Contractor insurance coverage varies greatly depending on the type and the size of the operation. From large general contractors in construction to a one man painting operation, the optimal program of insurance can protect your property but perhaps most importantly it may defend and cover you in case of a lawsuit. It can also get you back up and running quickly if your business suffers a loss such as stolen tools or equipment.
Recommended Insurance for Contractors
Commercial General Liability with limits as required by existing contracts is a must as well as coverage for your office contents, tools and equipment, installation floater, extra expense or other business interruption, crime and cyber expense coverage. Contractors' vehicles and trailers can be covered by a Commercial Automobile policy.
Specialized Coverage for Contractors
Depending on the scope of your operations additional coverage such as Equipment Breakdown, Rip and Tear, Crane and Hoist, Errors and Omission liability, Rented Equipment, Environmental liability, Wrap Up liability, and Cyber liability may be recommended.