Jul 25 2005
It seems anywhere you look today, a construction project is underway. Contractors are investing billions in equipment and materials to keep up with the demand for their services. In the process, they're creating a booming market for agents who can offer flexible and affordable ways to protect these investments.
"Contractors today are so busy they don't have time to worry about their insurance coverage," said Scott Shapiro, vice president of the commercial marine unit at The Hartford Financial Services Group, Inc. "They're counting on their agents who, in turn, count on The Hartford for the best insurance protection and service for their construction clients."
The Hartford's Contractor's Block makes it easy for agents to meet the property insurance needs of contractors by combining The Hartford's industry- leading product, Property Choice, with one or more of three specialized offerings: 1) Contractor's Equipment, 2) Builder's Risk and 3) Installation Coverage.
Contractor's Equipment coverage from The Hartford insures the tools of the trade, from small hand tools to industrial size road graders. Firms constructing warehouses, stores, schools or commercial buildings can purchase the company's innovative Builder's Risk coverage, which offers broad protection for structures, foundations, fixtures and scaffoldings, as well as materials, the cost of labor and earned profit. For contractors who install electrical, plumbing, heating, air conditioning or other equipment, Installation Coverage protects buildings and property while work is in progress or while items are in transit or temporary storage. It also covers equipment during testing and a contractor's earned profit.
Contractor's Block can provide even greater protection with the addition of new, optional endorsements. And some contractors who purchase a Contractor's Block may also see a reduction in their property coverage premium.
"The Hartford is committed to the construction industry," Shapiro added. "Our underwriters have the expertise to customize the marine and property coverage your clients need regardless of their size or specialty."