Contractors Insurance in Massachusetts

WHAT IS IT? WHO NEEDS IT? COVERAGES OFFERED

Contractors insurance is a commercial insurance that’s been specifically adapted to help manage the risks faced by contractors. Most contractor’s policies combine several coverage’s together so that the policy can offer protection against a range of possible risks.

General contractors almost always need policies, for their exposed to great amounts of risk. No matter whether they’re in residential, commercial or mixed-use construction, general contractors undertake major projects that can result in costly lawsuits and other issues if something goes wrong.

General Liability Coverage
Contractors Liability Insurance Coverage
Contractors Equipment Coverage

What is Contractors Insurance?

Constructing and working on buildings comes with a lot of responsibility, and that responsibility exposes contractors to various risks. Liability lawsuits, injuries and damaged equipment are just some of the perils that plague contractors in Massachusetts. Getting a robust contractors insurance policy is one of the ways contractors can help protect themselves.

Contractors insurance is a commercial insurance that’s been specifically adapted to help manage the risks faced by contractors. Most contractors policies combine several coverages together so that the policy can offer protection against a range of possible risks.

What Contracting Businesses in Massachusetts Are Contractors Policies For?

Most Massachusetts contracting businesses can benefit from having a contractors policy, and many may be required to get one. Without a policy in place, contractors may have a hard time obtaining permits or finding clients who will hire them.

General contractors almost always need policies, for they’re exposed to great amounts of risk. No matter whether they’re in residential, commercial or mixed-use construction, general contractors undertake major projects that can result in costly lawsuits and other issues if something goes wrong.

Artisan contractors, at least in some cases, may not be exposed to as much risk as general contractors. Nevertheless, plumbers, electricians, carpenters, roofers and even painters can be held responsible for accidents and/or have equipment stolen. Therefore, these and other artisan contractors may still want a policy even if their risk exposure isn’t the same.

In a few cases, artisan contractors who aren’t in the construction industry might still benefit from a contractors policy. Exterminators, interior decorators and other skilled tradespeople should review their particular situation with an informed insurance agent to see whether this is the right type of policy for them.

TESTIMONIALS

Customers Love Us

When I called the staff at Paul T. Murphy Insurance, they explained how auto reform would allow me to increase coverage and save money at the same time. I moved my home and umbrella insurance to my current auto carrier and saved over $350. In July 2008 when my auto insurance renews with Safety Insurance, I will save another $300 just for having my auto and home insurance with the same company. The staff at Paul T Murphy Insurance Agency really understands the new Massachusetts reform and how to pass savings and additional coverage to their clients.

Frank

Winchester, MA
After many years of doing business with the Paul T. Murphy Insurance Agency, I am thrilled to learn of this relationship with Northrup to service the Lynnfield area. I have trusted both my personal and business policies with Paul and have never received less than the best of service. I like the face that they service as professionals but treat you like a friend. Recently during a complicated Workers Comp claim, Paul showed up to walk me through what I thought would be a mess of paperwork and confusion – the personalized service I receive spoke volumes. I have never gotten service like that from anyone else. I also like the fact that they are always ready to save me money without ever compromising my coverage.

Tony Bartolo

Lynnfield, MA
One of the best business and personal decisions I ever made was to collaborate with Paul Murphy Insurance Company for our families insurance needs. Starting with our business policies, then eventually all of our personal policies, we have slowly transitioned all to be managed by PMI. Many companies loosely tout that they treat you as one of the family; PMI proves it in their actions. We are glad we are part of their family.

Kelly Ilebode

Boston, MA

What Coverages Come with Contractors Policies?

In order to meet different contractors’ varying needs, insurers offer different coverage combinations in their contractors policies. In a particular policy, contractors might find the following property insurance protections and contractors liability insurance protections:

General Liability Coverage, which may cover common accidents and select lawsuits
Contractors Liability Insurance Coverage, which may cover work-related errors
Contractors Equipment Coverage, which may cover certain equipment breakdowns
Equipment Leased or Rented from Others Coverage, which may cover non-owned equipment
Inland Marine Coverage, which may cover equipment that’s being transported between locations
Commercial Auto Coverage, which may cover company-owned vehicles
Commercial Property Coverage, which may cover company-owned facilities

As is generally true with liability coverages, the contractors liability insurance coverages included in a policy will normally help pay for legal fees and settlements associated with covered claims. Coverage usually isn’t dependent on whether a contractor ultimately wins or loses the case.

Is Workers Compensation Coverage Included in Contractors Policies?

Workers compensation coverage, which normally covers on-the-job injuries, usually isn’t included in contractors policies. Instead, most contractors that need this coverage purchase it as a separate policy. Insurance agents who specialize in contractors policies often also can help with workers compensation policies.

How Much Do Contractors Policies Cost?

Contractors policies range in price, and it’s impossible to give a single quote for every contracting business in the state. Some of the factors that might affect how much a particular business pays for coverage include the type of work the business is in, the size of the business, the equipment that the business uses and the location of the business’ jobs.

Businesses that want an accurate idea of how much a policy will cost them should talk with an independent insurance agent who can get quotes from several insurers. A selection of quotes based on a business’ particular situation will reveal how much a contractors policy will cost that specific business.

How Can Massachusetts Contracting Businesses Get Contractors Insurance?

To speak with an independent insurance agent who’s familiar with the nuances of contractors insurance policies, contact Paul T. Murphy Insurance. Our independent agents have helped many Massachusetts contracting businesses find the coverage they need, and we’d be happy to assist your business as well.

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This material is for informational purposes only. All statements herein are subject to the provisions, exclusions and conditions of the applicable policy, state and federal laws. For an actual description of coverage, terms and conditions, please refer to the applicable insurance policy or check with your insurance professional. The illustrations, instructions and principles contained in the material are general in scope and, to the best of our knowledge, current at the time of publication.

What is Contractors Insurance?

What Contracting Businesses in Massachusetts Are Contractors Policies For?

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TESTIMONIALS

Customers Love Us

Frank

Tony Bartolo

Kelly Ilebode

What Coverages Come with Contractors Policies?

Is Workers Compensation Coverage Included in Contractors Policies?

How Much Do Contractors Policies Cost?

How Can Massachusetts Contracting Businesses Get Contractors Insurance?

Receive a Free Contractors Insurance Quote!