Artisan & Contractor Insurance

Also known as Course of Construction Insurance, is perhaps the most important policy to secure for any construction project. This coverage is designed to protect everything from the structure you are building to the materials waiting to be installed, to other site essentials like portable toilets. Builders risk covers of all this property against damages or losses that are the result of events like fire, wind, theft, lightening, hail, explosion, vandalism, and more. Traditionally, the building owner and other key stakeholders take responsibility for purchasing the builders risk policy; however, at HUB International, we have found that it often makes good sense, especially for larger contractors, to obtain and maintain their own “master” builders risk policy. With this coverage, you could insure multiple projects simultaneously, while also tailoring terms to meet each individual project’s needs. In addition, a contractor’s builders risk policy generally will provide broader coverage, higher sub-limits, and improved terms and conditions for all parties involved in a project, all at a reduced cost.

Protect a specific contractor from the loss of their materials being used for the installation, whether they are in transit or being stored on the project site. As compared to builders risk which provides funding for covered losses for all contractors working on the project, the installation floater will only cover the policyholder. This policy is often used to supplement insufficient builders risk coverage that may leave an individual contractor exposed. It’s critical to understand that an installation floater does not replace builders risk or vice versa; they work in concert to fully protect all parties who have an insurable interest in a project.

Provides coverage for bodily injury, property damage, cleanup, and related legal defense costs that result from a sudden/accidental or gradual pollution condition caused by your operations. This insurance is available to any type of artisan or contractor, from environmental or remedial contractors to general and specialty trades. While all construction-related activities have the potential to create a pollution liability, only those trades operating in high- and medium-risk industries are required to have contractors pollution liability coverage. Contractors who provide the following types of services are typically required to have $1M minimum in pollution liability coverage:

• excavation, landscaping, digging, and other site/dirt work
• drilling or any subsurface work
• moisture protection, like roofing, sealants, and siding
• mechanical, electrical and plumbing
• demolition
• drywall
• concrete

Protects you from potential liability exposures that could result from allegations that you or an employee have been negligent or committed an error in your work. This insurance is not, however, intended to replace your comprehensive general liability (CGL) coverage, but instead provides you with important protection over and above what your general liability policy includes. For example, your CGL excludes claims stemming from improper installation of products, such as new pipes or electrical wiring, which leaves you exposed to claims of negligence if something goes awry with the work you’ve done. Having contractors errors and omissions in place fills this coverage gap. However, insurers generally limit this type of coverage to specific types of trade contractors such as plumbers, electricians, painters, and HVAC professionals. Since each insurance carrier has their own unique errors and omissions product and requirements can vary greatly, it’s essential to work with your local insurance agent to ensure that you are with the carrier that offers a product that best fits your business insurance needs.

Is a critical piece of any artisan and contractor insurance solution. This insurance policy provides protection for the tools and equipment that may be essential to your trade such as:

• hand tools, like hammers, tape measure, and screwdrivers
• high-end power tools, like nail guns, welders, and electric drills
• small vehicles, including forklifts and tractors
• heavy equipment, including backhoes, excavators, skid loaders, bulldozers, and cement mixers
• construction gear, like goggles, hard hats, gloves, and uniforms
• miscellaneous equipment, including workbenches and sawhorses

If your tools or equipment are ruined as a result of theft, vandalism, a work-related incident or other covered event, contractor tools and equipment insurance will cover the expense of repairing or replacing them, minus your policy deductible. This insurance typically also covers the cost of leasing equipment while yours is being repaired and protects these rentals while in use by your business. The real key with this type of coverage is to ensure that the protection follows you and your tools wherever you go. In other words, your coverage should be designed to protect your equipment whether it’s stored at your shop, at a jobsite, in your vehicle, or all of these, and should extend to items in transit as well.