Frequently Asked Questions About Contractors Insurance

If you do any work as a contractor, it is highly recommended that you purchase contractors insurance. However, here at Henderson Insurance Agency, serving the greater Harrisburg, PA area, we have found that many contractors are unaware of this type of insurance. Here are a couple of the questions you may have about contractors insurance. 

What is Contractors Insurance?

No one is perfect. If you make mistakes as a contractor, you may cause additional damage to a home, which can add up to a lot of money. Contractors insurance helps to cover you in the event that you make mistakes that cause damage to a home or building, ensuring these mistakes do not financially destroy you. 

When Should You Purchase Contractors Insurance?

It is strongly recommended that anyone who is doing any contract work purchase contractors insurance. Even those who are working under the table can be sued if they make a mistake. This type of insurance helps to cover you regardless of whether you are a handyman doing small projects or a large contractor taking on full remodeling projects. 

Are You Legally Required to Carry Contractors Insurance?

In Pennsylvania, you are required to carry contractors insurance, liability insurance or have a bond if you are a licensed contractor. However, if you are not licensed or are completing projects that do not require you to carry a license for, you are not legally required to carry contractors insurance. 

If you are doing work as a contractor, now is the right time to look into purchasing a contractors insurance policy. Contact Henderson Insurance Agency, serving the greater Harrisburg, PA area, to get answers to any additional questions you may have or to buy a policy today. 

Do Family-Owned Businesses Need Workers Compensation Insurance?

Workers compensation insurance laws are confusing for many small business owners. This leaves many people wondering whether they need to carry insurance or not. Here at Henderson Insurance Agency, serving the greater Harrisburg, PA area, we love to answer insurance questions for potential clients and existing customers. If you have a family-owned business, one of the questions you may have is whether or not you even need workers compensation insurance. Here is the answer to this question. 

The easiest way to determine whether you need workers compensation insurance or not is to ask yourself if you have any employees. If you have employees other than yourself, your spouse and/or any business partners, you are required to carry workers compensation insurance on those employees. It does not matter if you only have one employee, whether you are a family-owned business or if your business is profitable. As long as you have one or more employees, the laws are very clear that you are required to carry workers compensation insurance. 

Here at Henderson Insurance Agency, serving the greater Harrisburg, PA area, we know that the laws related to workers compensation insurance can be hard to follow and are murky at times. This is why we are here to help you. Whether you have questions about workers compensation insurance or are looking for a new policy, we can help. Give us a call today and let us discuss your workers compensation needs with you and help you determine whether you need a policy or not. If you do need a policy, we can help you find the right one for your needs. 

Why you absolutely need optometrist insurance

Even the seasoned optometrist cannot go without general liability insurance for his business. In fact, the law requires doctors to obtain malpractice insurance that protects their personal assets in the instance of a patient filing suit for damages. A malpractice indemnity plan also opens the door for credentialing related to medical and vision plans. 

Since there are so many benefits associated with protection, and because the law requires it, you should not attempt to operate your office without a good assurance policy in Harrisburg, PA. Henderson Insurance Agency can help you find the optometrist indemnity policy that works well for your business.

What exactly does malpractice insurance do?

Malpractice insurance for your optometrist office in Harrisburg, PA keeps your personal assets secure when accidents happen at work and you are sued for liability. The policy will pay an unhappy patient if he wins a lawsuit against your practice. You only need to make a claim with your guarantor to have the financial burden lifted off your shoulders. 

Benefits of Optometrist Insurance

Many do not know that an optometrist indemnity plan typically costs less than other forms of insurance. A family practice doctor pays much more for malpractice insurance than an optometrist will ever put out every month for coverage. Further discounts may be given to those who are fresh out of school. 

The key to finding the right insurance company for your situation is to do a bit of research about the carrier. Henderson Insurance Agency has assisted dozens of business owners with indemnity policies to satisfy their needs. Don’t accept a cookie-cutter insurance plan that does not provide all of the protection you need. Call us today for a consultation!

Garage Liability for Automobile Dealerships

Insurance coverage for auto dealerships can be tricky. Your inventory, property, and employees all need various types of protection. Sometimes, an accident can occur that triggers multiple policies. This can limit payouts and potentially leave lot owners paying out their pockets for repairs and other liabilities. If your auto sales lot is in the Harrisburg, PA area, Henderson Insurance Agency can help you protect most of your operation with a garage liability policy.

What is Garage Liability Insurance?

Garage liability insurance is designed to protect dealership owners from accidents and damage sustained to cars that are parked in their lot. If your cars are damaged by vandals, acts of nature, or other covered circumstances, this policy will pay for repairs or replacement. These policies also cover bodily damage that might occur in your garage. For example, an electrical fire engulfs your garage. In the course of attempting to put out the fire, one of your employees manages to burn himself. The resulting fire damages several vehicles and parts of the building before it is extinguished. Your garage liability insurance would help pay for your employee’s medical bills,  It will also help pay for replacement inventory and repairs to your building.

Why Do I Need Garage Liability Insurance?

As a responsible business owner, you already have several insurance policies in place. However, these policies may not be enough to fully cover your losses. If a catastrophic event took your entire inventory and destroyed your property, would the payouts from your current policies be enough to pay off your existing debts and start over from scratch? Garage liability insurance guarantees you will always be able to rebuild your business, no matter what life throws your way.

Garage liability insurance also protects your personal wealth. If you are found liable for an accident or injury and ordered to pay a judgment, you could be personally responsible for any amounts your existing policies don’t cover. Garage liability insurance is an extra layer of protection against the unknown.

Find out more about how garage liability insurance can protect your dealership. Contact the experts at Henderson Insurance Agency. We proudly serve the insurance needs of property and business owners all around the Harrisburg, PA area.

Protect Your Business and Your Employees with Contractor Insurance

Construction and contracting companies face unique risks.  Whether a sole proprietor, a small business, or a big company, the work itself can be dangerous and risky.  Not only can workers get injured on the job, but you may be held liable for the workmanship and damage from errors.

General Liability Insurance

General liability insurance can help protect your business from lawsuits by providing coverage for injuries, accident, and some errors.

If someone alleges your business is the culprit when someone gets hurt or their property is damaged, general liability insurance can help prevent you from having to pay the claims out of your own pocket.  Depending on the seriousness of the claim, that could mean severely restricting your cash flow, dipping into your savings, going into debt, or potentially even having to close your doors.

Other Types Of Contractor Insurance

There are other types of insurance you may want to explore.  Does your business have company vehicles?  Do you have an office or is all your work done at customer locations?  Do you have a lot of money tied up in tools, assets, or inventory? You will want to talk to an expert insurance agency to determine your specific situation.

  • Builder’s Risk Insurance
  • Property Insurance
  • Commercial Vehicle Insurance
  • Business Owner’s Insurance
  • Workers Comp Insurance
  • Umbrella or Excess Liability Insurance

Different types of construction and contracting business may have very different needs.  Contact Henderson Insurance Agency to help customize an insurance package for your specific needs.

Depending on your exact location, job, state, and local requirements, you may also need license bonds and/or permit bonds that have the financial backing of an insurer.  You may also be required to prove you have specific types of insurance in specific amounts before you can begin a job for many business or governments.

In Harrisburg, PA, count on Henderson Insurance Agency to provide you with all the information you need about Contractor’s Insurance. 

How Is A Workers’ Compensation Policy Premium Calculated?

Like many Harrisburg, PA small business owners, you may find it difficult to understand how your workers’ compensation premiums are calculated. Because workers’ compensation premiums can vary for a variety of reasons, the calculation process can be complex, and inaccurate calculations can result in surprise bills in the future. Henderson Insurance agency has created this basic overview to help shed light on some of the details involved in calculating your workers’ compensation insurance policy premium.  

Business Risk Classification

Before your premium is calculated, the insurance company will classify your business based on the industry risk of injury, and then use that classification code to estimate your premiums. If your company engages in a more potentially dangerous industry, such as construction, you will end up with a classification code with higher rates than a business that has less risk, such as customer service.

Annual Payroll Estimate

Once your classification code is set, the insurance company applies the class code rate to your anticipated payroll for the coming year. Because the policy premium is calculated based on projected estimated for the coming year, it is difficult to calculate the premiums exactly. Once your premium is calculated, you are required to make your initial payment.

Premium Payment

If you are a small Harrisburg, PA business and your estimated annual insurance premium is less than $1,000, you’ll be expected to pay the entire year’s premium at once. However, if your workers’ compensation premium is more than that, an installment plan may be offered for payment. With an installment plan, you’ll typically be asked for a deposit premium that represents 20 percent of your total estimated premium.

End-of-Year Audit

Your workers’ compensation policy expires at the end of the year, and when it does, you’ll need to renew your policy in order to continue your coverage. When your policy expires, the insurance company will still need to continue calculation on your previous policy. Within a month or two of the policy expiration, they will audit your payroll to compare it to your new term estimate. This audit is an obligation of the policy and is required by the State. If your payroll was lower than anticipated, you will receive a return premium, but if it was larger, you’ll be required to pay an additional premium to cover the difference.

For more information about how to plan for your workers’ compensation coverage premiums, or for answers to questions about your policy, contact Henderson Insurance Agency today.

What Does Contractor’s Insurance Cover?

Many people in Harrisburg, PA choose to work for themselves as contractors. If you have chosen this path, you must think about the insurance requirements for your profession. Henderson Insurance Agency has your questions answered about what contractors insurance is– and why you would need it. In fact, working contractors should have some sort of policy to protect them against liabilities.

Liability Coverage

The main purpose of getting contractors insurance is to protect yourself against liability. The work inherently comes with many risks of damage and getting hurt. This type of insurance would protect you from lawsuits that might occur. You can even customize your policy for your own type of contracting profession.

Structural Damage and Injury

Areas that contractors insurance covers are structural damages and injury. Contractors work in peoples homes and offices. The chances of things getting damages are pretty high during construction projects. Think of contracting workers bringing in large materials that scrape along the walls while being carried. This is the type of accident that would likely lead to structural damage in a home or office. This is where contractors insurance comes in. Your policy would likely cover something like this if it were to occur.

Other situations, like injuries, can also arise on the job. If any accidents at work result in the injury of a co-worker or even a passerby, your contractor’s insurance policy would cover the medical expenses. If the injured person files a lawsuit against the contractor, the policy would also cover legal fees for your defense in court.

More questions about contractors insurance in Harrisburg, PA? Contact Henderson Insurance Agency today to find out more.

The History Of Workers Compensation

Henderson Insurance Agency Harrisburg, PA helps worker’s through providing Workers Compensation insurance. Before the steam engine, electric lights and smokestack companies was a world of agriculture, represented by farmers tilling millions of miles of crops. The advances in agriculture became the agrarian revolution which changed forever farming bringing technological advances to the farm, such as crop rotation, and mechanical seeders and from the agrarian revolution was born the industrial revolution.

The industrial revolution not only advanced a highly technological society to such feats as landing on the moon, but it has resulted in causing horrific injuries to its workers. Taking care of worker’s injuries has its historical roots in antiquity, from ancient Sumeria, in  2050 B.C to the code of Hammurabi were workers were compensated for their injuries. 

In the Western world, the legal system was tapped to prosecute thousands of injury claims against companies whose workers were injured performing work on behalf of their employers. These lawsuits dramatically weighted down the court system and those injured had to wait months to be compensated but only if they won their lawsuits against their employers.

Fourteen states and territories, by 1893, had passed worker’s safety legislation. The majority of states had the same law, now called Worker’s Compensation by 1917. The Worker’s Compensation system had hearings and not trials, but the injured person still had to provide the proof that his or she injury was a result of working on the job.

 Instead of waiting months to receive any monetary compensation, the compensation was, for the most part, a certainty, but not as much as a jury award. Also, limits were placed on the amount of compensation and the length of receiving compensation in the future. As a trade off for receiving timely compensation the worker had to give up their rights to bring any lawsuit against his or her employer. Henderson Insurance Agency Harrisburg, PA provides coverage to protect workers. Please call an inquire about other types of insurance coverage!



Should You Purchase RV Insurance if the RV is Paid Off?

When you take out a loan to purchase an RV, or a recreational vehicle, you are required to carry full insurance on it, the same as you would if you were to take out a car loan. This helps to ensure that if the RV is stolen or totaled, the lender gets back the money they loaned you for the RV. Once the RV is paid off, you may find yourself wondering if you should still carry RV insurance. This is a question that many of our clients at Henderson Insurance Agency ask us. Here is our response to this question. 

In order to register your RV, you will need to carry liability insurance on the RV. The amount of liability insurance needed varies from state to state. We also recommend that you carry comprehensive and collision coverage, even if your vehicle is paid off. Both types of insurance help to protect your RV against things like your RV being stolen, being vandalized or you hitting a tree or parked vehicle with your RV.

An RV can be costly to repair or replace if it damaged or totaled. Purchasing insurance gives you peace of mind that you will only have to pay your deductible out of pocket, rather than the full amount of any damage done if your RV is damaged or is stolen. 

If you are looking to obtain RV insurance, or are looking to obtain a new policy, contact Henderson Insurance Agency. We can help you determine how much coverage you need and put together a policy that offers you the protection and limits that best suit your needs. Call us now to get started and to obtain a free quote. 

Do I Need ATV Insurance?

ATV insurance can offer financial protection for damages, accidents, theft, and injuries, and having insurance often comes in handy when an unexpected situation occurs. Pennsylvania requires that all ATVs be registered and have minimum insurance coverage. However, the law doesn’t state a specific amount of coverage that’s required. To get more specific information about ATV insurance in your area, you can contact the Henderson Insurance Agency, which is serving Harrisburg, PA.

Pennsylvania requires you to have at least liability insurance on your ATV. If you’re at fault for an accident, this type of insurance helps cover the costs of property damage or bodily injury. Liability insurance also helps cover your legal fees if you’re sued as a result of the accident. For further protection, you may want to consider getting other types of coverage to supplement liability insurance, such as collision coverage, comprehensive coverage, and underinsured/uninsured motorist coverage.

Collision coverage helps pay for damages to your ATV, regardless of who was at fault in the accident. There is often a deductible, which is a set amount that you have to pay out of your pocket before the insurance pays for the remainder of the repair costs.

If you want protection against theft, vandalism, and weather damage, look into getting comprehensive coverage. This coverage pays for damage to your ATV caused by something other than an accident.

Uninsured/underinsured motorist coverage is helpful if you let other people ride your ATV. This type of coverage helps pay for expenses if another rider causes an accident and doesn’t have the necessary insurance to cover the damage.

When you’re trying to decide exactly how much coverage you need, there are a lot of factors to consider. Contact the Henderson Insurance Agency, which serves the Harrisburg, PA area, to chat with a knowledgeable person about crafting an insurance policy that meets your needs.