With an agency owner who has previous construction experience, we understand the daily grind of the artisan contractor. As you rush from a service call, to bid a job, and then run by the supply house you need an agent, insurance company, and coverage that can keep up every step of the way. We definitely understand…
Unfortunately, contractors are the industry that we most often see whom are either grossly underinsured or are overpaying for inferior coverage.
Luckily, we have solutions to your issues.
We are partnered with some of the best companies in the business to meet the needs of any type of Contractor.
We also provide quick turnaround times on certificates and additional insured request. We understand that this is necessary for you to get a job or to be paid for a job.
What type of policy does my business need…? Business Owner’s Policy or a General Liability Policy?
Well that depends- to decide we must look at the structure of each policy.
Business Owners Policy – A package of coverage for your liability, property, and loss of business income. Most Insurance Companies have packaged additional coverages that are commonly needed by businesses in your industry.
Although a Business Owners policy has coverage packages for many things there are still things like cyber liability, employment practices liability, or employee theft that may not be covered. Making sure to cover these risk is where most insurance agencies fall short.
General Liability Policy
A policy that only comes with Liability coverage for bodily injury and property damage caused by your business. All other coverages must be added to the General Liability policy to be covered.
Additional Coverages that we would highly recommend to Contractors!
- Contractors E&O- A form of liability coverage designed to protect artisan contractors from potential liability exposures resulting from allegations of negligence and errors in the insured’s work.
- Inland Marine Tools & Equipment / Installation Coverage- This covers tools, equipment, machinery, and materials while in transit or away from your location.
- Rented / Leased Equipment- Coverage for equipment that you lease. Some coverage can be included in the base policy but increases are necessary for larger pieces of equipment.
- Surety Bonds – We are able to assist with all types of bonds including Bid / Performance, Contractors License Bonds, Notary, and ERISA Bonds. We have multiple companies to work with that are also competitively priced.
- Completed Operations Liability- Coverage for bodily injury or property damaged caused by a claim due to your completed work.
- Voluntary Property Damage- Provides coverage for unintentional damage to property of others caused by the insured while the property is in the care, custody or control of the insured.” It includes damage to property you are physically working on.
- Business Interruption / Loss of Business Income- Covers the income that you may lose if you cannot operate your business because of a covered claim.
Additional Insurance for Your Business Needs
- Commercial Auto Insurance – Covers your vehicles while being used for your business. If vehicles used by a company are allowed to be on a personal auto policy then why did insurance companies ever create a commercial auto policy? This is one of the biggest mistakes we see businesses make with their insurance. Make sure your business and vehicles are on the proper policy with the coverage your business needs.
- Workers Compensation Insurance – covers injuries that your employees suffer at work. If you have any employees, you need workers compensation insurance, because you are responsible for your employees’ wellbeing.
- Group Benefits – you can offer accident, disability, critical illness, and life insurance to your employees for little to no cost for your business.
- Employment Related Practices Liability – Protects your business from lawsuits by employees for things like sexual harassment, wrongful termination, or discrimination.
- Data Compromise / Cyber Liability- Covers the expenses to notify your customers and for any damages they are awarded after their personally identifiable information is stolen through a data breach.
Download our free guide to protecting your business from a Data Breach here. (Include Hartford Data Breach Guide)
- Employee Benefits Liability –Covers any errors made by an employee administrator of your employee benefits program.
- Directors & Officers Liability –Protects the company as well, covers legal fees, settlements, and other costs. D&O insurance is the financial backing for a standard indemnification provision, which holds officers harmless for losses due to their role in the company.
- Commercial Liability Umbrella Insurance- Provides additional coverage in the times that your business policy, commercial auto, or workers compensation is not enough coverage.