As a contractor, you have a need to protect every aspect of your business. There are a ton of exposures and many concerns you have to factor in with each new job. You’re going to require liability coverage for any damage you or one of your workers may cause to another home or business, as well as workers compensation protection for any of your employees that may get hurt on the job.
When purchasing Connecticut contractors insurance make sure you include insurance protection for those items that you would be lost without. Not having the proper protection could result in you suffering losses that could be catastrophic to your work and livelihood. Protecting valuable business assets with insurance coverage is a no-brainer.
Most contractors own trucks and other commercial vehicles, which requires a separate policy that affords you protection for your vehicles, trailers or any commercial equipment you own and have in use, to name just a few. Lastly, one of your most important concerns is the valuable tools and equipment you own. You will most certainly need tool coverage that will protect your tools from theft, vandalism, fire and other losses.
Consider the need for “Floater” insurance
In your line of work, part of your job often includes machinery and tools that move around from job to job. These are not covered by a standard property insurance policy. Movable property is insured by contracts called “floaters”.
Installation floater coverage is designed to cover machinery and equipment during transit and at the job site facility. Everything from handheld and power tools, to backhoes and loaders, are necessary to perform the services you provide and those same pieces of equipment and tools are truly the heart of your business. Contact an agent who specializes in Connecticut contractors insurance today and find out more about the unique needs of your contractor’s business and which types of policies may be right for you.