Contractors Insurance in Massachusetts

Pike Insurance is providing insurance options for contractors insurance to contractors in Massachusetts & New Hampshire.

Contractors Insurance Massachusetts

Contractors Insurance in Massachusetts

Contractors Insurance Massachusetts

What is contractors insurance?

Working in the construction and other contractor industries comes with varied risks, which Massachusetts contractors should take care to protect themselves against. Using proper PPE and taking appropriate safety measures on the job site is, obviously, essential. So too is contractors insurance.

Contractors insurance can provide a wealth of protections for contractors. Most policies can be tailored to a contractor’s specific work and risk exposure.

What Massachusetts businesses should be carrying contractor insurance?

Most contractors in Massachusetts should have a policy that includes contractor liability insurance and other coverages. This includes both general contractors and more specialized contractors. Some examples of who might purchase this insurance include:

  • General contractors and developers
  • New construction crews and remodelers
  • Demolition crews and hardscapers
  • HVAC, electrical and plumbing tradespeople
  • Roofers, carpenters masons
  • Others in the construction or trade industries

While most of these businesses should have some type of contractor policy, the same policy won’t meet everyone’s needs. An insurance agent who specializes in contractor liability insurance can help find a policy that’s tailored to your business’s needs.

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What insurance coverages are available to contractors?

Contractors have access to diverse protections through contractor policies. Some of the more common coverages that policies typically offer are:

  • General Liability Coverage: Might cover accidents occurring at the contractor’s site and on job locations, which result in harm to a third party.
  • Commercial Umbrella Coverage: Might provide additional liability protection for legal claims that exceed a general (or other) liability coverage’s limit.
  • Commercial Property Coverage: Might cover equipment, tools, supplies, furniture, racks and electronics at a contractor’s facility.
  • Inland Marine Coverage: Might cover equipment, tools and supplies as they’re transported to/from different job sites.
  • Contractors Equipment Coverage: Might cover equipment, tools and supplies as they’re kept at job sites.
  • Equipment Breakdown Coverage: Might cover unforeseen malfunctions of essential equipment that require prompt repair.

Contractor liability insurance coverages usually pay for legal costs and settlements associated with covered claims. They normally begin paying when a covered claim is filed, so contractors can get help before any claim is settled or ruled on.

Contractor property insurance coverages usually cover the stipulated items for either their depreciated value or replacement cost, depending on the terms of a policy’s protections.

A knowledgeable insurance agent can explain exactly what various contractor liability insurance coverages and contractor property coverages should protect against.

Contractors Insurance Massachusetts

What type of commercial auto coverage should contractors get?

In addition to the aforementioned protections, most contractors also need some type of commercial auto coverage. There are a few potential options to evaluate:

  • Personal Auto Policy: Small contractors who are self-employed might be able to add minimal commercial auto coverage onto their personal auto policy. This is only suitable in limited cases, but tends to be the most affordable option when it suffices.
  • Commercial Auto Policy: Contractors who have one or two smaller vehicles might be able to use a commercial auto policy. This can be a good option when insuring cars, light trucks, duallys and vans that are commercially registered, and owned by the business.
  • Commercial Truck Policy: Contractors who have larger trucks likely need a commercial truck policy. This might be needed if using a larger box truck, lowboy, concrete mixer, dump truck, tractor-trailer or anything similar.
  • Commercial Fleet Policy: Contractors who have five or more commercially registered vehicles might find that a fleet policy best meets their needs. Such policies usually are able to cover multiple vehicles efficiently.
  • Hired and Non-Owned Policy: A hired and non-owned policy might cover employee vehicles or rented vehicles. Contractors may use this if their employees use personal cars or trucks for running errands, or if the contractor rents vehicles for specific jobs.

Again, a knowledgeable agent can assist with evaluating insurance options and selecting the best one.

How can Massachusetts contractors get contractors insurance policies?

If you need help finding contractors insurance in Massachusetts, contact the independent insurance agents at Pike Insurance. Our agents will work closely with you to assess coverage needs, and then help you select the best policy based on your business’s needs.