Contractors Insurance in Vermont

Request a Quote for Contractors Insurance

Who in Vermont needs to carry contractor liability insurance?

Contractor liability insurance is recommended for most professionals working in construction or the skilled trades. A single incident could have costly consequences if there isn’t insurance in place.

Because these policies have many liability coverage options, they’re able to insure a wide range of businesses in construction and the trades. For example, the following professionals and businesses might get this type of policy:

• General contractors
• Commercial developers and contractors
• Residential developers and homebuilders
• Specialized marine construction companies
• Carpenters, framers, and roofers
• Plumbers, electricians, and HVAC techs
• Commercial landscapers

Of course, property coverages are also strongly recommended for valuable assets that a business owns.

What contractor liability insurance protections do contractor policies offer?

Contractor liability insurance coverages normally protect against certain situations where a contractor could be held financially responsible for causing harm. There are a few contractor liability insurance coverages that a policy might offer:

• General Liability Insurance: Might insure against common accidents that result in injuries or property damage, often including accidents at the contractor’s premises or on job sites.
• Commercial Auto Insurance: Might insure against auto accidents involving the contractors vans, trucks, or other work vehicles. Often also covers non-collision incidents that cause vehicle damage.
• Commercial Umbrella Insurance: Might insure against lawsuits that exceed the coverage limits of other liability insurance coverages.

What property insurance protections are available through contractor policies?

Property coverages can provide important protections for the assets that a contractor or trade business owns. They often shield covered assets against many perils that could cause loss or damage. There are several property coverages that a policy can offer:

•  Commercial Building Insurance: May cover any office, storage facility, warehouse, or garage that a contractor’s business owns.
• Commercial Contents Insurance: May cover items stored at a facility or other building, often protecting equipment, tools, materials, computers, and other items.
• Builders Risk Insurance: May cover items, including equipment, tools, and materials, when they’re at a job site. Often also covers structures being worked on against damage.
• Inland Marine Insurance: May cover equipment, tools, and materials as they’re driven to/from job sites.
• Equipment Breakdown Insurance: May cover essential equipment in the event of an unexpected breakdown.

What kinds of work are contractors policies able to provide coverage for?

Contractors policies can be customized to cover a wide range of construction and trade work. It’s usually easy to find policies for new construction and development, renovation and remodel work, and skilled trade work.

This isn’t to say that every policy is suitable for every type of work, however. An insurance agent who knows contractor policies well can help professionals find a policy that’s designed for what they do.

Do contractors policies come with construction bonds?

Construction bonds are technically different from traditional insurance policies. Both are regularly underwritten by insurance companies, however, and a knowledgeable agent can likely assist with each. If one is needed, a construction bond usually can be purchased at the same time as a contractors policy.

How much are the insurance premiums that contractors pay?

The premiums that contractors pay for their insurance policies vary substantially. A contractor’s field, specific jobs, equipment, training, and claims are just some of the details that can impact cost. 

The easiest way to find out how much insurance will cost is to work with an independent agent. Whereas captive agents are connected with a particular insurer, independent agents aren’t — they can check quotes from several insurance companies.

Where can contractors and tradespeople in Vermont find contractors insurance?

If you need help finding contractors insurance that fits your business’s needs, contact the independent insurance agents at Palmer Insurance. We’ve helped many Vermont professionals find the insurance they need, and we’ll make sure you find a contractors policy that’ll keep your business protected well.