An accident at a construction site could spell disaster for your small business. Insurance for contractors provides peace of mind and covers expenses related to employee injuries, client property damage, and more.
These policies cover the most common general contractor risks.
This policy covers basic business risks, such as a client who trips over your toolbox and suffers an injury. Bundle with property insurance for savings in a business owner’s policy.
Workers’ compensation insurance is required in almost every state for general contracting businesses that have employees. It can cover medical bills for work-related injuries.
This policy covers third-party injuries and property damage caused by a general contractor’s vehicle, as well as repairs to vehicles damaged by weather or vandalism.
This policy helps pay for repair or replacement of an independent contractor’s saws, nail guns, hammers, and other tools if they are lost, stolen, or damaged.
This policy is also called errors and omissions (E&O). It covers legal costs when a general contractor is sued over a mistake, such as using the wrong materials.
Builder’s risk insurance can pay for damage done to a structure still under construction. It can cover costs resulting from fire, vandalism, weather, or on-site tool or equipment theft.
As a construction manager, you oversee projects from start to finish. If something goes wrong, you’re often the one held accountable. General contractor insurance helps pay for lawsuits and losses resulting from crew injuries, property damage, stolen equipment, and more.