Call Us Today:
847.970.5524

Contractors Insurance in Mundelein, Libertyville & Vernon Hills, IL

Contractors get the job done—but take on a lot of risk while doing it. The Bureau of Labor Statistics reports that about 4% of all workers in the industry suffer injuries or illnesses—and the resulting costs add up. This is compounded by the many other problems that can occur at a given work site. Due to the many risk factors contractors routinely face in their work, good insurance policies become essential to any successful contractor's operation.

You should also consider how you're going to run your business. For example, running it as a Limited Liability Company (LLC) can help insulate you from cost overruns and avoid putting your personal assets at risk if a claim larger than your policy is filed. Our agents can help you determine the likelihood of hazardous situations to your business and how best to prepare for them.

What a Contractors Insurance Package Covers

Contractor's insurance covers problems typically associated with the risks of construction and renovation projects, including risks to your employees, your work site, and anyone or any equipment involved. Most of these policies are a combination of other policies, often including:

  • A Business Owner's Policy
  • General Liability Insurance
  • Worker's Compensation
  • Commercial Vehicle Insurance

From there, what coverage is needed depends on the work that you do. Contractors in different industries often have different insurance needs (and occasionally different requirements, depending on local legislation). Schultz Insurance Services Inc can help you determine which forms of insurance are required for your company and ensure that you're never left exposed.

Contractors Equipment Insurance

Getting a job done takes more than human expertise and a keen eye for detail—you need to have the right tools for the job, or it's probably not going to be finished. However, if something goes wrong and your equipment is damaged or destroyed, you stand to lose a lot of money. This is particularly true if your company operates any larger pieces of equipment (bulldozers, etc.), which are sometimes omitted from normal coverage.

Schultz Insurance Services Inc's goal is to mitigate your risks as much as possible, and the more we know about your equipment, the better the policy we can offer. On request, we can let you know about how certain pieces of equipment are classified, the associated level of risk, and what kind of reimbursements you can expect if something goes wrong.

Contractor Vehicle Insurance

If you're one of the growing number of contractors who use vehicles during a job—not just to get to and from a worksite—then you may need an additional commercial vehicle policy that covers the vehicle(s) you use.

If you don't use your vehicle for commercial purposes, you may be able to lower your monthly premiums by having this coverage removed from your policy. The choice is ultimately yours, but if you're having trouble deciding, our agents can help you figure out whether or not your use of a given vehicle qualifies as a commercial purpose.

 

1. "About the Specialty Trade Contractors Subsector." U.S. Bureau of Labor Statistics. Accessed April 20, 2016. http://www.bls.gov/iag/tgs/iag238.htm.

2. "Sole Proprietorships vs. LLCs." Nolo.com. Accessed April 28, 2016. http://www.nolo.com/legal-encyclopedia/sole-proprietorships-vs-llcs.html.

3. Utschig, LeRoy. "Contractor's Equipment." Rough Notes. Accessed April 20, 2016. http://www.roughnotes.com/rnmagazine/1997/sept97/09p98.htm.

Our Location

Schultz Insurance Services, Inc.

505 E. Hawley St. #220
Mundelein, IL 60060
Main office: 847-970-5524
Fax: 847-388-4746

Our Providers

Testimonials

Very good company. I've been with them for 15 years . They always on top of thing's and they have the best customer service.
H Hamza
Mike is great! Always personable, timely, helpful, and extremely competitively priced.
Corey
Best insurance company I have ever worked with. They are efficient, professional and very competitive in price. Premium Heating & Cooling.
Premium Heating & Cooling
Schultz Insurance provides top-quality customer service. When we need Certificates, Bonds and/or Special Coverages they are quick to respond, which in turn keeps our customers happy.
Markgraf Heating and Air -Long Grove
I own a business for 12 years and from my first day on I'm dealing with Mike Schultz for all my business & health insurance, He is very knowledge about his work and he always found a great - but most important for me is he is always available when I need him.
Mike M
Schultz Insurance always provides excellent service. They are professional and quick to respond to our changing insurance needs. They are committed to knowing their customers and finding the best insurance coverage to fit their situation.
M. Small
We've worked with Mike for many years. He has always done great work. Always professional and provides excellent service.
S Sundquist
When we have questions, concerns or need service Schultz Insurance has always been there for us.
Austrian Bakery