Orlando, Fla.— Are you an events coordinator? Working as an independent contractor has its perks, as we know. Between the flexible hours, the ability to determine which areas to serve (whether to stay local or seek more business expansion), and the scope of your services or keeping a small operation versus going the whole nine yards. All these are decisions that you and your team of counselors will make throughout the time in your experience as an entrepreneur.

When you are a general contractor, you should seek protection for yourself as well as you protect your finances, should you be found liable for damages or injury to another person while on the job, in which case you will have to respond for all the costs involved. Florida contractors are like any business. You need property and general liability insurance to minimize the basic financial risks of running a business. Additionally, contractor insurance includes coverage designed for specific industry risks.

You must consider an insurance coverage that protects you well according to the type of job you, and your employees perform.

For example, if you work as a consultant, a coverage for errors and omissions, liability, or maybe both sound like a good idea. There is a wide variety of contractor insurance options. Here are common coverage's for independent contractors.

Bodily injury and property damage: This coverage is for contractors who work with heavy machinery and need to be prepared for accidents due to power tools and other hazards.

Professional liability: For contractors who provide consulting and advice, this coverage can protect you from liability risks due to losses a client may experience. It protects your business’s finances if a client accuses you of errors, whether due to mistake or negligence. Professional liability insurance protects individuals and companies from assuming the full cost of defending a lawsuit that claims negligence of the individual or business. A claim of negligence, malpractice or misrepresentation is not covered under a general liability insurance policy, which makes professional liability insurance crucial for those who provide a service or advice for a fee.

Commercial vehicle: Any vehicles owned by your business must adhere to state auto insurance laws. You can also protect your vehicles from various damages. It’s important that your commercial auto insurance adequately addresses your specific operating risks and liabilities at all times be it a delivery van, a pick up truck, or a company car.

Workers compensation: Florida Independent contractors may or may not need workers compensation depending on the amount of employees your company has at the time. This coverage compensates employees for medical expenses and lost wages after an on-the-job injury.  Florida workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. It eliminates the need for litigation, creates an easier process for the employee, and helps control the financial risks for employers. Many states limit the amount an injured employee can recover from an employer.

At Garzor Insurance our experienced professionals are dedicated to providing commercial insurance coverage for businesses in Florida as well as Georgia, Texas, and now many other states across the U.S.A. If you have questions about business insurance, or any other commercial insurance aspects, please do not hesitate to visit us online at Garzor Insurance, or you may also call us directly at (321) 206-8035. 

Mariana Morante

Licensed Insurance Agent