Contractors Insurance in New Hampshire

Also providing contractors insurance to residents in Massachusetts, Maine, Rhode Island, & Vermont.

Insurance24

What is contractors insurance?

Contractors face numerous potential hazards in their line of work. Work errors, equipment, equipment theft and vehicle accidents are just a few of the risks they must consider and protect against. One of the most effective risk management strategies for New Hampshire contractors is contractors insurance.

Contractors insurance policies are package commercial policies specifically tailored for businesses in construction and the trades. As package policies, this insurance can offer many protections.

Which New Hampshire businesses should have contractor insurance?

Both construction businesses and tradespeople may need contractor insurance. This includes New Hampshire general contractors, specialists, plumbers, electricians, HVAC techs, stonemasons and others. If a business builds, demolishes, or otherwise works on structures, this might be the right type of insurance for them.

Because many different professionals within the industry might use this type of insurance, insurance companies offer a variety of specialized contractor policies. An insurance agent who specializes in contractor policies can help professionals find one that’s particularly suited for their line of work.

What insurance coverages are available to contractors?

Contractors policies can incorporate a wide array of coverages. Commonly included coverages in these policies are:

• General Contractors Liability Insurance: May cover everyday mishaps that cause injury or damage to a third party, possibly including incidents at the contractor’s premises, a customer’s property, or a job site.
• Commercial Umbrella Insurance: May cover extended liability risks, which occur when the legal expenses and settlement surpass the limits of another liability coverage. This can supplement one or more contractor liability insurance protections.
• Commercial Property Insurance: May cover tools, equipment, supplies, fixtures, and other items stored at a contractor’s site. Typically also covers the premises itself if the contractor owns it.
• Inland Marine Insurance: May cover tools, equipment and supplies when in transit to and from work sites.
• Contractors Equipment Insurance: May cover tools, equipment and supplies when situated at customer locations or job sites.
• Equipment Breakdown Insurance: May cover unexpected malfunctions of critical equipment that require prompt repair.

Contractors liability insurance coverages, such as general contractors liability insurance and commercial umbrella insurance, usually cover legal costs and settlements related to any covered claims. A knowledgeable insurance agent can provide more comprehensive details about the various contractors liability insurance coverages, as well as of the property coverages that are available.

What type of commercial auto coverage should contractors get?

Most contractors also require some form of commercial auto coverage for their business vehicles. Contractors and tradespeople have several different auto coverage options:

• Personal Auto Policy: Normally used to insure vehicles owned by self-employed contractors, which get used for both personal and work-related driving. While only suitable in limited situations, like when a self-employed tradesperson owns a single vehicle, it’s often the most cost-effective option.

• Commercial Auto Policy: Normally used to insure one or two smaller vehicles, like work vans or heavy-duty pickups. The policy typically only covers vehicles that are owned by the business and commercially registered.
• Commercial Truck Policy: Normally used to insure larger trucks, like box trucks, dump trucks, concrete mixers, lowboys and tractor-trailers.
• Commercial Fleet Policy: Normally used for insuring five or more commercial vehicles, regardless of the size of the vehicle.
• Hired and Non-Owned Policy: Normally used to insure vehicles that the business doesn’t own but uses, which are frequently employees’ personal vehicles or rented ones. Typically only provides liability insurance for the vehicles.

How can New Hampshire contractors get contractors insurance policies?

If you’re a contractor in New Hampshire and in need of contractors insurance, contact the independent insurance agents at Insurance24. Our dedicated team will work closely with you to find a policy that provides the protections your business requires.