Key Coverages for Contractors
Whether you are a General Contractor, Painter, Landscaper, Electrician, Carpenter, Cleaning Service, or Plumber, you need the right insurance coverage to protect you and your business. In addition, to Commercial Property Insurance, consider these key coverages.
Commercial General Liability
General Liability protects your business if you’re found legally liable for injuries or property damage to others caused by you or your products.
Builders Risk Insurance Policy
Broad form protection for your construction project site and all property or equipment that will be part of the completed building or structure. Also, protection for your business income, including fines or damages.
This coverage protects contractors against claims arising from releases of pollutants on customers property.
Equipment and Tool Floaters
As a contractor you are always on the move with large and small equipment and tools. Those can be insured under equipment floater and tool floater wherever they reside.
The Bauld Process
When you engage the Bauld Team for your insurance needs, you will appreciate our Commercial Advisors depth of insurance knowledge and their hands-on personal approach.
1. Assess & Collect
Your Bauld Commercial Advisor will complete a needs assessment with you, understand your business risks, and collect answers to all required questions.
2. Quote / Advise
We gather quotes from a selection of insurance providers and share quote prices and options with you. Then we recommend the best policy for your unique business needs.
3. Select / Sign Off
Once a policy is selected, we will guide you through the application sign off process, and arrange an appropriate payment plan.
4. Ongoing Support
If your circumstances change or if you need to make a claim, our team will help you through the process, looking out for your best interests.
Frequency Asked Contractor Insurance Questions
When you drop a hammer off a roof and it causes damages.
As a hired contractor on a client’s premises, you are responsible for the safety of all parties around your work. For example, if a neighbour was injured by something falling from the area you are working in, you could be found liable for injury or property damage that occurs. Those legal expenses could cause your business serious financial harm.
A Commercial General Liability policy can help to defend and pay settlements if you are found negligent.
There is a fire on a job site - what now?
If your portable heater is left too closely to flammable material and catches fire at a construction site, you may be held responsible for all costs to repair and/or replace the damaged property. The destruction of an entire home could cost hundreds of thousands of dollars to repair and could devastate your business financially.
What if someone steals your tools out of your truck?
If your tools are properly locked and secured in your work vehicle but a thief is able to gain entry and steal them, you could be unable to earn an income and/or complete current contracts.
A Commercial Property Insurance policy could replace your tools and pay lost income while you are unable to work.
Is Your Business Well Protected?
You work hard to make your business successful. Find out how our Bauld Commerical Insurance Advisors can help you better protect your business.