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Ohio Contractors Insurance​

Ellerhorst Russell Insurance Agency works with general contractors to understand their needs and make sure they’re properly protected.

We know the ins and outs of contractors insurance.

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Top Contractor Insurance Agency In Northeast Ohio

Contractor Insurance: Everything You Need to Know

When you start a business, you need to think about the kind of insurance you will need to protect yourself and your employees. One type of insurance you may need is contractor insurance. Contractor insurance protects you from liability if someone is injured while working on your behalf. It also covers your equipment and tools if they are damaged or stolen.

There are many different types of contractor insurance, so you will need to talk to an insurance agent to figure out which type is right for your business. But overall, there are overlaps between the types of coverage that are offered. Here are some of the things you should know about contractor insurance!

Our team at Ellerhorst Russell Insurance is here to make sure we understand your insurance needs, and help get you the proper business owners policy for your exact situation.

Ellerhorst Contractor Insurance Agency

As a business owner, you are responsible for the safety of your employees, customers, and anyone else who may be on your property. You need to have the proper insurance in place to protect yourself from any potential liabilities.

At Ellerhorst Russel Insurance LLC, we understand the unique risks that contractors face. We have over 100 years of experience in providing insurance for contractors in Ohio. We offer a variety of insurance products to meet the specific needs of your business.

An image is shown of a contractor using a jackhammer on a concrete surface. The contractor is visible in the image, dressed in work clothes and protective gear such as gloves, goggles, and earplugs. The jackhammer is visible in the image, with its metal head striking the concrete surface with force. The scene depicts the potential hazards and challenges of construction work, as well as the importance of proper equipment, protective gear, and safe practices to avoid injury. The image also suggests the skill and experience required to operate heavy machinery such as a jackhammer, highlighting the professionalism and expertise of the contractor.

Top Products We Offer To Contractors

  • General Liability
  • Workers’ Compensation
  • Commercial Auto
  • Tool Coverage
  • Surety Bonds
This coverage is more than just peace of mind. It’s the law. In the state of Ohio, all business owners with employees are required to have workers’ compensation insurance. So don’t risk your business by being underinsured. Get a quote today from the top contractor insurance agency in Northeast Ohio. We’ll make sure you have the coverage you need at a price that fits your budget.

The Basics Of Contractors Insurance

Contractors insurance typically includes coverage for general liability, workers compensation, commercial auto, tools, and surety bonds. It helps protect contractors from financial losses due to accidents, property damage, and lawsuits that may arise during the course of their work.

List Of The Most Common Contractors Insurance Coverage

General Liability
Workers Comp
Commercial Auto
Tool Coverage
Surety Bonds
An image is shown of a man cutting a two by four with a chainsaw, holding the board down with his foot. The man is dressed in work clothes and protective gear such as gloves, goggles, and earplugs. The chainsaw is visible in the image, with its blade cutting through the wood. The man's use of his foot to hold down the board suggests the potential hazards of using a chainsaw and the importance of taking safety precautions. The scene depicts the potential dangers of using power tools and the importance of proper training, protective gear, and safe practices to avoid injury.

General Liability

What is it? This policy covers third-party bodily injury and property damage that occurs as a result of your business operations.

For example, if one of your employees accidentally knocks over a vase while working in a client’s home, your general liability policy would cover the cost of replacing the vase.

Why do you need it? General liability insurance is important because it protects your business from lawsuits that could arise from accidents or injuries that occur as a result of your business operations.

An image is shown of a contractor holding a green tool box containing a tool. The contractor is visible in the image, dressed in work clothes and protective gear such as gloves and a hard hat. The green tool box is visible in the contractor's hands, suggesting its use in a construction or renovation project. The specific tool inside the box is not visible, but the image suggests the importance of having the right tools on hand to complete tasks efficiently and safely. The scene depicts the potential hazards and challenges of construction work, as well as the importance of proper equipment and protective gear to minimize the risk of injury or harm.

Workers Compensation Insurance

What is it? This policy covers medical expenses and lost wages for employees who are injured while working.

For example, if an employee slips and falls while working and sustains a concussion, workers comp would cover their medical expenses and a portion of their lost wages.

Why do you need it? Workers compensation is important because it protects your business from being sued by an employee who is injured while working. It also helps to ensure that your employees can receive the medical care they need in the event of an injury.

An image is shown of a contractor holding a green tool box containing a tool. The contractor is visible in the image, dressed in work clothes and protective gear such as gloves and a hard hat. The green tool box is visible in the contractor's hands, suggesting its use in a construction or renovation project. The specific tool inside the box is not visible, but the image suggests the importance of having the right tools on hand to complete tasks efficiently and safely. The scene depicts the potential hazards and challenges of construction work, as well as the importance of proper equipment and protective gear to minimize the risk of injury or harm.
An image is shown of a man standing next to a dump truck, holding a walkie-talkie. The man is dressed in work clothes and protective gear, suggesting a role in construction or industrial work. The dump truck is visible in the background, with its bed lifted and ready to unload materials. The man's use of the walkie-talkie suggests communication with other workers on the job site, coordinating activities and ensuring safety. The scene depicts the potential hazards and challenges of industrial work, as well as the importance of clear communication and teamwork to complete tasks efficiently and safely.

Commercial Auto Insurance

What is it? This policy is commonly known as business auto insurance and covers vehicles that are used for business purposes, such as delivery trucks or company cars.

For example, if one of your employees is involved in a car accident while driving a company car, your commercial auto insurance policy would cover the cost of repairing the car.

Why do you need it? Commercial auto insurance is important because it protects your business from the financial losses that could occur as a result of a car accident.

An image is shown of a contractor working in the attic of a house with no roof. The contractor is visible in the image, wearing work clothes and protective gear such as a hard hat and safety glasses. The attic space is open to the sky, with no roof or ceiling, allowing natural light to illuminate the work area. Tools and building materials are visible in the attic, suggesting a construction or renovation project is underway. The scene depicts the potential hazards and challenges of construction work, such as working at heights and in exposed environments. The contractor's protective gear and careful attention to safety suggest a commitment to completing the project with diligence and professionalism.

Tool Coverage Insurance

What is it? This policy covers damage to tools and equipment that are used for your business.

For example, if your company rents out tools and equipment to customers, this policy would cover the cost of repairing or replacing any damaged tools.

Why do you need it? Tool coverage is important because it protects your business from the cost of repairing or replacing damaged tools and equipment.

An image is shown of a contractor working in the attic of a house with no roof. The contractor is visible in the image, wearing work clothes and protective gear such as a hard hat and safety glasses. The attic space is open to the sky, with no roof or ceiling, allowing natural light to illuminate the work area. Tools and building materials are visible in the attic, suggesting a construction or renovation project is underway. The scene depicts the potential hazards and challenges of construction work, such as working at heights and in exposed environments. The contractor's protective gear and careful attention to safety suggest a commitment to completing the project with diligence and professionalism.
An image is shown of a contractor holding a piece of rebar. The contractor is visible in the image, dressed in work clothes and protective gear such as gloves and a hard hat. The rebar is visible in the contractor's hands, suggesting its use in a construction or renovation project. The scene depicts the potential hazards and challenges of construction work, as well as the importance of proper tools and materials to complete tasks efficiently and safely. The contractor's protective gear suggests a commitment to completing the project with diligence and professionalism, while also minimizing the risk of injury or harm.

Surety Bonds

What is it? A surety bond is a financial guarantee that is usually required by the government or a regulatory body to obtain a professional license or permit.

For example, if you want to obtain a license to sell insurance in your state, you may be required to post a surety bond as a guarantee that you will abide by the state’s insurance laws.

Why do you need it? Surety bonds protect the government or regulatory body from losses that may occur as a result of your business activities. For example, if you fail to pay taxes or follow regulations, the government can make a claim against your bond to recoup losses.

Additional Coverage For Contractors

When you buy insurance for a contractor business, make sure you are covered for risks that are particular to contractor work. These Might Include:
Owners & Contractors Protective Liability Coverage (OCP)​
This protects you from third-party claims of bodily injury or property damage arising out of your work on a job site. When you’re bidding on a job, the owner may require you to have an OCP policy in place before work can begin.
Additional Insured
Many contracts will require that you name the owner or general contractor as an “additional insured” on your policy. This means that they’ll be protected under your policy in the event of a claim.
Waiver Of Subrogation
This provision protects the owner or general contractor in the event that they’re sued by one of your employees. Without a waiver of subrogation, your insurance company might try to recover the money they paid out on a claim from the owner or general contractor.
Crime-Building Service Contractors
This protects you from losses due to theft, vandalism, or other crimes committed by your employees while they’re working on a job site. For example, if one of your employees steals tools from a job site, this coverage would pay for the replacement of the stolen tools.
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Ellerhorst Russell Insurance Agency will work with you closely to understand your needs and make sure you’re properly protected.
Contractor Insurance Continued
Cyber Liability
This protects you from losses due to data breaches, cybercrime, or other internet-related risks. For example, if you store your client’s credit card information on your computer and your computer is hacked, this coverage would pay for the cost of replacing the stolen credit card information.
Employment Practices Liability (EPL) Coverage
This protects you from lawsuits filed by employees alleging discrimination, sexual harassment, or other employment-related claims. The EPL coverage would pay for your legal defense costs as well as any damages that you’re ordered to pay. Plus, it can provide coverage for things like counseling services for your employees.
Employment Dishonesty
This protects you from losses due to theft or fraud committed by your employees. For example, if an employee steals money from your business, this coverage would pay for the loss. When choosing an employee dishonesty policy, make sure to get a policy that covers your specific business risks.
Commercial Umbrella
This provides additional liability coverage above and beyond the limits of your other policies. For example, if you’re sued for $2 million and your general liability policy only covers up to $1 million, the commercial umbrella policy would pay for the additional $1 million. When choosing a commercial umbrella policy, make sure to get a policy that covers your specific business risks.
Commercial Property Insurance
This protects your business property from damage or theft. For example, if your office is burglarized, this coverage would pay to replace the stolen property. Plus, if your office is damaged by a fire, this coverage would pay to repair the damage.
Inland Marine
Marine insurance is a type of property insurance that covers property that’s transported by land, air, or water. For example, if you’re a contractor who transports tools and equipment to job sites, this coverage would protect your property in the event of an accident.

Your Trusted Northeast Ohio Contractor Insurance Provider

At Ellerhorst Russell Insurance Agency, we’re here for you and your Business. We make sure you fully understand all the options available to protect your business and home, all while ensuring you get the best deal for your budget.

Our goal is to give you the extra piece of mind you need, and we’re with you every step of the way.

Please reach out to one of our local agents to learn more about our policies, and get a free estimate from one of our farming insurance experts.

How Do I Get A Quote?

Ellerhorst Russell Insurance Agency will work with you closely to understand your needs and make sure you’re properly protected.

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Do You Have The Right Contractor Insurance?

At Ellerhorst Russell Insurance Agency, We Take The Time To Make Sure You Have The Coverage You Need

You may have contractors insurance currently, but are you 100% positive that it is the coverage your need? We often see horror stories firsthand of someone not having the coverage they need or finding out that a local contractor has been paying thousands more than they needed to with unnecessary insurance.

The right policy will make sure you are covered where it is most important and help protect you against the unknown. But, what if you have gaps and are missing protection? Well, that is where our team comes in and makes sure we take the time to understand your exact situation and get you the coverage you need.

If you have any questions about your current coverage, the best thing you can do is reach our to one of our agents at Ellerhorst Russell Insurance LLC. We are experts when it comes to Contractors insurance and can make sure you have all the coverage you need.

Contract Insurance Frequently Asked Questions

When it comes to the types of insurance a contractor should hold, it really comes down to two different forms. Contractors should typically have some form of professional indemnity and public liability insurance. Keep in mind that both of these insurance coverages need to be valid as of the first day of work. BUT, if you are curious what type of coverage you will need for your exact situation, give our team a call and we will be happy to point you in the right direction.

Business insurance for contractors in Ohio will generally be about $13-$25 per month for a general contractor business. That would be considered basic coverage. So depending on what you need, that cost may fluctuate.
So you want to know what types of insurance you need as an independent contractor? Well, if you are a consultant or an independent contractor, the top forms of coverage are traditionally; public liability, professional indemnity, worker’s compensation, business and/or cyber insurance coverage.
If you are looking to be a handyman in the state of Ohio looking to find out if you need any special licenses. The quick answer is no. The state of Ohio does not require a specific handyman license to perform minor repair work on residential property. Being said, you need to obtain a contractor specialty license if you work in a specialized trade such as an electrician, HVAC repair, plumber, Refrigeration, and hydronic.
If you are a builder or working in construction, there are multiple coverages that you should have. Our team will be able to walk you through the specifics. But, the most common coverages you would need when undertaking construction work would be; general liability, workers’ compensation, and builders risk. Again, those are just three of many you should consider when taking on a construction job.
Yes! every entrepreneur and small business owner needs to make sure they are responsible and ready to deal with unexpected events and/or accidents if they were to occur. This is why savvy business people will purchase professional liability insurance. The same would apply to a specific employer earning a wage or salary.
What Is Business Owner’s Policy (BOP) Insurance? A Business Owner’s Policy (BOP) combines business property and business liability insurance into one business insurance policy. BOP insurance helps cover your business from claims resulting from things like fire, theft or other covered disasters.
No, a separate business commercial auto policy needs to be in place for proper coverage when using a vehicle for business purposes.
Surety bonds can range in price depending on the bid/job size. $1,000-$100,000 is common but can go up from there. The cost of this bond is a percentage of the bond face value based on the credit score of the applicant. This percentage is generally between 1%-10%. Example a $10,000 bond with a 5% premium costs $500.

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