Request A Free Quote

What is Contractors Insurance?

Constructing and repairing buildings comes with a lot of responsibility, and with that responsibility there’s also potential risk. Form potential liability lawsuits to vandalism and theft, contractors in Massachusetts are exposed to a number of potential perils that contractors insurance may help protect against.

Contractors insurance is a specialized form of commercial insurance that’s specifically designed for contracting professionals and businesses. Most policies are written as package policies that combine multiple insurance coverages together, and the exact combination of coverages can often be adjusted for a contractor’s particular situation.

What Massachusetts Businesses Need a Contractors Policy?

There are many businesses in Massachusetts that might benefit from having a contractors policy in place. In fact, some businesses may need a policy in order to secure financing or land contracts. Even those that don’t a policy for financing or contract bidding should still consider carrying coverage, for a single major incident could financially devastate almost any contracting business.

Some specific examples of contractors who might want a policy include:

     • Commercial construction companies
     • Home builders and home remodelers
     • Tradespeople in the construction industry

In certain situations, artisan contractors who aren’t in construction may also want a contractors policy. For example, policies might be adapted to give interior decorators, exterminators or other similar professionals coverage.

Professionals and businesses who aren’t sure whether a contractors policy is right for them should speak with an experienced insurance agent who specializes in contractors liability insurance. A specialized agent will be able to explain how a policy would or wouldn’t provide protection so that professionals and businesses can decide whether this is the right type of insurance for them.

Contractors Insurance Massachusetts

What Coverages Are Included In Contractors Policies?

Because contractors policies can often be adjusted for specific situations, the exact coverages that policies provide can vary. Nonetheless, most policies offer an array of liability and property insurance protections like the following:

     • General Liability Coverage, which normally covers certain common accidents
     • Contractors Liability Insurance Coverage, which normally covers work-related mistakes
     • Contractors Equipment Coverage, which normally covers owned equipment
     • Equipment Leased or Rented from Others Coverage, which normally covers non-owned equipment
     • Inland Marine Coverage, which normally covers items while they’re being transported
     • Commercial Auto Coverage, which normally covers owned vehicles
     • Commercial Property Coverage, which normally covers owned property
     • Commercial Umbrella Insurance, which normally provides supplemental liability protection

Like other liability insurance protections, contractors liability insurance typically begins paying on covered claims when they’re filed. Contractors usually don’t have to wait for a verdict to be rendered before they can get help paying legal fees associated with a covered claim.

Do Contractors Policies Come with Workers Compensation?

In Massachusetts, most contractors policies don’t include workers compensation coverage. Even though a large number of contractors need this coverage, which generally protects against job-related injuries and illnesses, it’s frequently purchased separately.

Insurance agents who are familiar with contractors liability insurance often also help contractors with any workers compensation needs they have.

Contractors Insurance Massachusetts

What Factors Affect Contractors Policies’ Premiums?

Insurance companies consider many factors when setting the premiums for contractors policies. Some of the factors that insurers might take into account are the:

     • Kind of work a contracting business does
     • Size of a contracting business
     • Equipment used by a contracting business
     • Location of a contracting business’ jobs
     • Past claims history of a contracting business

How Can Contracting Businesses Get Contractors Insurance?

For help finding contractors insurance that meets your business’ needs, contact John P. Russell Insurance. Our independent agents have helped many contracting businesses in Massachusetts find insurance, and we’re ready to help you as well.

What Our Clients Say

"Thank goodness I have an agent who will go the extra mile for a client. I deeply appreciate it!"

Andrea, Stoughton, MA

"John, you and your office have done a great job for us and I really appreciate it. You guys are very professional and considerate. That goes a long way with me".

Karen, Medfield, MA

"Your staff did an exceptional job helping me with a recent claim. They took care of everything in a professional and prompt manner. They were very nice, extremely helpful, and took the burden off of me. Their help was greatly appreciated".

Lori, Quincy, MA

"Thank goodness I have an agent who will go the extra mile for a client. I deeply appreciate it!"

Peter, Brockton, MA


Get A Free Contractors Insurance Quote!