Contractors face unique risks daily: heavy equipment on client properties, frequent client visits, and potential on-the-job injuries. Unexpected events can threaten your business.
Investing in contractors insurance provides essential protection and peace of mind. A general policy safeguards your operations and helps keep your doors open.
Cost is a common concern, especially for startups. Use this guide as your pricing resource to understand expected rates based on industry standards.
Several policies are vital to shield your business from lawsuits. Some, like workers' compensation, are legally required in most states to avoid penalties.
Start with general liability, which covers legal fees if sued for bodily injury, property damage, or misleading advertising. Even basic coverage averages around $90 per month. Savings options exist—we'll cover them later.
If you employ workers, accidents happen—whether roofing or house cleaning. This policy covers medical bills and lost wages, typically costing about $300 monthly. It's mandatory for most contractors in nearly all states.
For business vehicles used between job sites, this covers collision damage, liability for others' vehicles, severe weather, and vandalism.
Bundle policies with general contractors insurance to save: it combines general liability and commercial property coverage at a lower cost than separately. Protects against bodily injury, property damage, medical expenses, and advertising issues.
Heavy equipment on-site increases risks. If a client trips over it during a visit, they could sue for medical costs. Your policy handles it, sparing your out-of-pocket expenses.
Installing furniture and scratching a client's floor? They might bill you for repairs. General insurance covers material damage, so you pay nothing personally.
If your ad misleads and causes injury, or unintentionally defames a competitor, clients or rivals may sue. Your liability coverage defends against these claims.
With costs and coverage clear, assess your risks—you may only need essentials. Compare providers: quotes are free and non-binding. Consider independent agents for the best rates.
Proper coverage protects your business from legal costs and is often state-required. Better to have it unused than needed and absent. For more startup advice, check our Business blog section.
