Contractors Insurance
Contractors Insurance
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You can find contractors in many professions and areas of service. A local handyperson, painter, electrician, accountant, or roofer may all work as contractors. They differ in the services they perform for a living, but they have one thing in common: they should carry contractor’s insurance. A contractor’s insurance policy is usually tailored to the individual business owner. Most of them need liability insurance to protect themselves from potential legal claims. But you may also need property insurance, coverage for a company vehicle, and worker’s compensation for your employees.
New business owners sometimes make the mistake of working as a contractor without getting adequate insurance coverage first. If something happens and a customer or client files a legal claim against you, your personal assets are at risk. This means a legal claim could wipe out all the wealth you’ve worked so hard to build.

What Are the Benefits of Having Contractor’s Insurance?
The major benefits of having contractor’s insurance include protection from legal claims, theft, vandalism, and fire. Having insurance in place allows you to get your business up and running again, even if a major disaster strikes. Unfortunately, there’s no way to predict what may happen, and it’s always better to be prepared for the worst.
Insurance acts as the foundation on which you can build your business, because it protects your assets. But having contractor’s insurance can also help you attract more customers and clients. Wouldn’t you rather hire a roofer who can prove they have liability coverage? If they accidentally drop a shingle on your car, you’ll have a much better chance of getting reimbursed if the roofer has adequate insurance than a roofer who doesn’t.

Types of Insurance Coverage for Contractors
Contractors work in different professions. Not every contractor needs the same type of insurance coverage. The most common insurance is liability insurance, which hardly anyone should be without. How much liability insurance you carry is completely up to you. Here are some other examples of insurance coverages for contractors:
- General Liability insurance
- Workers’ compensation insurance
- Errors and omission’s insurance
- Company vehicle coverage
- Business property insurance
- Insurance against theft, vandalism, and fire
- Flood insurance
Your insurance professionals can help you determine what type of policy you need. There’s no one-size-fits-all to getting adequate coverage. Just remember you can’t get insurance after the fact. Ideally, you’ll carry contractor’s insurance from day one of being in business.
FAQs about Contractor’s Insurance
What Insurance Policies Do You Need as a Contractor?
We almost always recommend liability insurance, because it’s vital to protect your company’s assets. As a contractor, your personal assets may even be at risk, which can cause terrible repercussions for the entire family. You may also need business auto insurance, property insurance, and workers’ compensation insurance. To make sure you’re not missing anything important, let our insurance experts get to work for you.
Why Is Insurance Important for Contractors?
Insurance is important for contractors, because it’s required to protect their business. Without insurance, even a small claim or minor disaster can cause a financial struggle for many years to come. Having appropriate coverage is sometimes a requirement to do work for a customer. Even if the customer doesn’t require it, they will prefer to do business with a contractor who is properly insured over one who isn’t.
How Much Is Contractor’s Insurance?
We can’t really answer this question without knowing more about your business. It depends on a variety of factors, including the size of your business, number of employees, value of property and assets, and more. It even matters where your business is located and how long you’ve been in business. Sometimes you can get discounts for bundling different insurance policies together, so it’s a good idea to look at all your insurance needs at once.

Protect Yourself with Contractor’s Insurance
It’s time to protect yourself and your financial assets with a contractor’s insurance policy tailored to your business. Call us today to see how we can help you. We want to get to know you and your business and give you the peace of mind you need. With proper insurance in place, you have a solid foundation for reaching for the stars with your business.