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contractors

Contractors Insurance

Erb and Young loves contractors! Erb and Young knows the ins and outs of the construction industry.

Contractors have a risky job and the potential for accidents is high. Keeping contractors and their employees safe is one of Erb and Young’s top priorities. A focus on safety not only leads to healthier, more dedicated employees, but also reduces insurance costs. Erb and Young insurance can provide resources and materials to its contractor clients to keep their workers safe. Erb and Young clients can utilize safety resources such as:

  • Toolbox talk materials
  • Safety related payroll stuffers
  • Safety manuals
  • Employee guidelines
  • Personal Protective Equipment Training
  • OSHA support
  • And Much More!

Contractors depend on their agent for insurance and contract knowledge because construction contracts can be complicated. It is common for parties in a construction project to transfer risk through indemnification agreements and have specific requirements for insurance. Many construction contracts require specific parties to be covered as additional insureds. They may also be required to have harmless and waiver of subrogation wording added to a policy. Contractors rely on their insurance agent to review agreements, subcontractor’s insurance, or to make sure their own coverage is in compliance.  Erb and Young agents are trained to help their clients identify exposures and compliance issues in construction contracts, so their clients can work with confidence.

The coverage a contractor needs will vary depending on the specific line of work the contractor engages in. A general contractor will have different needs than a finish carpenter or a plumbing contractor, but most end up with the same basic coverages:

  • General Liability
  • Workers Compensation
  • Auto
  • Tools and Equipment (Inland Marine)
  • Builder’s Risk or Installation Floaters
  • Coverage for property others (Bailee’s coverage)
  • Contractor’s Professional Liability
  • Umbrella or excess liability

Some contractors also work with hazardous or dangerous materials. Contractors that do mold remediation, remove asbestos, lead based paint, or Chinese drywall, work with sewage and other waste, or who’s work involves other dangerous or sensitive materials need extra coverage than what is normally provided by a general liability policy. These environmental contractors have a need for special policies that include enhanced coverage for pollution among other things.

If you are a contractor and need help controlling costs, running a more safe operation, reviewing contracts, or double checking insurance policies, Erb and Young can help.