Contractors, subcontractors, and independent tradespeople should carry commercial insurance. It not only protects your business but is often a requirement by many employers before you can start working for them. Common trades that need contractor insurance include:

A) Construction

B) Carpenter

C) Plumber

D) Electrician

E) Landscaper

F) Painter

G) Handyman

H) Heating & Air

I) Mason

And more!

It’s always good to have insurance in case of mishaps, even if you don’t contractually need coverage.

As a business owner, we get that you’re probably trying to budget as much as possible. That’s why it may be tempting to put off getting contractor insurance or avoid it altogether, especially if you don’t feel like it adds any value to your business.

But here’s the thing: General contractors like you are at risk of property damage claims that can be catastrophic to your finances.

For example, suppose you get sued for accidentally causing significant property damage to a customer’s home. If you are not adequately insured, you may have to pay legal fees and damages out of your pocket – or your family’s finances.

Contractor insurance can offer significant peace of mind if a customer decides to sue you over your services, even if you did nothing wrong. Client lawsuits are more common than you think; it’s estimated that 43% of small business owners have reported being threatened with or involved in a civil lawsuit.

Additionally, many states require contractors to carry insurance, especially if they have employees or work on specific projects. Plus, you must show proof of insurance to be licensed as a contractor.

Oh, and one more thing: Many customers won’t work with you if you’re not licensed and insured. There’s a lot of advice that warns people to only work with insured contractors, so it’s a good idea to get this coverage if you want to increase your clientele base.

Contractor insurance depends on various factors like the types of projects you work on, where your projects are located, your payroll and the kinds of jobs our employees do, and the number and types of vehicles you use at work. It can get confusing sometimes, but we can help you package your contractor insurance. Talk to us today to learn more.