Texas Artisan Contractor Insurance
Artisan contractors are those that provide specialized skills, such as electricians, plumbers and carpenters. Texas artesian contractor insurance is generally issued to small specialized contracting companies that have less than 10 employees. In Texas a large percentage of Artisan contracting companies are family owned, and considered too small for large insurance companies to work with.
The Texas Department of Insurance (TDI) allows four types of companies to provide Artisan Contractor Insurance: Licensed Insurers are guaranteed by the TDI for up to $300,000 per claim; TDI eligible Surplus Lines Insurers; Risk Purchasing Groups; and Risk Retention Groups.
General Liability Coverage
General liability insurance is important for all artisan contractors in Texas, because it helps prevent your company from losing everything if an unexpected accident occurs. Texas Artisan Contractor Insurance with general liability coverage pays settlements, judgments and legal fees if your company is sued or found liable for a physical injury that happens related to your company, or property damages that occur. These protections apply at your place of business as well as on site work environments.
General liability further protects you from potential slander or misleading advertising accusations, and physical or property injuries that occur as a result of work services and products your company provided.
Texas Artisan contractors are skilled professionals who invest heavily into the tools of their trades. Plumbing contractors invest in specialized pipe cutters, wrenches and snakes, while carpenters and roofers have their own cadre of tools that are integral to getting each project finished skillfully. Losing tools due to theft and damages could be quite expensive for your company to replace.
Contractors often travel extensively to provide the full range of their services to customers. Generally, the more frequently you or your employees drive from one jobsite to another, the higher your risk is for potential auto accidents. Artisan contractor insurance for automobiles provides an extra layer of protection against those increased risks.
Workers compensation coverage is regulated by the state, and designed to provide for medical care and other expenses if an employee is injured or becomes ill on the job. While some states mandate this coverage, in Texas it is optional for private employers as long as proper reporting procedures are in place. Carrying this coverage helps limit your liability however, if an employee decides to file a lawsuit over his injuries. This benefit makes it much less risky for artisan contractors who employ others.
Excess liability insurance is often referred to as umbrella coverage. It is designed to protect you when events occur that max out the total claims benefits covered in your general liability policy.