Central Oregon's Leading Insurance Advocate

Steve Thill Insurance

(541) 408-0971

Contact Steve Directly

(541) 408-0971

Contact Steve Directly

Bend Contractor Insurance

Contractor’s Insurance

Whether you’re a contractor, subcontractor or independent tradesman in Oregon, you need to have a contractor’s insurance policy to protect your business against liability. We at AIC Insurance Agency work with insurers to provide general contractor insurance policies tailored to your specific risks. Managing risk effectively can mean higher profits, lower operating costs and a capital that works smarter for your small business.

Who Needs This Type of Policy?

The primary reason for purchasing a contractor’s policy is to protect your business from devastating financial debts or even closure, resulting from claims that come from your normal business operations. As a contractor or small business owner, your business has equal legal obligations and liability exposures as larger firms. In the unfortunate case that you’re held responsible for damaging client property or causing bodily harm, having a policy will help you cover the cost of damages including potential legal defenses.

Further, while you aren’t legally required to carry general liability coverage in Oregon, property owners or project developers may require you to have the coverage in order to be qualified to participate in their bidding process. It enables both the employer and yourself to thrive, with the awareness that you have protection behind you on every job, every day.

What Does It Mean for a Contractor to Be Bonded & Insured?

When a contractor is bonded, it means the business has purchased a surety bond to cover professional negligence claims. Unlike insurance which offers protection for the company, bonding protects a property owner to a certain amount of liability protection, in case the contractor fails to complete a job as stated in the contract. A bond, therefore, offers a level of security or safety net from unethical, or poor business practices.

Why Does a Contractor Need a Surety Bond?

As a contractor, whether in construction, plumbing or the IT service industry, insuring and bonding your small business offers many advantages. Essentially, it’s a guarantee to prospective clients that you run a legitimate business. Your clients want to be assured that they won’t lose money when working with your business, and a surety bond is the best way to guarantee performance under a contract.

Beyond inspiring confidence in clients, surety bonds will be needed in certain cases to comply with client requirements. Many clients only want to work with contractors who are licensed, insured and bonded.

Contractor Insurance in Central Oregon

Finding the right insurance for your business can be confusing. The good news is that an independent insurance agent can tailor the perfect coverage by combining specific policies that offer comprehensive risk protection. Since I don’t work with a single carrier, I will shop around and bring multiple policy options to the table.

Liability claims can happen to any contractor business. Should such an issue arise, you want to be sure you are fully protected. Let me help you get the coverage your business needs at a great price. Feel free to contact me today to get started.

Steve Thill Insurance

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