What is the purpose of contractor insurance?

Texas businesses involved in construction or trades face numerous property and liability risks, from equipment damage to severe injuries. Contractor insurance can assist such businesses in safeguarding themselves from many of the risks they encounter.

Contractor insurance is specialized commercial insurance tailored for those in the construction or trade industries. Policies can typically be customized to meet a specific contractor’s requirements.

Which businesses in Texas should consider a contractor policy?

The majority of Texas businesses engaged in construction or trades should have a contractor policy in place. Virtually no one in these industries is without risk.

Some examples of businesses/professionals who might need a policy include home builders, remodelers, carpenters, electricians, plumbers, painters, HVAC technicians, handymen, roofers, and others. 

Not only does insurance provide valuable protections, but sometimes it’s required to get well-paying jobs. Many commercial and government customers will only hire properly insured crews.

What coverages do contractor policies offer to businesses?

Contractor policies are often customized by selecting the coverages they provide, and there are multiple coverages that policies typically offer. Policies frequently include the following:

• General Liability Insurance: Often covers common accidents resulting in injuries or damage to third parties (not employees).
• Contractor Liability Insurance: Often covers contractor mistakes that negatively impact a customer.
• Contractor Equipment Insurance: Often covers large or specialized equipment against damage and loss.
• Equipment Leased/Rented From Others Insurance: Often covers leased, rented or borrowed equipment against damage and loss.
• Inland Marine Insurance: Often covers equipment against damage and loss while in transit between locations.
• Commercial Auto Insurance: Often covers company-owned vehicles, such as trucks, vans and other automobiles.

Contractor liability insurance coverages normally help pay legal fees and settlements associated with lawsuits that fall within the provided protections.

There are even more coverages that policies can offer. An insurance agent specializing in contractor liability insurance and other coverages can review all of the protections available.

What contractors is painters insurance for?

Most individuals and businesses that offer professional painting services will find painters’ insurance protects against their risks well, and at an affordable rate. This can be a good option for interior painters and exterior painters.

Painters who provide services only seasonally might be able to get painter’s insurance for only certain months of the year. This is something a knowledgeable insurance agent who’s familiar with the different types of contractors’ policies can likely assist with.

What contractors is handyman insurance for?

Handyman insurance is often a good option for individuals who provide general maintenance and repair services, but don’t do much (or any) technical work. Premiums are quite affordable because the policies don’t have to cover risks associated with more advanced jobs.

Most people who purchase handyman insurance are individuals working as sole proprietors or limited liability companies, but larger companies can get this insurance too if it’s appropriate.

What contractors is roofing insurance for?

Roofing insurance provides specialized protections for roofers and their crews. General roofers, metal roofing specialists, tile roofing specialists, commercial roofers and anyone else in this industry should consider roofing insurance.

What contractors is carpenters insurance for?

Carpenters insurance can provide the right protections for most types of carpentry professionals. General carpenters, framing carpenters, finish carpenters and others may find that this provides the coverage they need.

Carpenters can usually find courage for full-time work, or for part-time work if they’re covered by an employer but have side jobs.

How can Texas businesses obtain contractor insurance?

To secure insurance for a construction or trade business located in Texas, contact the independent insurance agents at A. Floyd Insurance. Our agents have supported numerous contractors in the state, and we’ll collaborate closely with you to find contractor insurance that provides comprehensive protection for your business.