Contractors Insurance

Contractors insurance is customized business insurance to protect independent contractors and construction businesses from risks such as accidents, property damage, and theft. It ensures financial protection, allowing you to take on projects with confidence knowing you're insured.

Get a free quote online to protect your contracting business.

What Does Contractors Insurance Cover?

A contractor policy bundles several key coverages to address the diverse risks of construction and trade work.

Core coverages

• Commercial auto insurance: If you use trucks, vans, or other vehicles for business, this covers accidents that happen on the road while driving to a job site or transporting materials.
• General liability insurance: This is essential coverage. It protects your business if you cause property damage or bodily injury to a third party. For instance, if an employee damages a client's water line, causing a flood, this policy helps cover the repair costs.
• Inland marine insurance: This protects your tools and equipment while they are being transported or are at a job site. It covers risks like theft from a work truck or damage during transit.

Helpful add-on coverages

• Workers' compensation insurance: This is required by law in most states if you have employees. It covers medical expenses and lost wages for employees who get injured on the job.
• Business owner's policy (BOP): A BOP combines general liability and commercial property insurance into one package, which can be a cost-effective option for contractors with a physical office or workshop.
• Builder's risk insurance: This policy protects a structure while it is under construction. It covers damage from events like fire, vandalism, or weather.

Example: You are a roofing contractor, and a storm blows materials off the roof, damaging a neighbor's car. Your general liability insurance would help cover the cost of the vehicle repairs.

Who Needs Contractors Insurance?

Contractors insurance is particularly important to:

• General contractors: Businesses overseeing entire construction projects.
• Artisan contractors: Skilled trade professionals like plumbers, electricians, carpenters, and painters.
• Home improvement: Pros handling a variety of repair and maintenance work, such as handymen.
• Landscapers: Businesses working on outdoor residential and commercial properties.
• HVAC technicians: Specialists installing and servicing heating and cooling systems.

You need coverage if you:

• Work on client property where accidents or damage can occur.
• Own or lease expensive tools and equipment.
• Hire employees or subcontractors.
• Sign contracts that mandate specific liability limits.

As a contractor, daily risks make commercial insurance a necessity. Also, most clients and general contractors will require proof of insurance before you can work for them.

What Does Contractors Insurance Cost

The cost of contractor insurance varies based on the specifics of your business. We provide tailored quotes to ensure you only pay for the coverage you need. Major factors include:

• Type of work: Higher-risk trades like roofing or electrical work may have different rates than lower-risk trades like painting.
• Business size: Your annual revenue and number of employees affect your premium.
• Coverage limits: Policies with higher limits to meet contract requirements will cost more.
• Claims history: A clean record with no prior claims could lead to lower rates.

Get a free online quote to find out your exact premium.

State Availability and Compliance

Contractors insurance is available nationwide, but regulations for tradespeople can vary significantly by state and even by city. Many states have specific licensing and insurance requirements for different types of contractors. It is essential to check with your local licensing board to ensure you are fully compliant.

Why Choose GEICO Insurance Agency for Contractor Insurance

At GEICO Insurance Agency, we make protecting your contractor business simple, stress-free and tailored to your needs. Whether you work on residential remodels, commercial job sites or small repairs, you deserve coverage that keeps up with the way you work. Here’s why thousands of businesses trust us.

• Customized coverage: Every contracting business looks a little different. We partner with Berkshire Hathaway–approved providers and select affiliates to help match you with coverage that fits your trade, your projects and your day-to-day risks.
• Vetted, trusted providers: You can feel confident knowing your policy comes from providers with a track record of financial stability and reliability.
• Effortless process: Skip the time-consuming shopping. We do the heavy lifting so you can stay focused on bids, jobs and getting work done.
• Don’t wait to get the protection your business deserves. Get a free quote today and see how easy it is to help safeguard your livelihood.