Professional
Liability insurance for Contractors & Trades

Yes. Anyone working in construction or a related trade needs contractors insurance or commercial general liability insurance in order to protect themselves and/or their company from any potential lawsuits resulting in loss of finances. This type of insurance will typically cover your legal expenses in case of third-party injury, third-party property damage, and advertising/reputational injuries. No matter if you are an independent contractor or work for a large construction firm, the risks in the construction industry are inherently dangerous.

Not always. If you find yourself needing to hire a subcontractor often, you can stipulate in your policy that the third-party be covered. This is important because if the subcontractor causes damage to a customer’s property, you will be held liable. However, if the subcontractor you hired is protected under their own independent insurance, you won’t have to worry about the damages. To be as safe as possible, include a condition in your contract that all subcontractors are insured before working on a project together – it could potentially save your business.

The first step in getting a contractor insurance policy for you to understand what is generally covered in a general liability insurance plan. When you are researching contractor insurance, you will notice each insurance provider and plan is different. This is because every job has its own set of risks and specifications. By working with an experienced broker at Contractors Insurance you will be presented with a variety of insurance policies that are tailored to your unique business needs – at a competitive price.

The cost of contractors insurance will vary depending on the nature of the specific company looking to protect themselves. Generally, the higher the risk, the higher the cost of the insurance policy. However, the average cost of commercial general liability insurance is around $55 to $70 per month for a coverage limit of around $1 to $2 million.