What is contractors insurance, and why do I need it?

Contractors insurance is a package that can include general liability, tools and equipment, installation floater, commercial property, and business interruption. It helps cover third-party injuries or property damage, stolen tools, and project-related risks so you can keep working after a loss.

Do I need a separate policy for the vehicles I use for my contracting business?

Yes. Vehicles used for business need commercial auto coverage. Personal auto policies typically exclude business use.

What’s the difference between this insurance and a policy for a construction project?

Contractors insurance protects your ongoing operations and assets. A construction project policy, like a builder’s risk or course-of-construction policy, covers a specific job site and the materials at that site during the build.

Is commercial auto insurance required?

If you use vehicles for business, lenders, lessors, and many clients will require it. It also ensures claims arising from business use are covered.

How are premiums determined for a contracting business policy?

Pricing factors include trade type, annual revenue and payroll, claims history, number of employees, tools and equipment values, coverage limits, and project types.

Insurance FAQs - James Campbell Insurance

Am I able to lend my vehicle? How does this affect my insurance?

If you lend your vehicle, you essentially lend your insurance. A claim in your vehicle will be rated as if you were driving the vehicle. It is always important to verify that the individual has a valid driver’s license before letting them drive your vehicle.

Frequently Asked Questions

Am I able to lend my vehicle? How does this affect my insurance?

Does the color of my vehicle affect my premium?

How long does a claim stay on my driving record for?

How long do tickets stay on my driving record for?

What information do I need for an insurance quote?