Insurance Policies for Contractors


Contractors are self-employed business men and women who must learn the in’s and out’s of the construction industry. Aside from taxes, insurance is the most complicated aspect of running the business. Here are some of the basic types of contractors insurance policies that any contractor should acquire before beginning a new project.

General Liability

Not specific to the construction industry, general liability is the bare minimum that any business owner should have. It protects from a wide range of accidents and claims made by the general public, including copyright infringement.

Commercial Property

In the same way your homeowner’s insurance protects the place you live, commercial property insurance provides coverage for your place of business. Even if your building itself is not very valuable, chances are that the tools and equipment inside would be hard to replace without coverage.

Workers’ Compensation

Every employee must be covered by workers’ compensation insurance. The specifications of this coverage vary from state to state, but the purpose of the policy is to provide financial resources to employees to compensate for injuries that happen on the job.

By maintaining these contractors insurance policies, you can be sure that your business is protected from devastating financial loss. With coverage in place, you can focus on other important details of your job.