Contractors and Trades

Key Coverages for Contractors:

1. Tool Floater - Your tools that are taken to the jobsite.  Insurance is available for if these tools are destroyed or damaged by an insured peril or stolen.

2. Contractor's Equipment - Larger items, typically having serial numbers which are valued at more than $1,000 end up being scheduled on the insurance policy. 

3. Installation Floater - Insurance is available to cover materials, machinery, and supplies that are purchased, stored, transported, and installed should they be damaged or destroyed by an insured peril.  Some insurance companies also cover the costs of labour and materials that have already been installed, but have not been paid for and the property ends up being damaged or destroyed.

4. Liability Insurance - Coverage for claims made against you for bodily injury or property damage that arise as a result of your operations.  Liability claims could come as a result of the actions of your employees, products, completed operations, or something else that occurs at your location.  This coverage also helps with financial costs such as defense costs and third-party damage if you are found legally liable.

5. Products & Completed Operations Liability - Coverage that provides financial protection if lawsuits arise claiming bodily injury or property damage that come as a result of work that has already been completed or a product that was manufactured, sold, or distributed.  For Contractors, the primary coverage aspect that applies is the "Completed Operations".  

6. Business Interruption Insurance - If your business is dependent on a location (such as flooring contractors who also have a retail location), and a fire or other insured peril causes loss of income or increased business expenses, coverage is available to compensate for those expenses and lost income. 

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There are many coverage options available for businesses.  Please contact Keystone Commercial for a free comprehensive consultation to assess your commercial insurance needs.