Available in all 50 states!
Available in all 50 states!
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At Bankers Insurance, the client is always in control.
Our contractors work hard on the job, plying their trade and working as a team. In the same way, Bankers Insurance brings a stable of tools, resources, and specialists to bear on every one of our contractor clients. You are an expert in your trade, let us demonstrate how we are in ours.
Whether you work residential, commercial, or industrial, we have an insurance program sized for you. For decades, we have served general contractors and trade contractors alike, protecting their businesses. And we don’t only provide insurance products. Bankers Insurance is a tool in your toolbox to advise regarding contractual risk transfer, safety management, and host of complementary services to aid your business in the areas of benefits, human resources, and management.
Let Bankers help you build a stronger business and protect your investment so that when a claim arises, you aren’t in doubt as to your standing. That’s why we are here. That’s what we do. It’s our trade.
How we helped clients fill hidden coverage gaps, save money, and organize their insurance program.
General Liability protects a contractor in the event they damage something or hurt someone. It also includes coverage for completed operations, should they become liable for damage due to their finished work. It is what we term a foundational coverage, one of the most important insurance policies for contractors. Damage to their own work is excluded as the policy is not designed to cover defective workmanship. It also excludes injury to a contractor’s employees as that is properly covered elsewhere. Claims examples are a good way to explain the coverage.
Business auto is a form of contractors insurance that protects against auto-related claims. It can include coverage for passenger type vehicles, pickups, vans, dump trucks, tool trucks, and even semi-tractors. Trailers are also covered under a business auto policy, but unlike personal insurance, they must be listed on the policy for coverage to apply. Reference our business auto page for full details, including a list of covered auto symbols to help decrypt your insurance policy.
Coverages can include
Workers Compensation insurance is usually a separate contractors insurance policy, but a key coverage nonetheless. In the event of a work-related injury, it pays for the employee’s medical bills and a portion of lost wages.
Contrary to popular belief, health-related expenses are unlimited under this coverage. The largest claim we have ever received was for workers compensation for a relatively small policy. Limits shown on the policy are for the employer’s liability portion of the coverage which is rarely enacted. View our workers compensation page for more detail.
Many clients run into a situation where higher limits of insurance are needed on their contractors insurance package. It can be an insurance requirement to bid on a particular project, or simply that the business has grown to the level where extra protection is warranted. Umbrella liability increases the limits of underlying coverages. Umbrella liability can over top of general liability, business auto, and workers compensation. Read More about Umbrella Insurance
Inland marine insurance is designed to cover a broad range of assets. Generally, if items stay inside or near a building, they are insured as contents of that building. However, coverage is reduced or removed altogether if they are moved off the premises.
With contractors, tools and equipment move around from garage to job site to job site. Inland marine covers that exposure. It can include:
Builder’s risk insurance is meant to cover a structure being constructed or under renovation. Buildings in such a state are subject to different risks than ones that are being used in their final capacity. Builder’s risk covers this exposure. It is based on 1) replacement cost at the beginning of the policy, 2) estimated replacement cost at the end of the policy, and 3) projected construction timeline. Bankers insurance has access to arguably the best builder’s risk insurance company in the country and can insure almost anything under construction.
Property can be a part of any contractors insurance package. Cover your shop, warehouses, storage, out buildings, contents, and even business income. Read More about Commercial Property Insurance
When bidding larger projects for municipalities or government, the subject of bonding often arises. A contract bond is a guarantee that the contractor has the capability, capacity, and will complete the project. Bankers Insurance can handle your contract bonds and bid bonds with ease. Up to $350,000 can be bonded straight from credit score. Or complete a more thorough application and any limit is possible.
Traditional (larger) contract bonds can take time, so don’t delay applying. Once a business is approved, subsequent bonds are much faster. Financials are submitted to the bonding company once per year to renew status.
Anyone can be an order-taker. Bankers Insurance is different.
We offer choices and expertise. We don’t expect clients to be contractors insurance experts. Take advantage of our experience. We can explain your options and help you determine the right coverages.
As your insurance agent, we strive to know you. Only then can suggest the coverage that suits your specific business. We look for coverage gaps to help ensure complete protection. With us, you get the benefit of:
Each one of our clients is assigned a specific insurance agent in our office. You will have the phone number that rings on their desk. And each agent has a backup in case they are out for any reason. Though any one of our agents can help, nothing beats speaking with the person familiar with your account.
Bankers Insurance is local. Our agents live in the local community. No one enjoys talking to an 800 number or exchanging email when in urgent need of service or if a claim has arisen.
We serve our clients with dignity and provide “no excuse” customer service.
Want to pay for your contractors insurance directly to the company? Monthly? By credit card? Through escrow? We can find a billing option that suits you.
Product and service are important, but with Bankers Insurance you also get low pricing. Our insurance companies compete for your business, resulting in low prices for you.
We represent top rated insurance carriers, verified by AM Best. Our contractors insurance products are designed to meet a variety of needs. We tailor insurance coverages to you.