Ensure a Solid Foundation: Contractor Insurance
Preferred Mutual believes protecting you and your business from work-related accidents is absolutely essential to ensuring our economic future.
Contractors face unique and often dangerous risks every day on the job site, and accidents can happen in a split second. Whether you’re an electrical, excavation, or plumbing and HVAC contractor, Preferred Mutual is there for you, no matter what.
Studies show that nearly 50% of small businesses are the target of civil lawsuits! Liability claims can happen to your contractor business, and every business faces potential risks and threats that could cause serious financial losses! Here are two of the largest liability risks associated with the contractor industry.
Jobsite Risks
Maintaining strict control over building site operations is imperative and putting effective control mechanisms in place is a must. However, the unexpected can happen where one of your employees inadvertently damages the client’s property, such as scaffolding collapses onto a garden water feature. The homeowner could claim this damage with their homeowner insurance provider, but Preferred Mutual will protect your bottom line with Contractor Liability Insurance, which is included in your insurance package!
Product Risks
Just imagine all the accidents that could happen while transporting, carrying, and installing new materials that have yet to be purchased by the customer; who would pay for a broken countertop or heating unit? Installation floaters ensure that your paycheck for a completed project doesn’t turn into a payment for damaged materials that you had to replace. We’re here for you! While installation floaters are often categorized as an additional option to your basic policy, going without this insurance coverage is a risky choice for a contractor.
Commercial insurance is available for a variety of contractors, including:
- Air conditioning/heating contractors
- Appliance installation, servicing, or repair — commercial or household
- Carpet, rug, furniture, or upholstery cleaning
- Communication equipment installation
- Concrete construction*
- Electrical contractors
- Excavation and grading contractors
- Fence erection contractors
- Glazier/glass installation
- Interior decoration
- Landscape gardening/lawn care
- Lighting installation
- Masonry* contractors
- Office machine repair
- Painting* contractors
- Paperhanging* contractors
- Paving (driveway and parking lots) contractors
- Plastering* contractors
- Plumbing contractors
- Satellite dish installation*
- Sign painting/lettering contractors
- Surveyors
- Tile/stone/marble contractors
- Water softening equipment installer
*Only available in MA, NJ, and NH.
Your industry is critical to our economy, employing over 7 million employees and creating nearly $1.3 trillion worth of structures each year. According to the Associated General Contractors of America, the construction industry is also one of the largest customers for manufacturing, mining, and a variety of other services.
With our economy on the backs of businesses like yours, Preferred Mutual believes protecting you and your business from work-related accidents is absolutely essential to ensuring our economic future.
Your business is unique, which is why our commercial insurance solutions for contractors can range from a standard BOP to a more thorough mix of coverages! Contact your Independent Agent today!
This information is intended for educational purposes only and is not legal advice and/or an authoritative guide. This content does not represent any contractual agreement. Coverages are subject to change.