Artisan Contractors Insurance —
Build a customized policy to protect your contracting business with help from an experienced, independent agent.
You work hard to provide solid, trustworthy services to your customers. Shouldn’t your insurance policy do the same?
If you haven’t talked to a contractor's insurance professional about your coverage options, you could be putting your business at risk. Only an independent agent with experience in artisan contractors insurance can ensure you’re covered for all the risks associated with your chosen occupation.
“Artisan contractors” is a broad category of insurance that covers a variety of occupations, including carpenters, electricians, roofers, plumbers, tree surgeons, and much more. Basically, the term refers to occupations that involve skilled work with tools at a customer’s premises.
For many artisan contractors, a business owner's policy (BOP) tailored specifically to their business will provide the most cost-effective coverage.
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What does artisan contractors insurance cover?
When designing a policy to protect your business, you’ll have several coverage options to choose from. Some come standard and others can be added to suit your business.
Typically, an artisan contractors insurance policy will cover property damage, liability, and vehicle damage.
Coverage for damage to your buildings and personal property due to fire, storm, theft, and vandalism. Ideally, your contractor's insurance policy should cover the replacement cost of your entire property in the event of a total loss.
Coverage for liability claims and lawsuits. If someone is harmed by your work and files a lawsuit against you, liability insurance will help cover the legal fees. If you’re working as a subcontractor, your customer may require you to have Owners and Contractors Protective Liability (OCP) coverage.
Business auto insurance
Your personal auto policy may provide coverage for some business use of a vehicle. But you're better off purchasing business auto coverage if you use a vehicle primarily for business. If you get in an accident while on the job, your personal auto policy may not cover the damage. If the vehicle is owned by the business then you must purchase a business auto policy.
What is a “floater,” and do you need one?
As a contractor, you’re likely doing work at a customer’s premises. That means that your most valuable personal property is probably moving around with you and is not covered by a standard property insurance policy. Instead, movable property is covered by contracts called “floaters.”
An installer’s floater covers equipment and machinery during transit and when being installed and tested at a customer’s premises. The floater is typically written to cover a single job or on a reporting form, meaning you inform your insurer every time you undertake a new contract.
A ‘tools and equipment’ floater covers the insured property wherever you take it. This coverage can include hand tools, power pumps, power drills, and more.
Is workers compensation insurance necessary?
The answer to this question will depend on your state requirement and how many employees you have. Generally, sole proprietors and partnerships aren’t required by law to purchase workers comp insurance until they have employees who aren’t owners.
Your best course of action is to check your state’s workers compensation website for guidelines. Your artisan contractors insurance agent can also help you determine which coverage options make the most sense for your business.
He or she will also compare prices and coverage from multiple insurance companies to find the right protection for your business.