A lot of contractors have this question in their mind when
they have a contract at hand.
Choosing an insurance company is not always the easiest
because there’s no defined rating criteria for who the best contractor’s insurance
provider is.
Any type of contractor whether general, artisan, electrical,
paving, plumbing, roofing, landscaping and any other contractor, needs to
understand what makes the best contractors insurance company.
There many considerations which you should look at when choosing the best contractors insurance provider, which include:
Coverage
This is probably the most important factor when choosing the best insurance company. You would want to choose an insurance company that protects you on the majority of all your major concerns. Always choose the insurance that covers what you need. If you don't have enough cover, your contract or business could be over before it starts.
Ease of Making Payments
Paying for your insurance should never be difficult. Find out if the insurance company accepts all modes of payment that is Cash in both United States Dollars, Bond Notes, Swipe, EcoCash etc.
Claims Paying Ability
An insurance company's claims paying ability is what makes an insurance company. Insurance is a business of paying claims and once that ability falls off, insurance ceases to exist. The best way to assess claims paying ability is checking the Credit rating of a insurance company and their asset base which can be obtained from IPEC.
Cost
Although it is dangerous to consider only the price of insurance when making an insurance decision, it still remains an important factor when making your choice. Be sure that the price you are paying shows that the insurance company is competitive and reflects ability to pay claims in the case that they arise.
Flexibility and Innovation
As an contractor, you should expect to have more choices from your insurer. Its best to have an insurance company where you can pick and choose exactly what you want. A company that offers you traditional products and doesn't innovate will lead you to getting other insurance covers you don't need.
Apart from these things, one of the most important things when buying any service is how you feel when dealing with the insurance company. As a contractor you want to deal with someone that you know is focused on your business and your needs.
I can not out-rightly say Zimnat is the best insurance company when it comes to contractors insurance but they seem to be ticking every box.
Apart from them being one of the top 3 insurance companies, they have opened a dedicated division aimed at providing all insurance needs for all kinds of contractors. Their products offering is the probably the largest in the country, which can give you the flexibility you need as a contractor.
You can check out their wide range of products on their website at www.zimnat or call them on +2634741461.