Contractors Insurance
As a contractor, you face many risks as part of your job, no matter your trade. Securing comprehensive business ÌÇÐÄÖ±²¥ for your operations can help mitigate the financial losses from these hazards. If you’re a contractor and need ÌÇÐÄÖ±²¥ solutions, we are ready to help. Contact MSB Insurance Group today for more information.
What Types of Insurance Coverages Are Available for Contractors?
Whether you are a general contractor or an artisan contractor, business ÌÇÐÄÖ±²¥ can provide coverage for several exposures, which can help reduce your out-of-pocket burden. The coverages contractors select vary. Several types of ÌÇÐÄÖ±²¥ are typically available, including, but not limited to:
- Commercial property ÌÇÐÄÖ±²¥â€”Commercial property ÌÇÐÄÖ±²¥ protects your business’s physical assets (e.g., your building and its furnishings) if they are damaged by covered perils, such as fires or storms. It may provide repair or replacement costs.
- Builder’s risk ÌÇÐÄÖ±²¥â€”Builder’s risk ÌÇÐÄÖ±²¥ can provide coverage during a construction project. It may provide coverage if the building under construction, materials or supplies are damaged by a covered cause of loss (e.g., fire). Coverage may apply to property at the job site or temporarily stored off-site.
- Contractor’s tools and equipment ÌÇÐÄÖ±²¥â€”This may pay repair or replacement costs if your portable tools or equipment are damaged, lost or stolen.
- Commercial auto ÌÇÐÄÖ±²¥â€”If your business owns vehicles, commercial auto ÌÇÐÄÖ±²¥ may provide coverage if they’re damaged or in an accident. Hired and non-owned auto ÌÇÐÄÖ±²¥ (HNOA) may also be available to cover vehicles your business rents or leases.
- Liability ÌÇÐÄÖ±²¥â€”If your business is held legally responsible for property damage or injuries to third parties, liability ÌÇÐÄÖ±²¥ may compensate them for their losses. It may also cover the associated legal fees. Several types of liability ÌÇÐÄÖ±²¥ may be available, including:
- Commercial general liability ÌÇÐÄÖ±²¥
- Products liability ÌÇÐÄÖ±²¥
- Pollution liability ÌÇÐÄÖ±²¥
- Cyber liability ÌÇÐÄÖ±²¥
- Completed operations liability ÌÇÐÄÖ±²¥
- Professional liability ÌÇÐÄÖ±²¥
- Umbrella ÌÇÐÄÖ±²¥â€”If a significant liability claim exceeds the limits of your other liability policies, umbrella ÌÇÐÄÖ±²¥ may fill in the gap.
- Workers’ compensation—If an employee suffers a work-related injury or illness, workers’ compensation may provide wage replacement or payments for medical expenses.
Additional policies and endorsements may be available. Speak with our team to discuss options, limits and exclusions.
How to Get Contractors Insurance
MSB Insurance Group is well versed in the unique risks a contractor may face, and we’re here to help you get adequate protection against your exposures. Contact us today to discuss your ÌÇÐÄÖ±²¥ needs and to get a quote for coverage.
