4% of all workers in the industry suffer injuries or illnesses—and the resulting costs add up. This is compounded by the many other problems that can occur at a given work site. Due to the many risk factors contractors routinely face in their work, good insurance policies become essential to any successful contractor's operation.

You should also consider how you're going to run your business. For example, running it as a Limited Liability Company (LLC) can help insulate you from cost overruns and avoid putting your personal assets at risk if a claim larger than your policy is filed. Our agents can help you determine the likelihood of hazardous situations to your business and how best to prepare for them.

What a Contractors Insurance Package Covers

Contractor's insurance covers problems typically associated with the risks of construction and renovation projects, including risks to your employees, your work site, and anyone or any equipment involved. Most of these policies are a combination of other policies, often including:

  • A Business Owner's Policy
  • General Liability Insurance
  • Worker's Compensation
  • Commercial Vehicle Insurance

From there, what coverage is needed depends on the work that you do. Contractors in different industries often have different insurance needs (and occasionally different requirements, depending on local legislation). Bucks Montgomery Insurance Group, LLC can help you determine which forms of insurance are required for your company and ensure that you're never left exposed.

Contractors Equipment Insurance

Getting a job done takes more than human expertise and a keen eye for detail—you need to have the right tools for the job, or it's probably not going to be finished. However, if something goes wrong and your equipment is damaged or destroyed, you stand to lose a lot of money. This is particularly true if your company operates any larger pieces of equipment (bulldozers, etc.), which are sometimes omitted from normal coverage.

Bucks Montgomery Insurance Group, LLC's goal is to mitigate your risks as much as possible, and the more we know about your equipment, the better the policy we can offer. On request, we can let you know about how certain pieces of equipment are classified, the associated level of risk, and what kind of reimbursements you can expect if something goes wrong.

Contractor Vehicle Insurance

If you're one of the growing number of contractors who use vehicles during a job—not just to get to and from a worksite—then you may need an additional commercial vehicle policy that covers the vehicle(s) you use.

If you don't use your vehicle for commercial purposes, you may be able to lower your monthly premiums by having this coverage removed from your policy. The choice is ultimately yours, but if you're having trouble deciding, our agents can help you figure out whether or not your use of a given vehicle qualifies as a commercial purpose.

 

1. "About the Specialty Trade Contractors Subsector." U.S. Bureau of Labor Statistics. Accessed April 20, 2016. http://www.bls.gov/iag/tgs/iag238.htm.

2. "Sole Proprietorships vs. LLCs." Nolo.com. Accessed April 28, 2016. http://www.nolo.com/legal-encyclopedia/sole-proprietorships-vs-llcs.html.

3. Utschig, LeRoy. "Contractor's Equipment." Rough Notes. Accessed April 20, 2016. http://www.roughnotes.com/rnmagazine/1997/sept97/09p98.htm.

Our Location

Bucks Montgomery Insurance Group, LLC

107 Winding Way
Telford, PA 18969
Main office: 215-337-2972
Fax: 215-721-5934

Office Hours:

Mon: 8:00 AM - 5:00 PM
Tues: 8:00 AM - 5:00 PM
Wed: 8:00 AM - 5:00 PM
Thurs: 8:00 AM - 5:00 PM
Fri: 8:00 AM - 5:00 PM
Sat: By Appointment
Sun: Closed

Our Providers

Testimonials

Bill Pellak and the claims processor were excellent to deal with regarding our recent claim with Travelers. The claim agent explained things carefully to make sure we understood the process.
- Jane & Arthur Weinberg
Honestly, there is nothing more Travelers could have done to make my experience any better. Everyone I spoke to was very kind and caring and also very knowledgeable. My claim was handled so quickly and efficiently. I am so thankful that we chose Travelers as our insurance company. The customer service is outstanding!
- Mario and Angela Santos
I appreciate your frequent communications to keep us updated on our insurance. When we have questions or there are changes to our policies, you are quick to answer by telephone and follow up with an e-mail or by mail. You have given us excellent service over the years. You and your staff are personable too, which seems something lost these days in the business world.
- Nick Salamone
I have been a client/customer of Bill Pellak and the BMI group for over two decades. Bill ,Peg and Kathleen make an awesome team and they meet all of my insurance needs. Each time I purchase a new car, or another vehicle for my family they are always available to make the transition smooth and painless. They and their staff are courteous and professional. I whole heartedly recommend the BMI group.
- Marguerite Nocchi, Esquire