California contractors insurance is one of the costs of working as a building contractor, but it is a small price to pay to ensure that your business is protected from the financial consequences of an accident or a disastrous event. It always makes sense to keep an eye on your insurance affairs to be sure that you obtain good value for each insurance dollar.

•Make sure that insurance coverage reflects your current needs. Growth of your contracting business exposes you to further risks; if you have expanded the range of services you provide you may have an increased liability risk, and if you have invested in additional equipment you may need to adjust your property insurance coverage.  
•Consider purchasing business income insurance. A disaster that forced you to vacate your business premises temporarily could severely reduce your income. Business income insurance can help ensure the continuity of your business despite a setback like a fire in your workshop.
•Standard workers’ compensation insurance often requires advanced premium payments, causing stress to a contractor’s cash flow. You may benefit from switching to pay as you go workers’ compensation insurance.

Don’t automatically renew contractors’ insurance each year without shopping around to be sure that the product you have purchased offers good value. Many busy contractors find that it is worthwhile to engage a local insurance agency to help to manage their California contractors insurance matters. An insurance agency can look after your interests and ensure that you get insurance at a reasonable price without having to compromise on coverage.

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