Contractors In New Jersey Now Have a Reason to Celebrate Thanks to Metroplus Contractor's Insurance Agency- Contractors Insurance Program. http://www.cheap-contractors-insurance.com
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Newark, NJ (August 20 , 2016) - Contractors all over New Jersey are hailing Metroplus Contractor's Insurance Agency - Contractors insurance Program as the best renovated Insurance Program for contractors . One of the main challenges for most contractors is finding affordable insurance especially new contractors knocking down this wall has been challenging. Metroplus Contractors Insurance Agency has put together a panel of insurance companies offering competitive prices and coverage's, when contractors bundle their policies under one roof they save. Included are a number of premium finance options to spread the costs and reduce monthly payments.
Metroplus Contractors Insurance Agency has constructed a multi level package to meet the needs of small artisan contractors. Artisan Commercial Auto Insurance, Artisan General Liability, Workers Compensation and Builders Risks. visit http://www.cheap-contractors-insurance.com for more information on the program.
Most contractors will only buy and keep their insurance policy active to full fill a particular job requirement. What they don't realize is that in the long run it ends up costing them more to cancel a policy when the job is done and re-write a new policy when they get a new job, because built into the cost of each new policy are administrative fees and these fees can increase the more frequently your policy has to be re-written. By spreading out your monthly payment it makes it easier and affordable to keep your policy active . Contractors should also keep in mind that accidents or liability can crop up long after the job is done. So if you are serious about your profession, you want to make sure you are always covered.
There are generally seven (7) categories of Insurance that applies to Contractors with coverage's raging from split limits to combine single limits specific coverage's to blanket coverage's
1. Commercial Auto Insurance: Personal auto policies normally do not cover vehicles used commercially ,Policy limits are increased to $1,000,000 Combined Single Limit, General Liability policies do not cover vehicle related claims, Commercial jobs normally require the $1,000,000 level of coverage, Additional coverage levels such as Hired & Non-Owned available, Liability protection covers medical, physical damage, lost wages, pain & suffering to other parties in an accident in which you are at fault, Collision cover physical damage from an at-fault accident to your auto, less the deductible Higher Uninsured/Underinsured motorist limits make up for any shortage in the other person’s liability amounts to cover damages to you, Comprehensive limits to repair physical damage from losses not related to a collision. Medical payments paid out regardless of fault to cover expenses pending determination of fault Most policies do not cover personal items, such as tools, equipment damaged or stolen from a vehicle. Separate coverage is available.
2. General Liability Insurance: Contractors Liability Insurance is actually a form of Commercial General Liability (CGL)insurance tailored for the construction contractors market. CGL provides insurance for your company in the event you cause property damage and/or bodily injury to a third party.
3. Workers Compensation Insurance: Under the Workers' Compensation Law, most individuals providing services to a for-profit business will be deemed an employee of that business and therefore must be covered by the employer for workers' compensation insurance. This applies unless those services are specifically excluded as employment under the WCL. For workers' compensation insurance purposes, the term employee generally includes day labor, leased employees, borrowed employees, part-time employees, unpaid volunteers (including family members) and most subcontractors, specific exclusions listed under Identifying an Independent Contractor.
4. Inland Marine Insurance: Contractors need to be sure their tools; machinery and equipment are protected if damaged or stolen. An Inland Marine Floater / Contractors Equipment policy is an all risk policy that covers equipment and machinery not licensed as an over the road vehicle. Contractor’s equipment coverage is not restricted to a location, so the coverage applies to equipment at job sites, other stored locations and while in transit.
5. Builders Risks Insurance: a special type of property insurance which indemnifies against damage to buildings while they are under construction. Builder's risk insurance is coverage that protects a person's or organization's insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause.
6. Umbrella Policy Insurance: Umbrella insurance refers to liability insurance that is in excess of specified other policies and also potentially primary insurance for losses not covered by the other policies. When an insured is liable to someone, the insured's primary insurance policies pay up to their limits, and any additional amount is paid by the umbrella policy (up to the limit of the umbrella policy).
7. Surety Bonds: A surety bond or surety is a promise by a surety or guarantor to pay one party (the oblige) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the oblige against losses resulting from the principal's failure to meet the obligation
Summary:
Metroplus Contractors Insurance Agency specializes in providing inexpensive auto insurance, home insurance, contractors About Metroplus Contractors Insurance Agency: you can visit our website for more information. http://www.cheap-contractors-insurance.com
Metroplus Contractors Insurance Agency is one the premier financial organizations in New Jersey that offers a wide array of services ranging from auto, home, umbrella insurance, commercial property insurance, tax services and other financial services.
Media Contact:
Metroplus Contractors Insurance Agency
1423 McCarter Highway
Newark, NJ 07104
Newark: 973.732.3794
Belleville: 973.759.8291
