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Artisan contractors include skilled workers such as electricians and carpenters who are able to handle specific aspects of construction projects, handle specific aspects of construction projects, coordinate changing priorities, and meet tight deadlines. Respond, complete projects safely, and many other missions. (Photo: gmcgill/Adobe Stock)With the home improvement boom of the past few years well documented and a projected increase in construction projects reported by the Associated General Contractors of America, artisan contractor expertise continues to be in demand.
According to the U.S. Bureau of Labor Statistics, overall employment of construction workers is projected to increase by 7% from 2020 to 2030. This includes craftsman contractors.
Artisan contractors – a broad classification of skilled workers, such as electricians and carpenters, with expertise that can handle specific aspects of a construction project, allowing general contractors to focus on the overall project – are subject to changing priorities. to balance tight deadlines and safe completion of projects.
For craftsman contractors, unforeseen events such as tripped ladders or stolen equipment on customer premises can be disruptive and costly setbacks that can affect business success. there is.
Below are some key considerations that can help craftsman contractors protect their business, employees, and property.
Appropriate insurance coverage
One of the most important elements in protecting your hard-earned business is insurance personalized to your business’s specific needs (operations, specialized tools and equipment, liability, commercial vehicles, etc.). Talking to an experienced local insurance agent can help you understand your coverage options so you can choose coverage that protects your business.
Prevention of occupational accidents
Workplace accidents can occur even when precautions are taken, but labor can help cover the financial costs associated with certain employee injuries and illnesses that may occur during the course of employment. Make sure you have a personal accident compensation policy. Employer liability coverage – which may be included in workers’ compensation policies or sold separately in some states – covers the employee liability for which an employer may be held liable. Designed to help employers cover additional costs arising from work-related injuries and illnesses.
To prevent employee accidents and injuries from occurring in the first place, consider the following:
- Implementation of accident prevention and loss management programs.
- Require employees to participate in occupational safety training and document attendance.
- Conduct regular safety inspections, including inspections of tools, equipment, machinery and vehicles to ensure they are in good condition.
- Provide employees with personal protective equipment (PPE).
Tool and equipment protection
Business private property coverage is often limited to a specific location. This means that business equipment may not be covered in the event of accidental loss or theft away from the location described in the policy. Since tools and equipment are frequently brought to different job sites, contractors should consider coverage options that are not limited to designated locations.
Insurance coverage that may be considered includes contractor tool and equipment coverage that does not limit coverage to the intended location, and contractor installation coverage for materials that are to be installed at the job site or storage location. included.
To prevent your equipment from being stolen or misplaced, consider the following:
- Maintain an inventory of required equipment for each site and review checklists before leaving the facility. We have a digital tracking system that can simplify the process.
- Locking or securing expensive equipment when not in use.
- Paint or engrave your tools to avoid mix-ups.
Protection of commercial vehicles
Business means are another important part of a company and can affect your ability to do your job. To protect your vehicle investment, consider contacting an experienced local insurance agent to double-check commercial auto insurance coverage and ensure you have the coverage you need.
To prepare for the unforeseen, it’s a good idea to ask yourself if you have another vehicle that you can use to continue your business, or if you need a rental car while your vehicle is in the store for a period of time. increase. You may also need to consider the value of any special equipment you own when determining the appropriate coverage limit for your commercial auto insurance policy. Whether the truck was wrapped in a company logo, the pickup was fitted with a toolbox, or a special rack was installed. carry a ladder? All of these add value to your vehicle for your business.
To avoid bringing your commercial vehicle to a repair shop, consider the following:
- Carry out regular maintenance of the car.
- Hire an experienced driver with a clean driving record to operate your vehicle.
- Implementation of a safe driving program.
Notify your agency when you have a new employee authorized to drive a vehicle so that they can update their list of drivers for the Commercial Motor Vehicles Policy. A claim that an unlisted driver is driving a commercial vehicle may affect your insurance premium.
With Liability Coverage in Mind
Even if you were hired through a general contractor, a customer may claim that your work caused damage to their property. They may claim that you are responsible for water damage caused by a broken condensate line or a sprinkler system installed too close to the building. These claims can be costly and may require business liability coverage.
Investing in protection — for the benefit of your business and your customers
As a craftsman contractor, you have become an expert in your craft and have invested a lot of time and resources to build your business. Protecting your business with a sound and comprehensive insurance plan can help you rebuild your business should the unexpected happen. Furthermore, by letting our customers know that we give due consideration to your business, whether you are a general contractor or an individual, to invest in insurance policies that help protect you, your employees and your customers. You may be able to increase your professional credibility with your customers. jobs.
Therefore, it is of utmost importance that craftsman contractors across the country, whether electricians, plumbers or painters, seek ways to protect their livelihoods. is often accompanied by
John McGowan is the Business Underwriting Director for Farmers Insurance.
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