Contractor Program

With more than 50 years of experience insuring contractors and our longstanding relationships with top-rated, financially secure insurance companies we have positioned ourselves to provide your company with a quality program that fits your financial plan. Our suite of coverages includes everything from general liability, professional liability and commercial umbrella insurance, to property insurance, builder’s risk, inland marine, business interruption and equipment breakdown, and commercial auto, employment practices insurance and workers compensation.

At the Parker Agency we use our extensive industry experience to create programs that cover the diverse exposures that contractors may have. Whether you’re working on a large project or a simple renovation, we will set you up with insurance solutions that will protect your company from unanticipated accidents, losses, and injuries while helping mitigate your risks.

In the contracting world time is everything. We pride ourselves in our responsiveness, action and follow through. Putting a comprehensive program in place for you is a start. Helping you administer this program whether it is something as simple as a certificate of insurance or as complex as a messy claim is what truly sets us apart.

Some of the important coverages that contractors should review with us due to the coverages often times being incorrect or insufficient are as follows:

Liability Insurance: Liability insurance is required by the state of New Jersey for all trade contractors. There are various types of liability insurance included in your policy: premise liability, off-premise liability, products/ completed operations liability, advertising liability, among others.

Workers Compensation: If you have any employees workers compensation is required. And in some states such as New Jersey, workers compensation is required if you are a corporation. Employees are classified by their job duties, and a rate is charged for each $100 of payroll. Class codes for contractors have an extremely wide range of rates so you want to make sure that you and all of your employees are classified correctly. Workers’ compensation ensures that employees involved in accidents are not only taken care of medically, but that they are paid at least a portion of their salary if they have to miss work.

Excess Liability: Also called an umbrella policy, excess liability provides additional coverage over and above your other liability policies (general liability, auto liability, workers compensation, etc.) They are typically inexpensive in comparison to all other policies and can be a very effective way of protecting your contracting business from a catastrophic liability claim.

Tools and equipment: So often, we as an agency see contractors grossly underinsured in this coverage area. Part of our commitment to our contractors is to ensure that they are covered properly. By utilizing our business personal property/inland marine processes checklist and coverage aggregator we will help you feel secure that if a claim occurs, you will be paid the amount that you need to replace your tools and equipment.

Commercial Auto Insurance: Even if you don’t own a vehicle in the name of your contracting company, auto insurance is essential for your business. Auto insurance not only covers vehicles that you may own, but also non-owned (employee’s vehicles) or vehicles that you may rent going to a job site as an example.