No More Hiccups
Artisan Trade Contractors Insurance
Keep your small business thriving and without worry with insurance for artisan trade contractors. Now, your equipment and tools are covered along with the value of work completed for a customer before it is finished.
Contact us today to find out how we can help.
What Main Kind of Insurance Should Trade Contractors Acquire?
Trade contractors are best covered under a Business-Owners Policy (BOP) since it is the most cost effective coverage for liability and property. A BOP comes as a package deal but can be customized to best fit a business’s needs.
A BOP combines both property and general liability coverage; thus, your business stays covered when you experience property damage, suspended operations, lawsuits that arise from bodily injury or property damage to other individuals and more.
BOPs do not include professional liability, auto coverage, worker’s compensation or health and disability coverage. Your business must acquire all these types of plans separately depending on your needs.
What Are Other Important Coverages for Trade Contractors?
Business Vehicle Insurance
If you have a personal auto policy, it most likely provides coverage for some business use of your work vehicle, but your personal auto policy is unlikely to cover vehicle damages if it’s being used primarily for business. It will also not cover any vehicle that is owned by the business itself; you need a business auto policy for these vehicles.
Workers Compensation Insurance
States differ in their rules for when an employer is required to provide workers compensation insurance. For business owners that have three or more employees, it would be smart to check with your state department of worker’s compensation to understand whether you must provide workers compensation insurance.