Many contractors are unaware that their personal auto insurance coverage does not cover their work related driving. In fact, contractors that use their primary vehicle for both business and personal use may be denied coverage if they get into an accident during non-business related driving. Auto insurance alone is typically not sufficient enough to cover business related driving liabilities. Having the right Contractors Insurance in Massachusetts helps keep a business completely covered from any gaps that may exist in non-contractor specific auto policies.
Protection for All Vehicles Used In the Contracting Business
A thorough contractors insurance policy will cover both vehicles that are owned by a business and those that are rented or owned by employees. Most auto policies will only cover those owned by a business, leaving business owners often liable for any accidents that occur with non-owned vehicles used during workdays. Contractors policies can be extended to cover non-collision damage, theft, vandalism, equipment failure, and certain breakdowns in operations that occur as the result of vehicle issues.
Contractors that are uncertain as to what possible risks and exposures they face should take advantage of a risk management assessment in order to get a clear overview for their specific needs. Providers of Contractors Insurance in Massachusetts will ensure that every policy is custom fit to the contractor and their business, leaving no gaps or unnecessary exposures. Having proper coverage isn’t just about being compliant with laws and standards; it can save a business from massive financial difficulties.