Elevator Contractors

Elevator Installation and Repair Contractors are a specialty trade surrounded by a whirlwind of hazardous exposure.

The Fairbanks team will lay out a safety net in the event your elevator business comes crashing down -

An elevator contractor erects, fabricates, and install elevators.

These specialized contractors also install motors, cables, doors, and electrical devices that are a crucial part of the elevator’s operations.

Due to the high-risk nature of this hazardous trade, the elevator contractor should have a portfolio of coverages available to protect against unforeseen risks to the business.

Here is What We Recommend:

General Liability

An Elevator contractor should obtain commercial general liability coverage as a financial safeguard if found liable for injuries or property damage to a third party.

Most states require specialty contractors to have this coverage before the contractor’s license can be issued.

Workers' Comp

Workers’ Comp will protect your employees if they are injured or become ill from a job-related incident.

This coverage may also be mandatory to be licensed by your state.

When accidents happen at the job site, your workers’ compensation will be available to pay for medical expenses and lost wages.

Surety Bonds

Most states require elevator contractors to provide a contractors surety bond before issuing a license.

This bond guarantees the state’s licensing department and your clientele that you will finish the job according to your contract once the work is complete.

Commercial Auto

Your commercial auto policy will cover your business vehicles for liability claims if your business is found liable for an at-fault accident.

Due to the nature of the operations, an elevator contractor may have multiple vans, pickups, or heavy trucks. A commercial auto policy will provide the needed coverage if they are damaged, stolen, or vandalized.

Inland Marine

An elevator contractor’s tools are the backbone of the workplace.

An inland marine policy is crucial if needed to reimburse your business if they are stolen or damaged.

Your tool and equipment insurance will provide coverage while your tools and equipment are at the job site, in transit, or storage.