Insurance Requirements for General Contractors

General contractors in Oklahoma may deal with varying liability, contractual and operational risks. Main Street Insurance LLC offers insurance options that align with your business and project needs.

Essential Coverage to Consider

Standard contractors insurance policies often include the following coverage options:

• General liability insurance: Often the foundation of a contractor’s coverage program, it can cover third-party claims for bodily injury and property damage from job site operations.
• Workers’ compensation insurance: Oklahoma employers are generally required to carry this coverage. It may provide medical benefits and wage replacement for employees injured on the job.
• Builders risk insurance: Construction projects can be vulnerable to weather, fire and theft. This coverage may help cover the structure and materials during the build.
• Commercial umbrella insurance: For larger or higher-risk projects, standard liability limits may not be sufficient. An umbrella policy can add coverage once those limits are exhausted.

Meeting Contractual and Legal Obligations

In addition to state mandates, project owners and municipalities in Sapulpa area may require proof of insurance before a contract is signed or a permit is issued. Contractors can review these obligations with their insurance provider to assess whether coverage aligns with project requirements.

Coverage Gaps to Watch For

Your policy may not cover the following:

• Equipment breakdown: Standard policies may not cover mechanical or electrical failure of tools and machinery.
• Professional liability: Design-related errors or workmanship disputes may require a separate errors and omissions policy.
• Pollution liability: Job sites involving hazardous materials may need additional pollution coverage.
• Commercial auto: Business vehicle use may not be covered under a personal auto policy.
• Inland marine/equipment floater: Tools and equipment in transit or stored off-site may fall outside standard property coverage.

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Contact Main Street Insurance LLC today to explore your insurance options and request a free custom quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.