Insurance Considerations for Artisan vs. Independent Contractors

Understanding suitable contractors insurance is essential for anyone working in this subsector. Whether you’re an artisan contractor specializing in skilled trades or an independent contractor offering a range of services, having the right coverage can make all the difference for your business and its financial security.

What Sets Artisan and Independent Contractors Apart?

Artisan contractors typically focus on specific trades and skills, such as carpentry, plumbing, electrical work or masonry. Independent contractors, on the other hand, often offer a broader range of services and often work on a project-by-project basis. While both types of contractors face risks, their insurance needs may vary according to operational details.

Key Insurance Coverages

Consider how the following types of insurance may apply to independent and artisan contractors’ coverage needs:

• General liability insurance—This is often essential for both artisan and independent contractors, and can help financially protect against claims of property damage, bodily injury or reputational harm that may occur during your work.
• Professional liability insurance—As a critical component of contractors insurance, this coverage can help manage claims related to alleged mistakes, missed deadlines, negligence or omissions in your work.
• Commercial auto insurance—If you use vehicles for business purposes, such as transporting tools or traveling to job sites, commercial auto insurance is typically required by law. Even independent contractors using personal vehicles must retain coverage.
• Tools and equipment coverage—Artisan contractors often rely on specialized tools, but this type of coverage can help financially protect any contractor if equipment is stolen or damaged by covered perils.
• Workers’ compensation insurance—Michigan law may require this coverage if you have employees, but even self-employed, independent contractors can benefit from potential financial aid following work-related injuries.

How Hathaway Agency, Inc Supports Contractors

Our team understands the unique challenges faced by both artisan and independent contractors. We take the time to assess your business, explain your options and recommend policies tailored to your trade and risk profile. With our guidance, you can feel confident that your coverage matches your needs, whether you work independently or oversee a team of specialists.

Contact us today to compare policies and personalized quotes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.