Does Your Current Insurance Policy Fulfill Your Contractual Obligations?

April 12, 2022

If you are a contractor, then you know that having the right insurance policy in place is essential. Commercial contractor insurance can protect your business from liability and financial damages in the event of an accident or claim. Is your current policy actually fulfilling your contractual obligations? Many policies have exclusions and limitations that can leave you exposed to risk. That’s where the contractor insurance brokers at Hako Risk come in. In today’s blog post we will discuss what your policy might have that can be working against you.

Residential Exclusions

Commercial contractor insurance policies often exclude work on residential projects. If you are working on a residential project, be sure to check your policy to see if you are properly covered.

Endorsements Not Approved by General Contractors

Your insurance policy might have endorsements that are not approved by your general contractor. This can leave you financially responsible for damages and repairs if something goes wrong.

Contractual Limits

Your policy might have limits that do not meet the requirements of your contract. This can leave you exposed to financial damages if you are sued or held liable for an accident.

Business Structure & Asset Protection

The way your business is structured can impact the amount of coverage you need. In the case of not having the correct builder’s insurance, your assets might not be fully protected.


Work with the Best Contractor Insurance Brokers!

It’s important to make sure that your current insurance policy actually fulfills your contractual obligations. With the importance of insurance in your contractor’s business, there is no benefit to leaving things to chance. At Hako Risk, we can help you understand your policy and make sure that you have the coverage you need to protect your business. Contact us today to learn more.

By Kraig Sturgill August 12, 2025
Tariffs—taxes imposed on imported goods—are designed to protect domestic industries, but they can have ripple effects across your business, including your insurance premiums. Here’s how:
By Kraig Sturgill August 12, 2025
Expanding your manufacturing, importing, or retail business into the United States provides tremendous opportunities, but it also introduces new risks and regulatory requirements. At Hako Risk and Insurance, we specialize in helping manufacturers, importers, and retailers navigate the complexities of U.S. insurance and risk management, ensuring your entry into the American market is both secure and compliant.
By Kraig Sturgill August 12, 2025
Logging isn’t just a job — it’s a trade, a tradition, and for many families, a way of life. From the steady whine of a saw to the smell of fresh-cut rounds piled high, logging takes grit, skill, and an understanding that nature doesn’t always play fair. Whether you’re a feller working deep in the backcountry, a mastication crew clearing dense fuel loads, or a mill operator turning raw logs into lumber, you know the risks can be as big as the trees you work with. One accident, one fire, one equipment breakdown — and the entire operation could be at risk.