There is no such thing as "One Size Fits All" for contractors insurance.

Packaged insurance policies can be very deceiving.   After all they look very much the same and they cost pretty close to the same. 

You can get quotes from twenty different insurance companies offering a small contractors insurance package in today's market.   It is easy to get the impression that it really does not matter who you deal with, that the policies are all pretty much the same.  




Every one of these small contractors insurance policies has a tool floater.  Tools are usually the number one thing that small contractors are most concerned about losing.   How many of these small contractors insurance policies actually offer the "full meal deal" of protection from loss of your tools like they promise?

Let's take a look at two types of carpenters, as an example.  One is a framer, and one is a finish carpenter.  

The framer is likely to gather up all his tools and put them in his trailer at the site and lock em up.   

The finish carpenter is likely to leave his tools inside the building, lock it up, and go home.  

But, only a hand full of the tool floaters offered by these twenty different insurance companies may actually cover tools left inside a the building being constructed.

The finish carpenter may find out after he has suffered a loss that his tools are not covered unless he put them in his trailer and locked it up or took them home each night.  

A policy that is ideal for one contractor may not be of much use to another.  

This is just one example of why it is important to deal with someone who is familiar with the contractor industry.  The more your broker understands the contracting business the better.  

Contractors insurance policy are often given names like "ToolBox", "Contractor's Pro", or "The Artisan" giving the impression that they are perfectly suited to every need.  These packages are often just a start to building the right insurance program for a contractor.  

Clarke insurance offers specialized insurance packages for contractors.  We have analysed most contractors packages available in the market and have made comparisons.   Our brokers are more than familiar with contractors.  In most cases they have been contractors themselves.  





A Word On Risk Management

Risk Management is not complicated. 

First it is identifying a risk.  If you have ever taken a course related to workplace safety you know what risk management is.  Identifying what can happen and taking steps to prevent it's occurrence or minimize the severity of the event, is risk management. 

Knowing a risk exists is the first step in managing it. 

Once a risk is identified, one can take certain steps to transfer, minimize, or eliminate it's effect. 

Insurance is the most common way to transfer risk to someone else.  By paying a premium you can insulate yourself from the financial affects of the event you fear.  If insurance is not available, or transfer of risk is impossible, direct action and intervention may be required.