Construction and Contracting Business Insurance
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Common insurance policies for construction professionals and contractors
Insurance your construction company can help your business recover from lawsuits, injuries, and other incidents. Insureon has helped contractors secure about 20,000 policies.
General liability insurance
This policy covers basic construction and contracting risks, such as damage to client property. Bundle it with property insurance for savings in a business owner’s policy.
- Slip-and-fall accidents
- Damaged customer property
- Libel or slander lawsuits
Workers’ compensation insurance
Workers’ comp insurance is required in almost every state for construction and contracting businesses that have employees. It can cover medical bills for work-related injuries.
- Employee medical expenses
- Missed wages during recovery
- Lawsuits over work injuries
Commercial auto insurance
This policy for construction businesses can pay for property damage and medical bills in an accident. It can also cover vehicle theft, weather damage, and vandalism.
- Car accidents
- Vandalism and theft
- Weather damage
Contractor’s tools and equipment insurance
This policy helps pay for repair or replacement of a construction or contracting professional’s tools and equipment if they are lost, stolen, or damaged.
- Equipment less than five years old
- Mobile equipment
- Small tools
Professional liability insurance
Professional liability insurance for contractors, also called errors and omissions insurance, helps cover legal expenses when a construction error leads to a lawsuit.
- Accusations of negligence
- Failure to complete construction
- Failure to use promised materials
Builder’s risk insurance
Also known as course of construction, builder’s risk insurance can pay for damage done to a structure still under construction, including fires and vandalism.
- Building construction
- Building renovation
- Worksite theft and vandalism
How much does insurance cost for construction and contracting professionals?
Several factors will have an impact on insurance costs, including:
- Construction and contracting services
- Business equipment and property
- Revenue
- Location
- Number of employees
