Contractors Insurance Offered by The IMT Group

Umbrella Coverage Insurance with The IMT Group

The Wadena ISO Businessowners Policy has specialized coverages for small-to-medium sized contracting operations, all designed to keep you worry free!

Property Coverage

  • Building and Business Personal Property Coverage
  • A minimum of $1,000 in Business Personal Property coverage is required ($5,000 if an enhancement endorsement is on the policy)
  • Building Coverage is written on replacement cost, actual cash value, or functional replacement cost – the choice is yours!
  • Building limits increase a minimum of 2% annually

Liability Coverage

  • Bodily Injury and Property Damage Arising from your Premises or Operations
  • Products and Completed Operations
  • Personal and Advertising Injury

In addition, the following coverages are offered for an additional premium:

Contractors E & O

Contractors Errors & Omissions (E & O) provides payment when the contractor must legally pay damages for faulty workmanship, material or products. The damages must have resulted from the insured’s error, omission or negligent act while acting in the insured’s business. Select the limit option available that best fits your needs!

Enhancements Designed for Your Contracting Business

Designed for your contracting business, the following optional endorsements are available for an additional premium charge:

Additional Insured Forms

From Owners, Lessees, or Contractors to Designated Persons or Organizations or even Controlling Interests, we can assist you with the proper Additional Insured Endorsement.

Care, Custody or Control – Voluntary Property Damage Liability Coverage

Provides coverage if you become legally obligated to pay damages because of property damage to property of others that is in your care, custody or control, or for property damage to property of others while in your possession or arising out of your work.

Contractors Plus

This optional endorsement is designed specifically for contractors. The Coverage provided are:

  • Additional Insured coverage for:
    • Managers or Lessors of Premises
    • State or Political Subdivisions – Permits
    • Vendors
  • Theft coverage for Patterns, Dies, Molds & Forms
  • Lease Gap Coverages for Office Equipment
  • Worldwide Coverage for Laptop Computers

As an added benefit, if you add the Contractors Plus endorsement to your policy, the premium charge for the Contractors’ Installation, Tools and Equipment Coverage is reduced!

Contractors Eligibility

Wadena’s Contractors Coverage is for many different types of Artisan based businesses, such as: carpentry, air conditioning and heating, landscape gardening, painting, and siding installation.
You are eligible for the Contractors program on the Wadena BOP if you:

  • Are a contractor employing 15 or fewer employees
  • Have maximum gross receipts of $3,000,000 or less
  • Have an annual payroll of up to $500,000
  • Have sub-contracted work that is less than 20% of your gross annual receipts

We would encourage you to find out more about our Contractors program by contacting a local insurance agent today!