As a contractor, you need business insurance tailored to your needs.
Workers compensation, businessowners policy, and more--Markel Specialty brings you the insurance coverage you need for your business.
Not only are you a contractor, you’re a business owner. You have probably spent more than one sleepless night thinking about what could go wrong, but may have become frustrated by the lack of offerings, the prices, inadequate customer service, or just the simple fact that these policies didn’t seem to take your needs into account.
A Markel Specialty insurance policy is designed specifically for residential and commercial building services contractors. Our policy is uniquely suited to your business needs. We can even cover the tools you need to get the job done.
Insurance coverages are available for a wide range of contractors including:
- Carpet and rug cleaners
- Electrical contractors
- Fence contractors
- Finish and trim carpenters
- Landscape gardening and lawn sprinkler installers
Why do you need contractor insurance?
Your small business is not too small to have someone file a claim against you or to have an injured employee file for workers compensation. And from accounts receivables to water damage, you can get the coverage that your business needs . . . and deserves!
Our workers compensation policy can help you protect your business from the costs of a covered, on-the-job accident including lost wages and benefits, medical care, and legal representation. Our businessowners policy is customizable to fit your business needs covering liability, property, and other areas essential to helping you protect your business. Plus, if you combine our workers compensation and businessowners policies you can earn up to a 10% multi-policy discount.*
Additionally, Markel Specialty offers optional coverages of your valuable tools and equipment. Or if you deal with toxic chemicals, you can add pollutant clean up and removal coverage. Bottom line: if you are involved in the building trades, an artisan contractor, or deal in residential or commercial building services you can customize your contractors’ insurance coverage to match your business needs.
You may qualify for coverage if your business:
- Subcontracts less than 25% of your company's work
- Performs work 2 stories or less
What insurance coverages are available for contractors?
Businessowners policy (BOP)
Markel Specialty's businessowners policy product, EssentialBOP, combines the general liability and property coverages you need to cover your construction and contracting business. You can choose from three levels of coverage: Essential, Essential +1, and Essential +2. Pick the one that best fits your business and your budget.
|
Coverage |
Essential |
Essential +1 |
Essential +2 |
|
Accounts receivable |
$10,000 on premises |
$25,000 on premises |
$50,000 on premises |
|
Damage to premises rented to you |
$50,000 |
$100,000 |
$300,000 |
|
Electronic data |
$10,000 |
$25,000 |
$50,000 |
|
Employee dishonesty |
Not included |
$5,000 |
$10,000 |
|
Money and securities, inside the premises |
Not included |
$15,000 |
$25,000 |
|
Money and securities, outside the premises |
Not included |
$5,000 |
$10,000 |
|
Outdoor signs – attached |
$1,000 |
$2,500 |
$5,000 |
|
Outdoor signs – unattached |
$2,500 |
$2,500 |
$5,000 |
|
Valuable papers and records |
$10,000 on premises |
$25,000 on premises |
$50,000 on premises |
Property
Commercial property insurance for your construction or contracting business provides insurance coverage to help protect you when fire, theft, or vandalism damages or destroys your covered building or equipment. Property insurance also covers your property that isn't brick and mortar, like accounts receivable, business income, and interruption of computer operations.
- Buildings – protects owned building
- Business personal property – protects your business contents and equipment at your office
- Contractors’ installation, tools, and equipment – coverage for the tools of your trade at the shop, in the truck, and on the job site
Liability
General liability insurance, or business liability, is an essential coverage that can protect you from unexpected but not uncommon claims arising from your daily business operations such as bodily injury, property damage, and personal injury.
- Additional insured – by written contract, agreement, permit, or authorization
- Damage to premises rented to you
- Personal and advertising injury – caused by an offense
Workers compensation
Workers compensation helps you protect your business by transferring risk to an insurance provider.
Our workers compensation policy covers covered expenses resulting from on-the-job injuries. As long as the injury occurs during the normal scope of job duties, workers compensation insurance benefits, such as lost-time payments and medical and rehabilitative services, are applicable including:
- Lost wages and benefits
- Medical care and rehabilitation services
- Legal representation and compliance services
Your Markel Specialty's workers compensation policy also includes access to medical case managers. They will handle the claim and coordinate return-to-work and light-duty programs that control costs.
Employment Practices Liability (EPL) coverage
Add our optional Employment Practices Liability (EPL) endorsement to further protect your business from an employee claim against you such as sexual harassment or wrongful termination.
The EPL endorsement also gives you special access to markel.employerprotection.net. At this easy-to-use site, you can view and download employment resources such as:
- A model employee handbook
- Employment practices checklist
- Model forms and policies
- OSHA fact sheets
- An extensive online library of employment related articles
Background checks, training materials and education available at negotiated rates.
PayGo Payroll reporting is the billing plan of choice for workers compensation policyholders.
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Contact one of our appointed Markel Specialty agents and start a quote today.
Related programs
*The discount applies to businessowners policy only. Multi-policy discount not applicable to Equipment Breakdown Protection and Employee Practices Liability Insurance endorsements.