“He who works with his hands is a laborer. He who works with his hands and his head is a craftsman. He who works with his hands and his head and his heart is an artist.” – St. Francis of Assisi
If you own your home or if you rent your home, then you might often marvel at the quality of the craftsmanship and sheer artistry of the finished workmanship. As the homeowner or renter, you might consider the carpenters, plumbers, electricians, brick masons, concrete workers, or landscapers who played a role in making your home beautiful, comfortable and safe. But the craftsman or craftswoman, on the other hand, needs to understand artisan contractors insurance.
Defining artisan contractors…
The Insurance Information Institute (III) offers that artisan contractors are also referred to as “casual contractors.” They are skilled and often work with their own special equipment and tools at a customer’s home or commercial business location. These contractors include those referenced above, as well as roofers, tree surgeons, interior decorators, exterminators, piano tuners, just to name a few.
Our regular readers may remember, we touched on this topic from the homeowner’s point of view: Items to Consider When Home Improvements Include a Contractor. But now we want to provide an overview or conversation starter for artisan contractors. At John Bailey Insurance, we understand contractors require premium insurance coverage to safeguard their business, assets, tools and employees. Our insurance packages for contractors are customized to consider whether the contractor is a small, midsize general contractor or a specialized craftsman.
Insurance coverage artisan contractors should consider…
For a craftsman or craftswoman, learning their art or trade will be the first step. Many will serve as apprentices, move on to becoming a journeyman and finally may be judged as a master craftsman. Some skilled craftsmen will be part of a trade union, but often after working for a company they will decide to start their own contracting business. It is at this point that they must consider what coverage or policy types should be part of their insurance package. For example:
- Business owners policy (BOP) – which can include property insurance, liability insurance, business vehicle insurance and workers compensation insurance.
- Installation floater or installer’s floater – according to III, this type of floater “covers all kinds of machinery and equipment during transit, installation and testing at a customer’s premises. Even building materials may be covered, but the more usual coverage is for equipment or machinery that only contractors install, such as heating or air conditioning. The policy can be written to cover a single job or on a reporting form, meaning that you provide the insurer with information about each new contract you undertake.”
- Tools and equipment floater – Property insurance which covers equipment that an artisan contractor would often move from place to place. This equipment could be special hand tools, power pumps, hoisting machines or power drills. This is a form of Inland Marine insurance.
Is it time to review your artisan contractors insurance package?
2017 is coming to a close and soon we will welcome in the New Year. If you are an artisan contractor and have questions about the current state of your insurance coverage, then we would love to talk with you. Our experienced John Bailey Insurance Agency team can review your current coverage and work to lower your risk and safeguard your contractor business with tailored strategies.