Insurance for Contractors

Insuring Your Contracting Business

When it comes to construction work, the risk of accidents is oftentimes greater. It is crucial that you protect your business and yourself with Contractors Insurance. On the job, contractors are faced with dangerous and unique risks. It does not matter if you are an electrical, HVAC, plumbing, or excavation contractor; you know that it only takes a split second for an accident to happen.

The overall success of your company is dependent on your ability to perform a job well. This means that you also have to balance income and expenses with the cost of unfortunate events. That is the reason having the right policy is so vital.

Read on to understand what kind of insurance you may need.

What Insurance Do Contractors Need?

With each job that you win, so does your exposure to risk. You need a Contractor Insurance policy that is customized to meet your needs specifically. The right policy will provide you with the property and liability protection that is ideal for your contracting company. Contractors General Liability Insurance is required by law in most states.

Additionally, more companies have begun requiring independent contractors to carry liability insurance when working on a project for them. Our licensed agents review the coverages that are most critical to your industry to help protect your business.

Liability Insurance

General Liability Insurance covers the legal fees that can easily bankrupt a small contracting or construction business, such as the cost of attorney fees, witness fees, court expenses, and more. After a lawsuit, General Liability for construction and contracting businesses can be the difference between never opening your business doors again and weathering the storm still on your feet.

BOP or Business Owner’s Policy

Many carriers bundle together several different insurance policies into one product that allow you to customize your coverage. Typically, a Business Owners Policy will include general liability and property insurance.  Depending on the nature of your business, other coverages that may be appropriate to add to your BOP include:

  • Completed Operations - With this type of coverage, you are protected against claims of property damage and bodily injury that occur following the completion of service or construction
  • Comprehensive General Liability - This liability insurance will provide you with protection against financial loss related to expensive legal action
  • Computer Property - Computer equipment that you use for your business operations are protected with this type of coverage, such as software, computers, computer cables and computer peripherals
  • Installation - Covered properties that you own or for which you are responsible are protected while they are being transported, prior to installation and during installation on a job site
  • Mobile Equipment - This broad coverage will protect your tools and other equipment that you need to perform your contracting operations
  • Property - This type of coverage will protect your company's buildings as well as other structures, equipment and landscaping from accidental loss

Workers Compensation

Workers compensation insurance covers medical costs and a portion of lost wages for an employee who becomes injured or ill on the job. Workers compensation insurance also protects companies from being sued by employees for workplace conditions that can cause an injury or illness.

For some states, it is required that you obtain a workers compensation plan. If you are an operating business and it is required by your state to have this type of policy, it is important to get one as soon as you have an employee.

If your state does not require this type of insurance coverage, you may still want to consider it so you can protect the business from this type of lawsuit and protect your business reputation.

Commercial Auto Insurance

Commercial Auto Insurance, also known as business auto insurance, helps your business cover the financial costs resulting from an auto accident if you or an employee is found at fault. Commercial auto insurance helps pay for damaged property and medical expenses – even in the event of a fatal accident.

At, we shop all the major A+ rated insurance companies so you don’t have to, connecting you with the right policy for your small business. Let us help you make an informed decision about your business insurance needs.  Our licensed agents specialize in helping small businesses obtain the best coverage at the best price, give us a call today at 888-834-8619.

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