TWFG Services Artisan Contractor Insurance – affordable contractor liability coverage

The Texas real estate boom has meant that there is a huge increase in the number of carpenters, plumbers, electricians, gardeners, decorators, and many other skilled professionals required to design, build, and maintain properties. These workers are often referred to as casual or artisan contractors. This group of workers requires special insurance needs covering equipment and tools that often are shuttled regularly between multiple job sites. For many artisan contractors, the most cost effective and efficient way to obtain property and liability coverage is business owner’s policy tailored to their needs.

With regard to business property, your policy will typically cover real estate and other property that your business owns. If your business rents or leases, you are covered for most tenant improvements and betterments, including improved/new fixtures, alterations, and/or installations. It is likely that your largest potential loss is with unique and valuable equipment that moves from job site to job site. This type of property is not typically covered by standard property insurance. To cover such property, you will need to purchase floaters; a floater is a special insurance product that can cover specific equipment throughout transit, installation, and use.

Much of the casual contractor work is dangerous and as such you almost certainly need liability insurance to protect you from lawsuits claiming harm from your work. In some cases, you may be required to carry Owners and Contractors Protective Liability (OCP) coverage. This type of coverage protects a property/business owner or a general contractor from possible liability arising from the negligent acts of your work as an independent contractor or subcontractor. While you purchase the product, it is designed to protect the property/business owner or a general contractor who hires you.

While your personal auto insurance may provide some coverage if you use your vehicle for work, but if you use your vehicle primarily for business you will need a business auto policy. Additionally, if a vehicle is owned by the business, you must have a business auto policy.