As a contractor, there is nothing that offers the same satisfaction as seeing a finished project or watching a client appreciate the quality of your craftsmanship. Your work is different every day, and you are constantly chasing deadlines. The last thing you want to worry about is the potential for loss or liability. At Harnish Insurance, we know the risk hazards of your industry. As an independent agency, we help Mesa area contractors like you implement coverage that can aid in loss prevention and protect business continuity for years to come.
Insurance for Nearly Any Specialty
Just like no two restaurants or retailers are exactly alike, contractors work in a wide range of fields and specialties. For that reason, you need insurance that is custom-tailored according to your unique risks and exposures. Contractors rely on insurance to minimize the potential for financial loss, whether due to liability or a natural disaster. At Harnish Insurance, we work to protect contractors against these losses with coverage that extends to a broad assortment of risks.
We can individualize coverage for most types of contractors, including:
- General contractors
- Pressure Washers
- Flooring Installers
- Cabinetry installers
- Drywall installers
- Heating and Air Workers
- Masonry workers
- Concrete workers
- Tree Trimmers
- And more
What Do You Have to Lose?
The short answer is everything. If your shop or garage went up in flames tomorrow, could you afford to start over again? If your business faced a half-million dollar lawsuit, could you afford the legal fees and potential damages? Having the right insurance could mean the difference between continuing business as usual or shutting your doors forever.
Contractors need different types of insurance coverage for different risks. Your coverage needs will largely depend on the size of your business and the type of work you do. Some coverages may be required to bid on a project or even by law. Others are optional, but they can still add significant value to the financial security and longevity of your business.
Types of Contractor Insurance
Contractors usually purchase multiple types of insurance protection. Your independent agent can help you determine which ones may be right for you. Examples of common coverages include:
Property Damage Insurance
This insurance helps protect your business’s physical assets against a wide range of loss events. It usually covers the structure of your shop, as well as your signage, equipment, furnishings, computers, and more. This coverage helps compensate you for your loss so you can repair, rebuild, and replace your damaged or stolen belongings.
Business Interruption Insurance
When a covered event makes working an impossibility, business interruption insurance can help. This coverage helps facilitate cash flow to cover your ongoing business expenses, such as payroll and mortgage payments until you can resume normal operations again.
Inland Marine Insurance
When your business is on the move, you need additional insurance that protects your tools and equipment in transit. This insurance is important for contractors who carry their equipment between project sites. The coverage helps protect mobile equipment like forklifts, as well as computer equipment, tools, and supplies while they are being transported. It compensates you for losses if your equipment is damaged, stolen, or destroyed due to a covered event. In addition, inland marine insurance may also include builder’s risk coverage, which protects unfinished construction projects against high winds, fire, theft, vandalism, and more.
General Liability Insurance
Also known as GL, this coverage helps protect your business against various types of third-party liability. For example, it can help pay for your legal fees and financial responsibility if you are sued for a slip-and-fall incident in your shop. Talk to your agent about the amount of general liability coverage that may be right for you and whether you should consider purchasing supplemental liability protection with a commercial umbrella insurance policy.
Commercial Auto Insurance
Do you own vehicles for commercial purposes? Make your trucks are covered by a policy that protects your business against vehicle-related losses. From theft and vandalism to accident damages and liability, commercial auto insurance could prevent extensive out-of-pocket losses.
Workers Compensation Insurance
If you hire employees to work for your business, you need workers compensation insurance. This coverage is generally required by law for most employers in the State of Arizona, even if you only have one part-time employee. This coverage can help pay for medical bills and lost wages due to workplace injuries regardless of fault. It can also safeguard your business against lawsuits leveraged by injured employees and their families.
Employee Dishonesty Coverage
If one of your workers commits fraud, theft, or some other criminal act that results in a financial liability or loss for your business, your employee dishonesty coverage may help cover the damages.
Faulty Workmanship Coverage
Things do not always go as planned. If you fail to complete a job as agreed upon due to negligence, you could be liable for any financial damages it causes the business or individual who hired you. This insurance helps protect you against these types of claims, whether you went over budget on a project or failed to meet a project deadline.
Completed Projects Coverage
You take pride in the quality of your work, but accidents and mistakes can happen. If you fail to tighten a bolt under a client’s sink before finishing a plumbing installation project, you could be liable for damages when leaking water destroys the surrounding drywall, trim, cabinetry, and flooring. Make sure you are covered against these types of mishaps with completed project coverage.
Contractors Insurance Quotes
If you work as a contractor in the greater Mesa, Arizona area, we want to help you get the coverage you need. Contact our office to discuss the contractor’s insurance solutions available to help you minimize your risk exposure to financial loss.