The Insurance Needs of Artisan Contractors

The Insurance Needs of Artisan ContractorsArtisan contractor is the term used to describe a specialty contractor – one that is trained specifically for one trade. This term is usually used when referring to electricians, heating and air technicians, plumbers, painters, drywall specialists, landscapers, carpenters, roofers, etc. Artisan contractors differ from general contractors in that they are usually called upon to perform one specific service for a customer, but they often work alongside general contractors when specialty work is needed as part of a larger project.

Just as artisan contractors provide specialty services, they need specialty insurance products to manage the risks involved in each specific trade. Contractor’s general liability insurance on its own is not enough coverage to address their unique insurance needs. There are other exposures to loss that an Artisan Contractor may need more specific coverage for.

Here are some of the most common coverage options for artisan contractors:

General Liability

General liability coverage protects artisan contractors from claims brought against them for any property damage or bodily injury that may arise during the normal scope of their business. Despite being highly skilled in their trade, artisan contractors are not immune to mistakes. For example, while working on a kitchen remodel, a drywall specialist may inadvertently cause damage to a pipe, resulting in a leak, or even flooding. In this case, the contractor would be responsible for the damage and cleanup, but the proper amount of general liability coverage would help pay for the claim.

Commercial Property

Commercial property insurance covers real estate and other property that the contractor owns and is located at the described business premises. If the business premises is rented property, the policy can cover any permanent additions or upgrades made to the business property by the insured. Tools that are used on the business premises are covered under a commercial property insurance policy, however, tools and machinery that are moved from job site to job site require additional property coverage.

Floater Insurance

Floater insurance is a type of insurance policy that covers movable property and provides additional coverage over what normal insurance policies provide. The tools, equipment and machinery owned or installed by artisan contractors requires this type of protection. There are a few different types of floaters that artisan contractors may utilize. For example, an equipment floater specifically covers equipment that is often moved from place to place for multiple jobs, or an installation floater covers property being installed by a contractor through completion of a specific job.

Business Vehicle Insurance

Most artisan contractor have a dedicated business vehicle they use to transport themselves and their equipment from jobsite to jobsite. A personal auto policy will not typically offer coverage for a vehicle that is used primarily for business, so business vehicle insurance is necessary to protect against liability claims if the contractor were to be liable for causing an automobile accident while in the business vehicle.

Umbrella Insurance

Umbrella insurance offers blanket insurance coverage to back up all other insurance policies in the event those policy limits are exhausted by a claim. Umbrella insurance is typically the least expensive of policies but can provide coverage for things that a normal general liability policy may not cover.

About Mavon Insurance

At Mavon Insurance, we pride ourselves on our unique approach to insurance. We focus on integrity, communication, professionalism, respect and gratitude to help our clients succeed and place business in specialized markets. For more information about our products, or to become an agent, contact us today at (877) 426-2866.