As a business owner, you’re likely looking into contractor insurance. This can get fairly extensive, but there are some coverages that all contractors need, regardless of their specific industry. CO Insurance Specialists has the answer for your contractor insurance questions.

General Liability

No matter what type of business you run, general liability coverage is essential. This coverage helps address accidents caused by third parties on your property, covering property damage or bodily injury resulting from the incident. If legal claims arise from the situation, those are typically eligible for coverage as well.

Workers’ Compensation

If an employee is injured while working for you, workers’ compensation insurance can help. It covers medical expenses resulting from the injury, along with any lost wages, physical therapy, and ongoing medical care related to the accident. Workers’ compensation is required in Colorado for employers with one or more employees.

Commercial Auto Insurance

As a contractor, you likely have one or more vehicles associated with your business. If employees use those vehicles, you’re required to carry commercial auto insurance. This provides broader coverage and financial protection from damages, even if your employee is found at fault. If products are damaged during delivery or transport, that loss can typically be included in the claim as well.

If you’d like more information from a CO Insurance Specialist in the Wheat Ridge area, contact us today with your business information, and we’ll help you find a contractor’s insurance policy that fits your needs.

---

Contractors who rely on expensive tools and machinery in their daily work can benefit greatly from contractor’s equipment insurance. This type of coverage helps protect valuable equipment used by professionals in Wheat Ridge, CO, such as carpenters, landscapers, electricians, and other tradespeople.

What Does Contractor’s Equipment Insurance Cover?

Contractor’s equipment insurance typically covers tools and equipment while they are being used at a job site or stored off-site, provided the storage location is not owned by the business. Coverage may apply if equipment is stolen, vandalized, or damaged during use, provided the damage is not the result of operator error.

Some policies may also extend coverage to rented equipment, provided the damage occurs while the equipment is in storage or being used on a job site. This can be especially helpful for contractors who frequently rent specialized tools or machinery.

What Is Not Covered?

Contractor’s equipment insurance does have limitations. Most policies do not cover equipment while it is being transported. Damage caused by normal wear and tear, poor maintenance, or operator error is also excluded. In addition, damage resulting from certain natural disasters, such as floods or severe storms, may not be covered unless specifically added to the policy.

Insurance companies also set minimum standards for insurable equipment. If tools or machinery are outdated or not well-maintained, an insurer may decline coverage.

Call CO Insurance Specialist to Purchase Contractor’s Equipment Insurance

Contractor’s equipment insurance plays an important role in protecting the tools and machinery you depend on every day. The team at CO Insurance Specialist understands the unique needs of contractors in Wheat Ridge, CO and provides personalized service and knowledgeable guidance. Contact us today to learn more about contractor’s equipment insurance, explore additional coverage options, or request policy quotes