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Contractor Insurance

Contractors, during the course of their work, encounter many risks. Whether a contractor is a sole proprietor or the owner of a larger company, mistakes, accidents, and other disasters can and do occur. These problems can be costly and instantly drain a contractor’s resources.

Do you have ALL the insurance you need? Our job is to make sure you do!

General Liability: EVERY contractor needs to have this insurance to cover bodily injury or property damage that can occur on the job. This insurance covers a contractor for claims and lawsuits arising during AND after the completion of the project. *Ask about the dangers of a lapsed policy.
Worker’s Comp: If you have employees, California state law requires that you carry workers’ comp insurance. This covers an employer’s obligation to an employee who is injured on the job, and includes medical payments and loss of wages. The payments to employees are in exchange for relinquishment of the employee’s right to sue the employer and negligence is not an issue.
Inland Marine (Tools & Equipment): This covers your tools and equipment for theft and destruction by outside forces (i.e. fire or flood). The tools will covered wherever they are, whether on the job, in the truck, or at back at the shop. This is very important to have nowadays, due to the rise in crime. *Ask about how to insure rented or borrowed equipment.
Commercial Auto: This insurance is used to cover physical damage to any owned, leased, hired, rented, or borrowed private passenger autos, trucks and trailers that are owned and used by in the business, and includes liability coverage for bodily injury and property damage caused by an accident for which the insured is responsible. Other coverages, such as towing and glass breakage, are also available. *Ask about non-owned auto coverage.
Builders Risk: Builder’s risk insurance is a special type of property insurance which insures against damage to buildings while they are under construction. Builder’s risk insurance is coverage that protects a person’s or organization’s interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure.
Excess Liability: Excess liability coverage is insurance coverage above the limits of the underlying policies, such as general liability, commercial auto, and as an option, the additional employer’s liability portion of the workers’ comp. After the basic policy limits have been exhausted by claims, this policy will pay the excess above that amount up to its own limits.
Pollution Liability: Contractors Pollution Liability insurance helps protect contractors from both liability and financial loss that can result when a covered operation results in a pollution accident. This coverage applies to both the contractor and the subcontractors. Federal government standards now identify and list over 2,000 pollutants of which many are your job site.
Rigger’s Liability: This insurance covers a contractor’s liability for damage to the property of others while in the his/her care, custody, or control and liability that can arise out of the moving of property and equipment belonging to others, such as with a crane.
Bonds: The State of California requires that every licensed contractor maintain a Contractor License Bond to keep his/her license active. In addition, other jobs require a performance bond or a Bid Bond. Wise Insurance offers every type of bond a contractor will need, regardless of his credit history.